AEVEX (NYSE:AVEX) Trading Down 6.7% – Here’s Why

AEVEX Corp. (NYSE:AVEX)’s stock price fell 6.7% during mid-day trading on Monday . The company traded as low as $20.01 and last traded at $20.09. 455,591 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 2,439,096 shares. The stock had previously closed at $21.54.

Analyst Ratings Changes

Several research firms have commented on AVEX. Royal Bank Of Canada initiated coverage on AEVEX in a research report on Tuesday, May 12th. They issued an “outperform” rating and a $31.00 price objective on the stock. Raymond James Financial began coverage on shares of AEVEX in a research note on Tuesday, May 12th. They issued an “outperform” rating and a $35.00 target price for the company. JPMorgan Chase & Co. increased their price target on shares of AEVEX from $33.00 to $35.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. William Blair started coverage on shares of AEVEX in a research report on Tuesday, May 12th. They set an “outperform” rating on the stock. Finally, Jefferies Financial Group restated a “buy” rating and set a $33.00 price target on shares of AEVEX in a research report on Monday, May 25th. Nine research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $35.62.

AEVEX Trading Down 6.1%

The firm has a market capitalization of $2.31 billion and a P/E ratio of 80.92. 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 stock has a fifty day moving average price of $18.33.

Insider Buying and Selling

In other news, major shareholder Madison Dearborn Partners Llc sold 2,273,843 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $25.99, for a total value of $59,097,179.57. Following the completion of the sale, the insider directly owned 22,861,457 shares in the company, valued at $594,169,267.43. The trade was a 9.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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.