Applied Aerospace & Defense (NYSE:AADX) Trading Down 4.9% – Here’s What Happened

Shares of Applied Aerospace & Defense, Inc. (NYSE:AADX) were down 4.9% during mid-day trading on Wednesday . The stock traded as low as $11.85 and last traded at $11.94. Approximately 1,191,489 shares traded hands during mid-day trading, a decline of 15% from the average session volume of 1,397,215 shares. The stock had previously closed at $12.55.

Wall Street Analysts Forecast Growth

AADX has been the topic of several recent analyst reports. Jefferies Financial Group upgraded Applied Aerospace & Defense to a “strong-buy” rating in a research note on Monday, June 29th. Stifel Nicolaus assumed coverage on Applied Aerospace & Defense in a research note on Monday, June 29th. They issued a “buy” rating and a $24.00 price target for the company. Wall Street Zen raised Applied Aerospace & Defense from a “sell” rating to a “hold” rating in a report on Saturday, June 27th. UBS Group set a $24.00 price objective on Applied Aerospace & Defense in a research report on Sunday, June 28th. Finally, Wolfe Research started coverage on Applied Aerospace & Defense in a report on Monday, June 29th. They issued an “outperform” rating and a $23.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Applied Aerospace & Defense currently has an average rating of “Moderate Buy” and an average price target of $24.62.

Applied Aerospace & Defense Trading Up 2.5%

The business’s 50-day moving average is $18.41.

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

Institutional Trading of Applied Aerospace & Defense

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

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.