Bank of America Lowers Applied Aerospace & Defense (NYSE:AADX) Price Target to $23.00

Applied Aerospace & Defense (NYSE:AADX) had its target price dropped by investment analysts at Bank of America from $24.00 to $23.00 in a report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Bank of America‘s price objective would suggest a potential upside of 25.48% from the stock’s current price.

A number of other brokerages have also recently issued reports on AADX. Stifel Nicolaus started coverage on shares of Applied Aerospace & Defense in a research note on Monday, June 29th. They issued a “buy” rating and a $24.00 price objective on the stock. UBS Group set a $24.00 target price on shares of Applied Aerospace & Defense in a research report on Sunday, June 28th. Jefferies Financial Group raised Applied Aerospace & Defense to a “strong-buy” rating in a research note on Monday, June 29th. Zacks Research upgraded Applied Aerospace & Defense to a “hold” rating in a research report on Tuesday, June 30th. Finally, Wall Street Zen raised Applied Aerospace & Defense from a “sell” rating to a “hold” rating in a research note on Saturday, June 27th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Applied Aerospace & Defense presently has an average rating of “Moderate Buy” and an average target price of $24.62.

Applied Aerospace & Defense Price Performance

Shares of NYSE:AADX traded down $0.47 during trading on Friday, hitting $18.33. 625,867 shares of the company’s stock were exchanged, compared to its average volume of 1,337,504. The company’s 50-day moving average is $19.76. Applied Aerospace & Defense has a 1-year low of $16.57 and a 1-year high of $24.24.

Insider Buying and Selling

In other news, Director Susan D. Lynch acquired 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The stock was purchased at an average price of $20.00 per share, for a total transaction of $160,000.00. Following the completion of the acquisition, the director owned 8,000 shares in the company, valued at $160,000. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director James C. Katzman bought 25,000 shares of the stock in a transaction on Thursday, June 4th. The stock was purchased at an average cost of $20.00 per share, with a total value of $500,000.00. Following the purchase, the director directly owned 29,250 shares of the company’s stock, valued at approximately $585,000. This represents a 588.24% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have bought 58,500 shares of company stock valued at $1,170,000 in the last 90 days.

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.