AEVEX (NYSE:AVEX) Shares Gap Up – Here’s What Happened

AEVEX Corp. (NYSE:AVEX) gapped up prior to trading on Tuesday . The stock had previously closed at $18.00, but opened at $19.41. AEVEX shares last traded at $18.67, with a volume of 359,157 shares trading hands.

Wall Street Analyst Weigh In

AVEX has been the subject of a number of recent research reports. 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. JPMorgan Chase & Co. boosted their price target on AEVEX from $33.00 to $35.00 and gave the company an “overweight” rating in a research note on Tuesday, May 26th. Robert W. Baird started coverage on AEVEX in a report on Tuesday, May 12th. They issued an “outperform” rating and a $38.00 price objective on the stock. The Goldman Sachs Group began coverage on shares of AEVEX in a research report on Tuesday, May 12th. They set a “buy” rating and a $34.00 price objective on the stock. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $33.00 target price on shares of AEVEX in a research note on Monday, May 25th. Nine research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, AEVEX has a consensus rating of “Moderate Buy” and an average price target of $35.62.

AEVEX Stock Up 0.1%

The company has a debt-to-equity ratio of 1.15, a current ratio of 5.66 and a quick ratio of 5.50. The firm has a market capitalization of $2.06 billion and a PE ratio of 56.31. The stock has a 50-day simple moving average of $18.01.

AEVEX (NYSE:AVEX) last posted its 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 business had revenue of $201.79 million during the quarter, compared to the consensus estimate of $155.15 million. The business’s revenue for the quarter was up 99.5% compared to the same quarter last year. On average, equities analysts expect that AEVEX Corp. will post 0.44 earnings per share for the current fiscal year.

Insider Activity at AEVEX

In related news, major shareholder Madison Dearborn Partners Llc sold 2,273,843 shares of the firm’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 transaction, the insider directly owned 22,861,457 shares of the company’s stock, valued at approximately $594,169,267.43. This trade represents a 9.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Institutional Investors Weigh In On AEVEX

A number of large investors have recently added to or reduced their stakes in AVEX. Alyeska Investment Group L.P. acquired a new position in shares of AEVEX during the 2nd quarter worth about $19,903,000. Concurrent Investment Advisors LLC acquired a new stake in AEVEX in the 2nd quarter valued at approximately $2,381,000. Readystate Asset Management LP acquired a new stake in AEVEX in the 2nd quarter valued at approximately $1,044,000. Finally, California State Teachers Retirement System bought a new position in AEVEX in the 2nd quarter worth approximately $109,000.

AEVEX Company Profile

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.