BidaskClub lowered shares of AeroVironment, Inc. (NASDAQ:AVAV) from a buy rating to a hold rating in a report published on Wednesday morning.
A number of other equities analysts have also recently issued reports on AVAV. Canaccord Genuity reiterated a hold rating and issued a $35.00 price objective on shares of AeroVironment in a report on Thursday, August 10th. Jefferies Group LLC upped their price objective on AeroVironment from $27.00 to $29.00 and gave the stock a hold rating in a report on Wednesday, June 28th. ValuEngine upgraded AeroVironment from a sell rating to a hold rating in a report on Friday, June 2nd. Zacks Investment Research upgraded AeroVironment from a hold rating to a strong-buy rating and set a $42.00 price objective for the company in a report on Friday, June 30th. Finally, Piper Jaffray Companies cut AeroVironment from an overweight rating to a neutral rating and upped their price objective for the stock from $30.00 to $35.00 in a report on Monday, July 3rd. Eight analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of Hold and an average price target of $33.00.
Shares of AeroVironment (AVAV) opened at 37.47 on Wednesday. The stock’s 50 day moving average price is $38.28 and its 200-day moving average price is $31.22. The firm has a market capitalization of $871.81 million, a price-to-earnings ratio of 69.39 and a beta of 1.31. AeroVironment has a 52 week low of $22.16 and a 52 week high of $40.10.
AeroVironment (NASDAQ:AVAV) last posted its quarterly earnings data on Tuesday, June 27th. The aerospace company reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.31. AeroVironment had a return on equity of 3.49% and a net margin of 4.71%. The firm had revenue of $125.40 million during the quarter, compared to analysts’ expectations of $122.90 million. During the same period in the prior year, the business earned $0.23 EPS. The company’s revenue for the quarter was up 47.9% compared to the same quarter last year. Equities analysts predict that AeroVironment will post $0.54 earnings per share for the current year.
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In related news, Chairman Timothy E. Conver sold 4,000 shares of the stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $31.74, for a total transaction of $126,960.00. Following the completion of the sale, the chairman now directly owns 66,621 shares in the company, valued at approximately $2,114,550.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Timothy E. Conver sold 11,362 shares of the stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $39.19, for a total value of $445,276.78. Following the sale, the chairman now owns 58,138 shares of the company’s stock, valued at $2,278,428.22. The disclosure for this sale can be found here. Insiders have sold a total of 71,897 shares of company stock valued at $2,737,757 over the last 90 days. 12.50% of the stock is currently owned by company insiders.
Large investors have recently modified their holdings of the stock. BlackRock Inc. boosted its stake in shares of AeroVironment by 216,094.4% in the first quarter. BlackRock Inc. now owns 3,216,973 shares of the aerospace company’s stock valued at $90,172,000 after buying an additional 3,215,485 shares in the last quarter. Janus Henderson Group PLC bought a new stake in shares of AeroVironment during the second quarter valued at $39,724,000. Vident Investment Advisory LLC boosted its stake in shares of AeroVironment by 175.1% in the first quarter. Vident Investment Advisory LLC now owns 260,720 shares of the aerospace company’s stock valued at $7,308,000 after buying an additional 165,946 shares in the last quarter. American Capital Management Inc. boosted its stake in shares of AeroVironment by 11.4% in the second quarter. American Capital Management Inc. now owns 1,314,107 shares of the aerospace company’s stock valued at $50,199,000 after buying an additional 134,555 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of AeroVironment by 8.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,445,679 shares of the aerospace company’s stock valued at $40,522,000 after buying an additional 107,063 shares in the last quarter. Institutional investors own 82.45% of the company’s stock.
About AeroVironment
AeroVironment, Inc designs, develops, produces, supports and operates a portfolio of products and services for government agencies, businesses and consumers. The Company operates through two segments: Unmanned Aircraft Systems (UAS), which focuses primarily on the design, development, production, support and operation of UAS and tactical missile systems that provide situational awareness, multi-band communications, force protection and other mission effects, and Efficient Energy Systems (EES), which focuses primarily on the design, development, production, marketing, support and operation of electric energy systems.
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