AEVEX Corp.’s Lock-Up Period Will End on October 14th (NYSE:AVEX)

AEVEX’s (NYSE:AVEX) lock-up period is set to expire on Wednesday, October 14th. AEVEX had issued 16,000,000 shares in its public offering on April 17th. The total size of the offering was $320,000,000 based on an initial share price of $20.00. After the expiration of the company’s lock-up period, restrictions preventing major shareholders and company insiders from selling shares in the company will be lifted.

Analyst Upgrades and Downgrades

AVEX has been the subject of several recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $45.00 price target on shares of AEVEX in a research report on Thursday, August 13th. Weiss Ratings began coverage on shares of AEVEX in a research report on Friday, August 14th. They set a “sell (d)” rating on the stock. Piper Sandler assumed coverage on shares of AEVEX in a research note on Wednesday, September 2nd. They set a “neutral” rating and a $20.00 price objective for the company. Finally, Jefferies Financial Group assumed coverage on shares of AEVEX in a report on Wednesday, September 23rd. They issued a “buy” rating and a $26.00 target price for the company. Nine analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $33.11.

AEVEX Trading Up 3.0%

Shares of AVEX opened at $14.64 on Friday. The stock has a market cap of $1.67 billion and a P/E ratio of 45.75. The company’s fifty day simple moving average is $17.41. AEVEX has a 12 month low of $13.07 and a 12 month high of $42.34. The company has a current ratio of 5.66, a quick ratio of 5.50 and a debt-to-equity ratio of 1.15.

AEVEX (NYSE:AVEX) last posted its quarterly earnings results on Wednesday, August 12th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.05). The firm had revenue of $201.79 million during the quarter, compared to analysts’ expectations of $155.15 million. AEVEX’s revenue was up 99.5% on a year-over-year basis. As a group, research analysts forecast that AEVEX will post 0.51 EPS for the current year.

Hedge Funds Weigh In On AEVEX

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. State Street Corp bought a new stake in shares of AEVEX in the second quarter worth approximately $6,885,000. WINTON GROUP Ltd purchased a new position in shares of AEVEX during the second quarter valued at approximately $343,000. HighTower Advisors LLC bought a new position in AEVEX during the second quarter valued at approximately $269,000. Readystate Asset Management LP bought a new position in AEVEX during the second quarter valued at approximately $1,044,000. Finally, Concurrent Investment Advisors LLC bought a new position in AEVEX during the second quarter valued at approximately $2,381,000.

AEVEX Company Profile

AEVEX Aerospace (NYSE: AVEX) is a defense technology company that develops and delivers aerospace, autonomous systems, and national security solutions. The company supports government and defense customers with capabilities spanning intelligence, surveillance and reconnaissance, precision effects, mission systems, and operational support.

Its offerings include unmanned aircraft systems, autonomous platforms, specialized payloads, counter-unmanned aircraft technologies, signals intelligence and geospatial intelligence solutions, as well as mission planning, training, sustainment, and modernization services.