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

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

Analyst Ratings Changes

Several brokerages recently issued reports on AADX. Weiss Ratings assumed coverage on Applied Aerospace & Defense in a research report on Friday, August 28th. They issued a “sell (d)” rating on the stock. Jefferies Financial Group set a $20.00 price objective on Applied Aerospace & Defense in a research report on Monday, October 5th. Royal Bank Of Canada decreased their price objective on 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. Morgan Stanley lowered their target price on Applied Aerospace & Defense from $24.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Friday, October 16th. Finally, Guggenheim initiated coverage on Applied Aerospace & Defense in a report on Monday, September 14th. They issued a “buy” rating and a $30.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Applied Aerospace & Defense presently has a consensus rating of “Moderate Buy” and an average target price of $23.11.

Applied Aerospace & Defense Stock Down 8.8%

The company has a current ratio of 2.51, a quick ratio of 2.08 and a debt-to-equity ratio of 0.51. The company’s fifty day moving average price is $11.81. The stock has a market capitalization of $1.47 billion and a price-to-earnings ratio of -34.20.

Applied Aerospace & Defense (NYSE:AADX) last posted its quarterly earnings results on Wednesday, August 12th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($1.05). The company had revenue of $167.32 million for the quarter. As a group, analysts predict that Applied Aerospace & Defense, Inc. will post -0.61 earnings per share for the current year.

Hedge Funds Weigh In On Applied Aerospace & Defense

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP purchased a new position in shares of Applied Aerospace & Defense during the 2nd quarter worth approximately $8,373,000. B. Metzler seel. Sohn & Co. AG acquired a new stake in shares of Applied Aerospace & Defense in the 2nd quarter valued at approximately $3,044,000. Bfsg LLC purchased a new stake in shares of Applied Aerospace & Defense in the third quarter valued at approximately $1,882,000. Squarepoint Ops LLC purchased a new stake in shares of Applied Aerospace & Defense in the second quarter valued at approximately $1,232,000. Finally, Readystate Asset Management LP purchased a new stake in shares of Applied Aerospace & Defense in the second quarter valued at approximately $752,000.

Applied Aerospace & Defense Company Profile

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.