Applied Aerospace & Defense (NYSE:AADX) Stock Price Up 9.2% – What’s Next?

Applied Aerospace & Defense, Inc. (NYSE:AADX) shot up 9.2% on Wednesday. The stock traded as high as $11.42 and last traded at $11.38. 517,204 shares traded hands during trading, a decline of 68% from the average session volume of 1,623,098 shares. The stock had previously closed at $10.42.

Analysts Set New Price Targets

AADX has been the subject of a number of analyst reports. Robert W. Baird started coverage on Applied Aerospace & Defense in a research report on Monday, June 29th. They issued an “outperform” rating and a $30.00 price target for the company. Bank of America lowered their price objective on Applied Aerospace & Defense from $24.00 to $23.00 and set a “buy” rating on the stock in a report on Friday, August 14th. UBS Group set a $24.00 price objective on Applied Aerospace & Defense in a research note on Sunday, June 28th. Royal Bank Of Canada cut their price objective on Applied Aerospace & Defense from $24.00 to $21.00 and set an “outperform” rating on the stock in a research note on Tuesday. Finally, Jefferies Financial Group set a $20.00 target price 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 issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $24.33.

Applied Aerospace & Defense Stock Up 3.0%

The stock’s 50 day simple moving average is $13.70. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.08 and a current ratio of 2.51.

Applied Aerospace & Defense (NYSE:AADX) last released 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 business had revenue of $167.32 million for the quarter. Equities analysts anticipate 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 acquired a new stake in Applied Aerospace & Defense in the 2nd quarter valued at approximately $8,373,000. B. Metzler seel. Sohn & Co. AG bought a new position in Applied Aerospace & Defense in the 2nd quarter worth approximately $3,044,000. Squarepoint Ops LLC acquired a new position in shares of Applied Aerospace & Defense during the second quarter worth approximately $1,232,000. Readystate Asset Management LP acquired a new position in shares of Applied Aerospace & Defense during the second quarter worth approximately $752,000. Finally, Valeo Financial Advisors LLC acquired a new position in shares of Applied Aerospace & Defense during the third quarter worth approximately $120,000.

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.