Applied Aerospace & Defense, Inc.’s Quiet Period Will End on July 13th (NYSE:AADX)

Applied Aerospace & Defense’s (NYSE:AADX) quiet period is set to expire on Monday, July 13th. Applied Aerospace & Defense had issued 32,500,000 shares in its initial public offering on June 3rd. The total size of the offering was $650,000,000 based on an initial share price of $20.00. During Applied Aerospace & Defense’s quiet period, underwriters and any insiders that worked on the IPO are prevented from issuing any research reports for the company because of SEC regulations. Following the end of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on AADX shares. Robert W. Baird began coverage on shares of Applied Aerospace & Defense in a report on Monday, June 29th. They issued an “outperform” rating and a $30.00 price objective for the company. Jefferies Financial Group raised Applied Aerospace & Defense to a “strong-buy” rating in a report on Monday, June 29th. Wolfe Research assumed coverage on 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. Bank of America started 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. Finally, Royal Bank Of Canada began coverage on Applied Aerospace & Defense in a research report on Monday, June 29th. They set a “moderate buy” rating and a $24.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Applied Aerospace & Defense presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.62.

Applied Aerospace & Defense Stock Down 0.2%

NYSE:AADX opened at $23.02 on Monday. Applied Aerospace & Defense has a 52 week low of $17.08 and a 52 week high of $24.24.

Insider Buying and Selling

In other news, Director Susan D. Lynch purchased 8,000 shares of the business’s stock in a transaction on Thursday, June 4th. The shares were acquired at an average price of $20.00 per share, with a total value of $160,000.00. Following the completion of the transaction, the director owned 8,000 shares of the company’s stock, valued at $160,000. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James C. Katzman purchased 25,000 shares of the firm’s stock in a transaction on Thursday, June 4th. The shares were acquired at an average price of $20.00 per share, with a total value of $500,000.00. Following the completion of the acquisition, the director owned 29,250 shares in the company, valued at approximately $585,000. This trade represents a 588.24% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought 58,500 shares of company stock valued at $1,170,000 over the last quarter.