AEVEX (NYSE:AVEX) Stock Jumps 9.2% – What’s Next?

AEVEX Corp. (NYSE:AVEX)’s share price traded up 9.2% during mid-day trading on Thursday. The stock traded as high as $13.34 and last traded at $13.31. Approximately 544,026 shares traded hands during trading, a decline of 75% from the average session volume of 2,206,288 shares. The stock had previously closed at $12.19.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Needham & Company LLC reiterated a “buy” rating and set a $45.00 price objective on shares of AEVEX in a research report on Thursday, August 13th. Oppenheimer started coverage on shares of AEVEX in a research note on Thursday, October 22nd. They issued an “outperform” rating and a $21.00 target price for the company. Royal Bank Of Canada decreased their target price on shares of AEVEX from $26.00 to $22.00 and set an “outperform” rating for the company in a research report on Thursday, October 22nd. UBS Group set a $13.00 price target on shares of AEVEX in a research note on Thursday, October 22nd. Finally, Weiss Ratings began coverage on AEVEX in a report on Friday, August 14th. They set a “sell (d)” rating on the stock. Eleven research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $28.73.

AEVEX Price Performance

The company has a debt-to-equity ratio of 1.15, a current ratio of 5.66 and a quick ratio of 5.50. The firm’s 50 day moving average is $15.22. The firm has a market cap of $1.39 billion and a PE ratio of 38.12.

AEVEX (NYSE:AVEX) last released its quarterly earnings results on Wednesday, August 12th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.05). The firm had revenue of $201.79 million during the quarter, compared to the consensus estimate of $155.15 million. The firm’s revenue was up 99.5% compared to the same quarter last year. As a group, research analysts predict that AEVEX Corp. will post 0.48 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AEVEX

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pilgrim Partners Asia Pte Ltd purchased a new stake in AEVEX during the third quarter valued at about $30,000. State of Alaska Department of Revenue bought a new stake in AEVEX in the 3rd quarter valued at $45,000. SBI Securities Co. Ltd. lifted its position in shares of AEVEX by 157.2% in the 3rd quarter. SBI Securities Co. Ltd. now owns 5,402 shares of the company’s stock worth $82,000 after acquiring an additional 3,302 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of AEVEX during the 3rd quarter valued at about $130,000. Finally, HighTower Advisors LLC acquired a new position in shares of AEVEX in the 2nd quarter worth approximately $269,000.

About AEVEX

AEVEX Aerospace, Inc is a defense technology company that develops and delivers advanced systems and mission solutions for national security customers. Its work focuses on intelligence, surveillance and reconnaissance (ISR), special operations, unmanned systems, electronic warfare, and other complex aerospace and defense missions.

The company provides missionized aircraft and unmanned aerial systems, payloads, sensors, communications equipment, data and intelligence capabilities, and related engineering and integration services.