Applied Aerospace & Defense (NYSE:AADX) Reaches New 12-Month Low – Time to Sell?

Applied Aerospace & Defense, Inc. (NYSE:AADX)’s stock price reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $12.87 and last traded at $13.22, with a volume of 2907610 shares. The stock had previously closed at $13.30.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Wolfe Research started coverage on Applied Aerospace & Defense in a report on Monday, June 29th. They issued an “outperform” rating and a $23.00 price objective for the company. Bank of America cut their target price on Applied Aerospace & Defense from $24.00 to $23.00 and set a “buy” rating on the stock in a research note on Friday, August 14th. UBS Group set a $24.00 target price on Applied Aerospace & Defense in a report on Sunday, June 28th. Morgan Stanley boosted their target price on Applied Aerospace & Defense from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 13th. Finally, Stifel Nicolaus began coverage on Applied Aerospace & Defense in a research note on Monday, June 29th. They issued a “buy” rating and a $24.00 price target for the company. One equities research analyst has 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 MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $24.62.

Applied Aerospace & Defense Stock Down 2.7%

The business has a 50 day simple moving average of $18.54.

Applied Aerospace & Defense (NYSE:AADX) last posted its earnings results on Wednesday, August 12th. The company reported ($1.04) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($1.05). The business had revenue of $167.32 million during the quarter. Equities research analysts predict that Applied Aerospace & Defense, Inc. will post -0.61 earnings per share for the current year.

Hedge Funds Weigh In On Applied Aerospace & Defense

Several institutional investors have recently modified their holdings of AADX. Readystate Asset Management LP bought a new stake in Applied Aerospace & Defense during the 2nd quarter worth approximately $752,000. B. Metzler seel. Sohn & Co. AG acquired a new stake in Applied Aerospace & Defense during the 2nd quarter worth approximately $3,044,000. Finally, Wellington Management Group LLP acquired a new stake in Applied Aerospace & Defense during the 2nd quarter worth approximately $8,373,000.

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.