AEVEX (NYSE:AVEX) Issues Quarterly Earnings Results, Beats Estimates By $0.21 EPS

AEVEX (NYSE:AVEX) released its earnings results on Wednesday. The company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.21, Zacks reports.

AEVEX Trading Up 5.4%

Shares of NYSE AVEX traded up $0.63 during midday trading on Wednesday, reaching $12.23. The company had a trading volume of 2,023,360 shares, compared to its average volume of 2,180,402. AEVEX has a one year low of $8.95 and a one year high of $42.34. The company has a quick ratio of 5.50, a current ratio of 5.66 and a debt-to-equity ratio of 1.15. The firm’s fifty day moving average price is $14.23 and its 200-day moving average price is $19.40. The stock has a market cap of $1.39 billion and a PE ratio of 38.22.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AVEX. Needham & Company LLC reaffirmed a “buy” rating and set a $45.00 price target on shares of AEVEX in a research note on Thursday, August 13th. Jefferies Financial Group reiterated a “buy” rating on shares of AEVEX in a research report on Thursday, October 22nd. Piper Sandler decreased their price objective on AEVEX from $20.00 to $13.00 and set a “neutral” rating on the stock in a report on Thursday, October 22nd. UBS Group set a $13.00 price objective on AEVEX in a report on Thursday, October 22nd. Finally, Oppenheimer began coverage on AEVEX in a research report on Thursday, October 22nd. They issued an “outperform” rating and a $21.00 target price for the company. Eleven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, AEVEX currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.73.

AEVEX Company Profile

AEVEX Corporation (NYSE: AVEX) provides defense and intelligence customers with unmanned aircraft systems and related mission solutions. Its work includes designing, building and integrating aircraft, sensors and other mission equipment for operational use. The company also offers engineering, training and operational support services. These capabilities help customers plan and conduct missions that rely on aerial surveillance, reconnaissance and other specialized aviation functions. AEVEX serves government and defense customers, including U.S. and allied users.