Applied Aerospace & Defense (NYSE:AADX) Given New $18.00 Price Target at Royal Bank Of Canada

Applied Aerospace & Defense (NYSE:AADX) had its price target lowered by stock analysts at Royal Bank Of Canada from $21.00 to $18.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank Of Canada‘s target price would suggest a potential upside of 69.97% from the company’s current price.

AADX has been the subject of several other reports. Jefferies Financial Group set a $20.00 price objective on Applied Aerospace & Defense in a research note on Monday, October 5th. Morgan Stanley lowered their target price on shares of Applied Aerospace & Defense from $24.00 to $16.00 and set an “equal weight” rating on the stock in a report on Friday, October 16th. Weiss Ratings began coverage on shares of Applied Aerospace & Defense in a report on Friday, August 28th. They set a “sell (d)” rating on the stock. Zacks Research upgraded shares of Applied Aerospace & Defense to a “hold” rating in a research report on Tuesday, June 30th. Finally, Bank of America cut their target price 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. 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $23.11.

Applied Aerospace & Defense Trading Down 1.4%

Shares of NYSE:AADX traded down $0.15 during midday trading on Wednesday, hitting $10.59. 147,768 shares of the stock were exchanged, compared to its average volume of 1,722,950. Applied Aerospace & Defense has a 12 month low of $9.40 and a 12 month high of $24.24. The business’s 50-day simple moving average is $12.39.

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

Hedge Funds Weigh In On Applied Aerospace & Defense

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. boosted its position in shares of Applied Aerospace & Defense by 1,171.1% in the 3rd quarter. SBI Securities Co. Ltd. now owns 2,199 shares of the company’s stock worth $26,000 after purchasing an additional 2,026 shares in the last quarter. Fortitude Family Office LLC bought a new stake in shares of Applied Aerospace & Defense during the 3rd quarter valued at $29,000. Farther Finance Advisors LLC bought a new position in shares of Applied Aerospace & Defense in the third quarter worth about $29,000. Mountain Hill Investment Partners Corp. bought a new position in shares of Applied Aerospace & Defense in the third quarter worth approximately $60,000. Finally, Valeo Financial Advisors LLC purchased a new position in shares of Applied Aerospace & Defense in the third quarter valued at about $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.