AEVEX (NYSE:AVEX) Reaches New 52-Week Low – Should You Sell?

Shares of AEVEX Corp. (NYSE:AVEX) reached a new 52-week low during mid-day trading on Wednesday. The company traded as low as $10.84 and last traded at $10.84, with a volume of 488,864 shares traded. The stock had previously closed at $14.34.

Wall Street Analyst Weigh In

AVEX has been the topic of a number of analyst reports. Piper Sandler initiated coverage on shares of AEVEX in a report on Wednesday, September 2nd. They issued a “neutral” rating and a $20.00 target price on the stock. Weiss Ratings started coverage on shares of AEVEX in a report on Friday, August 14th. They set a “sell (d)” rating on the stock. Royal Bank Of Canada reduced their price target on shares of AEVEX from $31.00 to $26.00 and set an “outperform” rating on the stock in a research report on Monday, October 12th. Jefferies Financial Group started coverage on AEVEX in a research report on Wednesday, September 23rd. They set a “buy” rating and a $26.00 price target on the stock. Finally, Needham & Company LLC restated a “buy” rating and issued a $45.00 price objective on shares of AEVEX in a research report on Thursday, August 13th. Nine analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, AEVEX presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.56.

AEVEX Stock Down 16.0%

The stock has a market cap of $1.37 billion and a PE ratio of 37.62. The company has a debt-to-equity ratio of 1.15, a quick ratio of 5.50 and a current ratio of 5.66. The company’s fifty day moving average is $16.56.

AEVEX (NYSE:AVEX) last posted its earnings results on Wednesday, August 12th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.05). The business had revenue of $201.79 million during the quarter, compared to analyst estimates of $155.15 million. AEVEX’s revenue for the quarter was up 99.5% on a year-over-year basis. On average, equities research analysts expect that AEVEX Corp. will post 0.51 earnings per share for the current fiscal year.

Institutional Trading of AEVEX

A number of hedge funds and other institutional investors have recently modified their holdings of AVEX. Alyeska Investment Group L.P. purchased a new position in shares of AEVEX during the second quarter valued at about $19,903,000. State Street Corp purchased a new stake in AEVEX in the second quarter valued at $6,885,000. Concurrent Investment Advisors LLC acquired a new stake in AEVEX during the second quarter valued at $2,381,000. Readystate Asset Management LP purchased a new stake in shares of AEVEX in the second quarter valued at approximately $1,044,000. Finally, WINTON GROUP Ltd purchased a new stake in shares of AEVEX during the second quarter worth about $343,000.

AEVEX Company Profile

AEVEX Aerospace, Inc is a defense technology company that develops and delivers advanced systems and mission solutions for national security customers. Its work focuses on intelligence, surveillance and reconnaissance (ISR), special operations, unmanned systems, electronic warfare, and other complex aerospace and defense missions.

The company provides missionized aircraft and unmanned aerial systems, payloads, sensors, communications equipment, data and intelligence capabilities, and related engineering and integration services.