AeroVironment, Inc. (AVAV) Rating Lowered to Hold at Zacks Investment Research

Zacks Investment Research cut shares of AeroVironment, Inc. (NASDAQ:AVAV) from a strong-buy rating to a hold rating in a report issued on Wednesday, November 1st.

According to Zacks, “AeroVironment, Inc. designs, develops, produces, operates a portfolio of products and services for government agencies, businesses and consumers. It operates through two segments: Unmanned Aircraft Systems, 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, which focuses primarily on the design, development, production, support and operation of electric energy systems. The Company supplies UAS, tactical missile systems and related services primarily to organizations within the United States Department of Defense. The Company also supplies charging systems and services for electric vehicles, and power cycling and test systems to commercial, consumer and government customers. It serves the U.S. Department of Defense, including the U.S. Army, Marine Corps, Special Operations Command, Air Force, and Navy. “

A number of other research firms also recently commented on AVAV. BidaskClub downgraded shares of AeroVironment from a buy rating to a hold rating in a report on Wednesday, August 16th. Robert W. Baird reaffirmed a hold rating and issued a $35.00 price objective on shares of AeroVironment in a report on Tuesday, October 24th. Canaccord Genuity reaffirmed a hold rating and issued a $35.00 price objective on shares of AeroVironment in a report on Thursday, August 10th. Jefferies Group LLC boosted their price target on shares of AeroVironment from $29.00 to $37.00 and gave the company a hold rating in a report on Wednesday, August 30th. Finally, Piper Jaffray Companies reissued a neutral rating and set a $36.00 price target on shares of AeroVironment in a report on Thursday, August 31st. Seven research analysts have rated the stock with a hold rating, The stock presently has a consensus rating of Hold and a consensus price target of $39.00.

AeroVironment (NASDAQ:AVAV) traded up $0.44 during mid-day trading on Wednesday, hitting $43.77. 278,100 shares of the stock were exchanged, compared to its average volume of 237,562. AeroVironment has a twelve month low of $24.70 and a twelve month high of $55.75. The firm has a market capitalization of $1,033.00, a P/E ratio of 51.58, a P/E/G ratio of 4.74 and a beta of 1.24.

AeroVironment (NASDAQ:AVAV) last released its quarterly earnings data on Tuesday, August 29th. The aerospace company reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.15. The firm had revenue of $43.80 million during the quarter, compared to the consensus estimate of $42.44 million. AeroVironment had a net margin of 7.22% and a return on equity of 5.40%. The firm’s revenue was up 21.0% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.51) earnings per share. equities analysts predict that AeroVironment will post 0.61 earnings per share for the current fiscal year.

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In other AeroVironment news, Chairman Timothy E. Conver sold 7,600 shares of the business’s stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $49.14, for a total value of $373,464.00. Following the sale, the chairman now directly owns 58,138 shares in the company, valued at $2,856,901.32. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Timothy E. Conver sold 2,000 shares of the business’s stock in a transaction dated Thursday, October 5th. The stock was sold at an average price of $53.91, for a total transaction of $107,820.00. Following the completion of the sale, the chairman now owns 58,138 shares in the company, valued at $3,134,219.58. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 40,000 shares of company stock worth $1,968,072. Company insiders own 11.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Wells Fargo & Company MN raised its holdings in AeroVironment by 60.2% during the 3rd quarter. Wells Fargo & Company MN now owns 36,894 shares of the aerospace company’s stock worth $1,997,000 after buying an additional 13,858 shares during the period. JPMorgan Chase & Co. raised its holdings in AeroVironment by 1,398.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 8,225 shares of the aerospace company’s stock worth $441,000 after buying an additional 7,676 shares during the period. Great West Life Assurance Co. Can raised its holdings in AeroVironment by 8.0% during the 3rd quarter. Great West Life Assurance Co. Can now owns 30,754 shares of the aerospace company’s stock worth $1,649,000 after buying an additional 2,274 shares during the period. EAM Investors LLC acquired a new stake in AeroVironment during the 3rd quarter worth about $2,441,000. Finally, Granite Investment Partners LLC raised its holdings in AeroVironment by 5.2% during the 3rd quarter. Granite Investment Partners LLC now owns 360,276 shares of the aerospace company’s stock worth $19,498,000 after buying an additional 17,965 shares during the period. Hedge funds and other institutional investors own 77.61% 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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