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

Applied Aerospace & Defense, Inc. (NYSE:AADX)’s share price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $16.57 and last traded at $16.70, with a volume of 304623 shares changing hands. The stock had previously closed at $17.27.

Wall Street Analyst Weigh In

Several research firms have commented on AADX. Zacks Research raised shares of Applied Aerospace & Defense to a “hold” rating in a report on Tuesday, June 30th. Wolfe Research began coverage on shares of Applied Aerospace & Defense in a research report on Monday, June 29th. They issued an “outperform” rating and a $23.00 price target on the stock. Stifel Nicolaus started coverage on shares of Applied Aerospace & Defense in a research note on Monday, June 29th. They set a “buy” rating and a $24.00 price target on the stock. Wall Street Zen upgraded shares of Applied Aerospace & Defense from a “sell” rating to a “hold” rating in a research note on Saturday, June 27th. Finally, Bank of America reduced their price objective on shares of Applied Aerospace & Defense from $24.00 to $23.00 and set a “buy” rating for the company in a research note on Friday, August 14th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock 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 simple moving average is $19.45.

Applied Aerospace & Defense (NYSE:AADX) last released its quarterly 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 for the quarter. As a group, equities analysts anticipate that Applied Aerospace & Defense, Inc. will post -0.61 EPS for the current year.

Insiders Place Their Bets

In other Applied Aerospace & Defense news, CFO Jeffrey L. Mcrae purchased 25,000 shares of the stock in a transaction on Thursday, June 4th. The shares were purchased at an average price of $20.00 per share, with a total value of $500,000.00. Following the acquisition, the chief financial officer directly owned 25,000 shares in the company, valued at approximately $500,000. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Susan D. Lynch purchased 8,000 shares of the stock in a transaction on Thursday, June 4th. The stock was acquired at an average cost of $20.00 per share, for a total transaction of $160,000.00. Following the acquisition, the director owned 8,000 shares in the company, valued at approximately $160,000. This represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired 58,500 shares of company stock worth $1,170,000 in the last ninety days.

Institutional Investors Weigh In On Applied Aerospace & Defense

An institutional investor recently bought a new position in Applied Aerospace & Defense stock. Wellington Management Group LLP purchased a new position in Applied Aerospace & Defense, Inc. (NYSE:AADX) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 367,577 shares of the company’s stock, valued at approximately $8,373,000. Wellington Management Group LLP owned approximately 0.22% of Applied Aerospace & Defense at the end of the most recent reporting period.

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.