Applied Aerospace & Defense (NYSE:AADX) Stock Gets Price Target Reduction from Royal Bank Of Canada

Applied Aerospace & Defense (NYSE:AADX) had its price objective decreased by Royal Bank Of Canada from $21.00 to $18.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the stock.

Several other analysts have also commented on AADX. Bank of America cut their target price 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. Weiss Ratings started coverage on shares of 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 target on shares of Applied Aerospace & Defense in a research report on Monday, October 5th. Zacks Research raised Applied Aerospace & Defense to a “hold” rating in a report on Tuesday, June 30th. Finally, Morgan Stanley cut their price objective on Applied Aerospace & Defense from $24.00 to $16.00 and set an “equal weight” rating for the company in a research report on Friday, October 16th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Applied Aerospace & Defense currently has a consensus rating of “Moderate Buy” and an average price target of $23.11.

Applied Aerospace & Defense Trading Down 5.6%

Shares of Applied Aerospace & Defense stock opened at $11.16 on Wednesday. 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 business has a 50-day simple moving average of $12.06. Applied Aerospace & Defense has a 52 week low of $9.40 and a 52 week high of $24.24.

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

Hedge Funds Weigh In On Applied Aerospace & Defense

Institutional investors have recently bought and sold shares of the stock. SBI Securities Co. Ltd. raised its holdings in Applied Aerospace & Defense by 1,171.1% during the 3rd quarter. SBI Securities Co. Ltd. now owns 2,199 shares of the company’s stock worth $26,000 after buying an additional 2,026 shares during the period. Fortitude Family Office LLC purchased a new stake in Applied Aerospace & Defense during the third quarter valued at about $29,000. Farther Finance Advisors LLC acquired a new position in shares of Applied Aerospace & Defense in the third quarter worth about $29,000. Mountain Hill Investment Partners Corp. acquired a new position in shares of Applied Aerospace & Defense in the third quarter worth about $60,000. Finally, State of Wyoming acquired a new position in shares of Applied Aerospace & Defense in the third quarter worth about $80,000.

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.