Applied Aerospace & Defense (NYSE:AADX) Reaches New 1-Year Low – Should You Sell?

Applied Aerospace & Defense, Inc. (NYSE:AADX)’s share price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $11.77 and last traded at $11.89, with a volume of 2304360 shares traded. The stock had previously closed at $12.39.

Analyst Ratings Changes

AADX has been the subject of several recent analyst reports. Bank of America reduced their price objective on shares of 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. Morgan Stanley lifted their price target on shares of Applied Aerospace & Defense from $23.00 to $24.00 and gave the stock an “equal weight” rating in a report on Thursday, August 13th. UBS Group set a $24.00 price target on Applied Aerospace & Defense in a research report on Sunday, June 28th. Robert W. Baird began coverage on Applied Aerospace & Defense in a report on Monday, June 29th. They set an “outperform” rating and a $30.00 price objective for the company. Finally, Wall Street Zen raised Applied Aerospace & Defense from a “sell” rating to a “hold” rating in a research report on Saturday, June 27th. One investment 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 company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $24.62.

Applied Aerospace & Defense Stock Performance

The stock has a 50 day moving average of $17.42.

Applied Aerospace & Defense (NYSE:AADX) last issued its quarterly earnings results 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 business had revenue of $167.32 million for the quarter. On average, research analysts expect that Applied Aerospace & Defense, Inc. will post -0.61 EPS for the current year.

Hedge Funds Weigh In On Applied Aerospace & Defense

Hedge funds have recently made changes to their positions in the company. Readystate Asset Management LP acquired a new stake in Applied Aerospace & Defense during the 2nd quarter worth about $752,000. Squarepoint Ops LLC acquired a new position in shares of Applied Aerospace & Defense in the second quarter valued at about $1,232,000. B. Metzler seel. Sohn & Co. AG acquired a new position in shares of Applied Aerospace & Defense in the second quarter valued at about $3,044,000. Finally, Wellington Management Group LLP purchased a new position in shares of Applied Aerospace & Defense in the second quarter worth about $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.