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

Applied Aerospace & Defense, Inc. (NYSE:AADX)’s share price reached a new 52-week low during trading on Wednesday . The company traded as low as $14.02 and last traded at $14.44, with a volume of 1460350 shares changing hands. The stock had previously closed at $14.49.

Wall Street Analysts Forecast Growth

AADX has been the topic of a number of research analyst reports. Wall Street Zen raised shares of Applied Aerospace & Defense from a “sell” rating to a “hold” rating in a research note on Saturday, June 27th. Stifel Nicolaus assumed coverage on shares of Applied Aerospace & Defense in a research report on Monday, June 29th. They set a “buy” rating and a $24.00 price objective for the company. Bank of America decreased their price objective on shares of Applied Aerospace & Defense from $24.00 to $23.00 and set a “buy” rating on the stock in a report on Friday, August 14th. Wolfe Research initiated coverage on shares of Applied Aerospace & Defense in a research report on Monday, June 29th. They issued an “outperform” rating and a $23.00 target price on the stock. Finally, Royal Bank Of Canada began coverage on shares of Applied Aerospace & Defense in a research note on Monday, June 29th. They set a “moderate buy” rating and a $24.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Applied Aerospace & Defense currently has a consensus rating of “Moderate Buy” and an average target price of $24.62.

Applied Aerospace & Defense Stock Performance

The stock’s fifty day moving average price is $19.19.

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

Insider Buying and Selling

In related news, Director James C. Katzman acquired 25,000 shares of the stock in a transaction on Thursday, June 4th. The shares were bought at an average price of $20.00 per share, with a total value of $500,000.00. Following the completion of the purchase, the director owned 29,250 shares of the company’s stock, valued at approximately $585,000. This represents a 588.24% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jeffrey L. Mcrae bought 25,000 shares of the company’s stock in a transaction on Thursday, June 4th. The stock was bought at an average price of $20.00 per share, with a total value of $500,000.00. Following the completion of the acquisition, the chief financial officer owned 25,000 shares in the company, valued at $500,000. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have purchased 58,500 shares of company stock worth $1,170,000.

Institutional Investors Weigh In On Applied Aerospace & Defense

A number of hedge funds have recently modified their holdings of the company. Readystate Asset Management LP acquired a new stake in Applied Aerospace & Defense during the second quarter worth about $752,000. B. Metzler seel. Sohn & Co. AG purchased a new position in Applied Aerospace & Defense during the second quarter worth about $3,044,000. Finally, Wellington Management Group LLP acquired a new position in Applied Aerospace & Defense in the 2nd quarter valued at about $8,373,000.

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.