Applied Aerospace & Defense (NYSE:AADX) Rating Increased to Strong-Buy at Guggenheim

Guggenheim upgraded shares of Applied Aerospace & Defense (NYSE:AADX) to a strong-buy rating in a research note published on Monday morning,Zacks reports.

AADX has been the subject of several other research reports. Stifel Nicolaus began coverage on shares of Applied Aerospace & Defense in a report on Monday, June 29th. They issued a “buy” rating and a $24.00 target price for the company. Morgan Stanley upped their price objective on Applied Aerospace & Defense from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 13th. Robert W. Baird assumed coverage on Applied Aerospace & Defense in a research report on Monday, June 29th. They set an “outperform” rating and a $30.00 target price for the company. Zacks Research raised Applied Aerospace & Defense to a “hold” rating in a research note on Tuesday, June 30th. Finally, UBS Group set a $24.00 price target on Applied Aerospace & Defense in a report on Sunday, June 28th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $25.22.

Applied Aerospace & Defense Stock Up 3.4%

Shares of NYSE:AADX opened at $12.63 on Monday. The company’s 50 day moving average is $16.59. Applied Aerospace & Defense has a 12-month low of $11.39 and a 12-month high of $24.24.

Applied Aerospace & Defense (NYSE:AADX) last issued its quarterly 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 for the quarter. On average, sell-side analysts expect that Applied Aerospace & Defense will post -0.61 earnings per share for the current year.

Institutional Trading of Applied Aerospace & Defense

Several hedge funds have recently modified their holdings of the company. Wellington Management Group LLP bought a new position in shares of Applied Aerospace & Defense during the 2nd quarter valued at approximately $8,373,000. B. Metzler seel. Sohn & Co. AG bought a new position in Applied Aerospace & Defense during the second quarter valued at $3,044,000. Squarepoint Ops LLC purchased a new position in shares of Applied Aerospace & Defense in the 2nd quarter worth $1,232,000. Finally, Readystate Asset Management LP bought a new stake in shares of Applied Aerospace & Defense in the 2nd quarter worth about $752,000.

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.