Applied Aerospace & Defense (NYSE:AADX) Price Target Lowered to $23.00 at Bank of America

Applied Aerospace & Defense (NYSE:AADX) had its price objective reduced by Bank of America from $24.00 to $23.00 in a report issued on Friday,Benzinga reports. They currently have a buy rating on the stock.

Several other research firms have also recently commented on AADX. Royal Bank Of Canada started 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 price target on the stock. Wall Street Zen raised Applied Aerospace & Defense from a “sell” rating to a “hold” rating in a report on Saturday, June 27th. Morgan Stanley increased their price objective on Applied Aerospace & Defense from $23.00 to $24.00 and gave the company an “equal weight” rating in a research report on Thursday. Jefferies Financial Group raised Applied Aerospace & Defense to a “strong-buy” rating in a research note on Monday, June 29th. Finally, Zacks Research upgraded Applied Aerospace & Defense to a “hold” rating in a research report on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Applied Aerospace & Defense presently has an average rating of “Moderate Buy” and an average price target of $24.62.

Applied Aerospace & Defense Stock Down 4.4%

AADX opened at $17.97 on Friday. Applied Aerospace & Defense has a 1-year low of $16.57 and a 1-year high of $24.24. The company has a 50-day moving average of $19.77.

Insider Buying and Selling at Applied Aerospace & Defense

In other news, CFO Jeffrey L. Mcrae acquired 25,000 shares of the stock in a transaction that occurred on Thursday, June 4th. The stock was acquired at an average price of $20.00 per share, for a total transaction of $500,000.00. Following the transaction, the chief financial officer directly owned 25,000 shares in the company, valued at approximately $500,000. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director James C. Katzman acquired 25,000 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The shares were acquired at an average cost of $20.00 per share, for a total transaction of $500,000.00. Following the purchase, the director directly owned 29,250 shares in the company, valued at $585,000. This trade represents a 588.24% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders bought 58,500 shares of company stock valued at $1,170,000.

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.