AEVEX (NYSE:AVEX) Stock Gets Price Target Cut from Needham & Company LLC

AEVEX (NYSE:AVEX) had its target price trimmed by Needham & Company LLC from $45.00 to $30.00 in a research report released on Thursday morning, Marketbeat.com reports. The firm currently has a buy rating on the stock.

Other research analysts have also recently issued reports about the stock. UBS Group set a $13.00 target price on shares of AEVEX in a research note on Thursday, October 22nd. Jefferies Financial Group restated a “buy” rating on shares of AEVEX in a research note on Thursday, October 22nd. Oppenheimer initiated coverage on shares of AEVEX in a report on Thursday, October 22nd. They issued an “outperform” rating and a $21.00 price target on the stock. Royal Bank Of Canada dropped their price objective on AEVEX from $26.00 to $22.00 and set an “outperform” rating on the stock in a research note on Thursday, October 22nd. Finally, Piper Sandler reduced their price objective on AEVEX from $20.00 to $13.00 and set a “neutral” rating for the company in a report on Thursday, October 22nd. Eleven 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. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $27.55.

AEVEX Stock Performance

Shares of NYSE AVEX traded down $1.14 during mid-day trading on Thursday, reaching $12.62. 2,133,134 shares of the company’s stock were exchanged, compared to its average volume of 2,977,556. The firm has a market capitalization of $1.44 billion and a price-to-earnings ratio of 39.44. AEVEX has a 52 week low of $8.95 and a 52 week high of $42.34. 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 firm has a 50-day moving average price of $14.03 and a two-hundred day moving average price of $19.27.

AEVEX (NYSE:AVEX) last issued its quarterly earnings results on Thursday, November 12th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.49). The company had revenue of $189.70 million for the quarter. The firm’s revenue was up 56.5% compared to the same quarter last year. Analysts predict that AEVEX will post 0.48 EPS for the current year.

Institutional Investors Weigh In On AEVEX

Several institutional investors have recently added to or reduced their stakes in the business. First Trust Advisors LP bought a new position in AEVEX during the third quarter worth about $53,687,000. State Street Corp increased its stake in shares of AEVEX by 265.3% in the third quarter. State Street Corp now owns 1,203,960 shares of the company’s stock worth $18,228,000 after purchasing an additional 874,380 shares in the last quarter. Alyeska Investment Group L.P. bought a new stake in shares of AEVEX in the second quarter valued at approximately $19,903,000. Voya Investment Management LLC bought a new stake in shares of AEVEX in the third quarter valued at approximately $11,505,000. Finally, Kailix Advisors LLC raised its position in shares of AEVEX by 21.8% in the third quarter. Kailix Advisors LLC now owns 386,350 shares of the company’s stock valued at $5,849,000 after purchasing an additional 69,200 shares during the period.

Latest AEVEX News

Investors following AVEX have been watching these news items:

• Neutral Sentiment: Piper Sandler raised its price target from $13 to $15 but kept a Neutral rating, signaling some potential upside without a stronger recommendation. Piper Sandler price target article
• Negative Sentiment: Despite revenue growth, AEVEX reported a loss of $0.40 per share, far below the consensus estimate of $0.09 in earnings per share. Quarterly results article
• Negative Sentiment: Needham cut its price target sharply, from $45 to $30. It maintained a Buy rating, but the reduction reflects a more cautious valuation view. Needham price target article

About AEVEX

AEVEX Corporation (NYSE: AVEX) provides defense and intelligence customers with unmanned aircraft systems and related mission solutions. Its work includes designing, building and integrating aircraft, sensors and other mission equipment for operational use. The company also offers engineering, training and operational support services. These capabilities help customers plan and conduct missions that rely on aerial surveillance, reconnaissance and other specialized aviation functions. AEVEX serves government and defense customers, including U.S. and allied users.