AeroVironment, Inc. (NASDAQ:AVAV) Receives Average Rating of “Hold” from Brokerages

Shares of AeroVironment, Inc. (NASDAQ:AVAV) have earned an average rating of “Hold” from the nine research firms that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $73.15.

A number of research analysts have weighed in on the stock. Robert W. Baird reaffirmed a “neutral” rating and issued a $65.00 price target (down previously from $83.00) on shares of AeroVironment in a research note on Wednesday. Canaccord Genuity cut their price target on shares of AeroVironment from $86.00 to $80.00 and set an “in-line” rating on the stock in a research note on Wednesday. Zacks Investment Research raised shares of AeroVironment from a “sell” rating to a “hold” rating in a research note on Monday, June 24th. BidaskClub lowered shares of AeroVironment from a “hold” rating to a “sell” rating in a research note on Thursday, June 20th. Finally, ValuEngine lowered shares of AeroVironment from a “buy” rating to a “hold” rating in a research note on Monday, June 17th.

Shares of AVAV opened at $56.77 on Friday. AeroVironment has a twelve month low of $54.61 and a twelve month high of $121.32. The firm has a 50 day moving average of $64.53. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of 38.36, a P/E/G ratio of 1.42 and a beta of 1.29.

AeroVironment (NASDAQ:AVAV) last announced its quarterly earnings results on Tuesday, June 25th. The aerospace company reported $0.26 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.01. AeroVironment had a net margin of 15.09% and a return on equity of 7.93%. The firm had revenue of $87.90 million for the quarter, compared to analyst estimates of $82.57 million. During the same quarter in the previous year, the firm posted $0.85 earnings per share. The business’s revenue was down 25.1% on a year-over-year basis. As a group, analysts forecast that AeroVironment will post 1.58 earnings per share for the current fiscal year.

In other news, Chairman Timothy E. Conver sold 13,792 shares of the business’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $59.17, for a total value of $816,072.64. Following the sale, the chairman now owns 55,659 shares of the company’s stock, valued at $3,293,343.03. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Timothy E. Conver sold 6,896 shares of the business’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $68.36, for a total transaction of $471,410.56. Following the completion of the sale, the chairman now directly owns 55,659 shares in the company, valued at approximately $3,804,849.24. The disclosure for this sale can be found here. In the last three months, insiders sold 94,573 shares of company stock worth $6,207,854. 11.70% of the stock is currently owned by insiders.

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. lifted its position in shares of AeroVironment by 4.4% in the fourth quarter. BlackRock Inc. now owns 3,852,473 shares of the aerospace company’s stock worth $261,777,000 after purchasing an additional 164,034 shares in the last quarter. American Capital Management Inc. lifted its position in shares of AeroVironment by 1.2% in the first quarter. American Capital Management Inc. now owns 1,480,491 shares of the aerospace company’s stock worth $101,280,000 after purchasing an additional 17,320 shares in the last quarter. Baillie Gifford & Co. lifted its position in shares of AeroVironment by 3.6% in the first quarter. Baillie Gifford & Co. now owns 786,429 shares of the aerospace company’s stock worth $53,800,000 after purchasing an additional 27,491 shares in the last quarter. Nikko Asset Management Americas Inc. lifted its position in shares of AeroVironment by 12.6% in the first quarter. Nikko Asset Management Americas Inc. now owns 376,601 shares of the aerospace company’s stock worth $25,763,000 after purchasing an additional 42,176 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its holdings in AeroVironment by 12.6% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 376,424 shares of the aerospace company’s stock worth $25,751,000 after buying an additional 41,999 shares during the last quarter. 82.71% of the stock is currently owned by institutional investors and hedge funds.

AeroVironment Company Profile

AeroVironment, Inc designs, develops, produces, supports, and operates a portfolio of products and services for government agencies and businesses. The company offers unmanned aircraft systems (UAS) and related services primarily to organizations within the U.S. Department of Defense and to international allied governments; and tactical missile systems and related services to organizations within the U.S.

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Analyst Recommendations for AeroVironment (NASDAQ:AVAV)

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