AEVEX (NYSE:AVEX) Shares Down 4.2% – What’s Next?

AEVEX Corp. (NYSE:AVEX) was down 4.2% during mid-day trading on Monday. The company traded as low as $14.39 and last traded at $14.71. Approximately 228,427 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 2,100,115 shares. The stock had previously closed at $15.36.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on AVEX. Jefferies Financial Group began coverage on shares of AEVEX in a research report on Wednesday, September 23rd. They set a “buy” rating and a $26.00 price objective on the stock. Weiss Ratings started coverage on shares of AEVEX in a research note on Friday, August 14th. They issued a “sell (d)” rating on the stock. Royal Bank Of Canada cut their target price on shares of AEVEX from $31.00 to $26.00 and set an “outperform” rating for the company in a research report on Monday, October 12th. Needham & Company LLC reissued a “buy” rating and set a $45.00 target price on shares of AEVEX in a research note on Thursday, August 13th. Finally, Piper Sandler began coverage on shares of AEVEX in a research note on Wednesday, September 2nd. They set a “neutral” rating and a $20.00 target price for the company. Nine research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $32.56.

AEVEX Trading Down 1.6%

The stock has a 50-day moving average price of $16.86. The company has a debt-to-equity ratio of 1.15, a current ratio of 5.66 and a quick ratio of 5.50. The stock has a market capitalization of $1.72 billion and a P/E ratio of 47.22.

AEVEX (NYSE:AVEX) last announced its quarterly earnings results on Wednesday, August 12th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.05). The firm had revenue of $201.79 million during the quarter, compared to analyst estimates of $155.15 million. AEVEX’s revenue for the quarter was up 99.5% compared to the same quarter last year. On average, sell-side analysts forecast that AEVEX Corp. will post 0.51 earnings per share for the current year.

Hedge Funds Weigh In On AEVEX

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue acquired a new stake in AEVEX in the third quarter valued at approximately $45,000. State Street Corp bought a new stake in AEVEX in the second quarter worth approximately $6,885,000. WINTON GROUP Ltd acquired a new position in shares of AEVEX during the 2nd quarter worth $343,000. HighTower Advisors LLC acquired a new position in shares of AEVEX during the 2nd quarter worth $269,000. Finally, Readystate Asset Management LP acquired a new position in shares of AEVEX during the 2nd quarter worth $1,044,000.

About AEVEX

AEVEX Aerospace (NYSE: AVEX) is a defense technology company that develops and delivers aerospace, autonomous systems, and national security solutions. The company supports government and defense customers with capabilities spanning intelligence, surveillance and reconnaissance, precision effects, mission systems, and operational support.

Its offerings include unmanned aircraft systems, autonomous platforms, specialized payloads, counter-unmanned aircraft technologies, signals intelligence and geospatial intelligence solutions, as well as mission planning, training, sustainment, and modernization services.