Applied Aerospace & Defense (NYSE:AADX) Stock Price Down 5.1% – Here’s What Happened

Applied Aerospace & Defense, Inc. (NYSE:AADX) shares dropped 5.1% during trading on Monday. The company traded as low as $10.67 and last traded at $10.79. 250,209 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 1,729,795 shares. The stock had previously closed at $11.37.

Analyst Ratings Changes

AADX has been the subject of several research analyst reports. Zacks Research upgraded Applied Aerospace & Defense to a “hold” rating in a report on Tuesday, June 30th. Weiss Ratings assumed coverage on Applied Aerospace & Defense in a research note on Friday, August 28th. They set a “sell (d)” rating for the company. Royal Bank Of Canada lowered their target price on Applied Aerospace & Defense from $24.00 to $21.00 and set an “outperform” rating on the stock in a report on Tuesday, October 13th. Bank of America dropped their price target on shares of Applied Aerospace & Defense from $24.00 to $23.00 and set a “buy” rating on the stock in a research report on Friday, August 14th. Finally, Jefferies Financial Group set a $20.00 price target on shares of Applied Aerospace & Defense in a research report on Monday, October 5th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $23.44.

Applied Aerospace & Defense Trading Up 2.3%

The firm has a market cap of $1.91 billion and a price-to-earnings ratio of -44.24. The company has a fifty day moving average of $13.09. The company has a quick ratio of 2.08, a current ratio of 2.51 and a debt-to-equity ratio of 0.51.

Applied Aerospace & Defense (NYSE:AADX) last issued its earnings results on Wednesday, August 12th. The company reported ($1.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($1.05). The company had revenue of $167.32 million for the quarter. As a group, sell-side analysts predict that Applied Aerospace & Defense, Inc. will post -0.61 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Applied Aerospace & Defense

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP bought a new stake in shares of Applied Aerospace & Defense during the 2nd quarter worth $8,373,000. B. Metzler seel. Sohn & Co. AG purchased a new stake in shares of Applied Aerospace & Defense during the second quarter valued at $3,044,000. Squarepoint Ops LLC purchased a new stake in shares of Applied Aerospace & Defense during the second quarter valued at $1,232,000. Readystate Asset Management LP purchased a new stake in shares of Applied Aerospace & Defense during the second quarter valued at $752,000. Finally, Valeo Financial Advisors LLC purchased a new stake in shares of Applied Aerospace & Defense during the third quarter valued at $120,000.

About Applied Aerospace & Defense

Applied Aerospace and Defense Inc specializes in providing advanced design, engineering and vertically integrated manufacturing solutions for next-generation space and defense technology companies. Its core service offerings include design and analysis, fabrication and assembly and inspection, qualification and testing. Applied Aerospace and Defense Inc is based in HUNTSVILLE, United States.