Applied Aerospace & Defense (NYSE:AADX) Shares Down 15.4% – Should You Sell?

Applied Aerospace & Defense, Inc. (NYSE:AADX) was down 15.4% on Wednesday. The company traded as low as $9.36 and last traded at $9.36. 759,878 shares changed hands during mid-day trading, a decline of 56% from the average daily volume of 1,729,416 shares. The stock had previously closed at $11.06.

Wall Street Analysts Forecast Growth

AADX has been the subject of a number of research reports. Morgan Stanley reduced their price objective on Applied Aerospace & Defense from $24.00 to $16.00 and set an “equal weight” rating for the company in a research report on Friday, October 16th. Guggenheim assumed coverage on Applied Aerospace & Defense in a research report on Monday, September 14th. They issued a “buy” rating and a $30.00 target price on the stock. Royal Bank Of Canada cut their price target on Applied Aerospace & Defense from $21.00 to $18.00 and set an “outperform” rating for the company in a research note on Wednesday, October 28th. Bank of America lowered their price target on Applied Aerospace & Defense from $24.00 to $23.00 and set a “buy” rating for the company in a research note on Friday, August 14th. Finally, Jefferies Financial Group set a $20.00 price objective on Applied Aerospace & Defense in a report on Monday, October 5th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $23.11.

Applied Aerospace & Defense Stock Up 12.9%

The company has a market capitalization of $1.67 billion and a PE ratio of -38.64. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.08 and a current ratio of 2.51. The business has a 50-day moving average of $11.70.

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

Hedge Funds Weigh In On Applied Aerospace & Defense

Several large investors have recently made changes to their positions in the business. Wellington Management Group LLP bought a new position in Applied Aerospace & Defense during the second quarter worth $8,373,000. Bfsg LLC bought a new stake in Applied Aerospace & Defense in the 3rd quarter valued at $1,882,000. B. Metzler seel. Sohn & Co. AG acquired a new stake in Applied Aerospace & Defense in the 2nd quarter worth $3,044,000. Squarepoint Ops LLC acquired a new stake in Applied Aerospace & Defense in the 2nd quarter worth $1,232,000. Finally, Readystate Asset Management LP bought a new position in shares of Applied Aerospace & Defense during the 2nd quarter worth about $752,000.

Applied Aerospace & Defense Company Profile

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.