Applied Aerospace & Defense (NYSE:AADX) Reaches New 1-Year Low – Time to Sell?

Applied Aerospace & Defense, Inc. (NYSE:AADX) shares reached a new 52-week low on Thursday. The stock traded as low as $8.81 and last traded at $8.91, with a volume of 416,778 shares changing hands. The stock had previously closed at $9.37.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on AADX shares. Royal Bank Of Canada reduced their target price on shares of Applied Aerospace & Defense from $21.00 to $18.00 and set an “outperform” rating for the company in a research report on Wednesday, October 28th. Jefferies Financial Group set a $20.00 price target on shares of Applied Aerospace & Defense in a report on Monday, October 5th. Weiss Ratings started coverage on shares of Applied Aerospace & Defense in a report on Friday, August 28th. They issued a “sell (d)” rating on the stock. Guggenheim assumed coverage on Applied Aerospace & Defense in a research note on Monday, September 14th. They issued a “buy” rating and a $30.00 price objective on the stock. Finally, Bank of America reduced their price objective on Applied Aerospace & Defense from $24.00 to $23.00 and set a “buy” rating for the company in a report on Friday, August 14th. 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 issued a Sell rating to the company. Based on data from MarketBeat.com, Applied Aerospace & Defense has an average rating of “Moderate Buy” and an average target price of $23.11.

Applied Aerospace & Defense Stock Performance

The firm’s 50 day moving average is $11.60. The firm has a market cap of $1.67 billion and a P/E ratio of -38.72. The company has a quick ratio of 2.08, a current ratio of 2.51 and a debt-to-equity ratio of 0.51.

Applied Aerospace & Defense (NYSE:AADX) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($1.05). The firm had revenue of $167.32 million for the quarter. On average, equities research analysts forecast that Applied Aerospace & Defense, Inc. will post -0.61 EPS for the current fiscal year.

Hedge Funds Weigh In On Applied Aerospace & Defense

A number of institutional investors have recently added to or reduced their stakes in AADX. Bfsg LLC bought a new stake in shares of Applied Aerospace & Defense during the 3rd quarter valued at about $1,882,000. MGO One Seven LLC bought a new position in shares of Applied Aerospace & Defense in the third quarter worth approximately $131,000. State of Wyoming bought a new position in shares of Applied Aerospace & Defense in the third quarter worth approximately $80,000. Oppenheimer & Co. Inc. purchased a new stake in Applied Aerospace & Defense in the third quarter valued at approximately $132,000. Finally, Mountain Hill Investment Partners Corp. purchased a new stake in Applied Aerospace & Defense in the third quarter valued at approximately $60,000.

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.