AEVEX (NYSE:AVEX) Issues Earnings Results, Beats Estimates By $0.01 EPS

AEVEX (NYSE:AVEX) announced its quarterly earnings results on Wednesday. The company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.06 by $0.01, Zacks reports.

AEVEX Price Performance

Shares of AVEX traded up $0.38 during mid-day trading on Wednesday, reaching $22.53. 2,700,877 shares of the company’s stock were exchanged, compared to its average volume of 2,469,240. The stock’s fifty day simple moving average is $18.53. The stock has a market cap of $2.57 billion and a PE ratio of 90.12. AEVEX has a 52-week low of $13.07 and a 52-week high of $42.34. The company has a quick ratio of 2.63, a current ratio of 2.69 and a debt-to-equity ratio of 1.15.

Wall Street Analysts Forecast Growth

AVEX has been the subject of several recent analyst reports. Royal Bank Of Canada initiated coverage on shares of AEVEX in a research report on Tuesday, May 12th. They set an “outperform” rating and a $31.00 price objective for the company. Bank of America initiated coverage on shares of AEVEX in a research report on Tuesday, May 12th. They issued a “buy” rating and a $34.00 target price on the stock. Robert W. Baird initiated coverage on shares of AEVEX in a research note on Tuesday, May 12th. They set an “outperform” rating and a $38.00 price target on the stock. Wall Street Zen upgraded AEVEX to a “hold” rating in a research report on Saturday, April 25th. Finally, The Goldman Sachs Group began coverage on AEVEX in a report on Tuesday, May 12th. They issued a “buy” rating and a $34.00 target price for the company. Nine research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $35.62.

Insider Buying and Selling

In related news, major shareholder Madison Dearborn Partners Llc sold 2,273,843 shares of the stock in a transaction on Friday, June 5th. The shares were sold at an average price of $25.99, for a total transaction of $59,097,179.57. Following the completion of the sale, the insider owned 22,861,457 shares in the company, valued at $594,169,267.43. This represents a 9.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

About AEVEX

AEVEX Corp. is a holding company which designs, manufactures and provides autonomous systems and navigation technologies. The company’s operating segment includes tactical systems and global solutions. AEVEX Corp. is based in Solana Beach, California.