AeroVironment’s (AVAV) “Hold” Rating Reiterated at Robert W. Baird

Robert W. Baird reiterated their hold rating on shares of AeroVironment, Inc. (NASDAQ:AVAV) in a research note released on Tuesday morning. The brokerage currently has a $35.00 target price on the aerospace company’s stock.

Other research analysts have also recently issued reports about the company. BidaskClub cut AeroVironment from a buy rating to a hold rating in a research note on Wednesday, August 16th. Jefferies Group LLC lifted their price target on AeroVironment from $27.00 to $29.00 and gave the company a hold rating in a research report on Wednesday, June 28th. Canaccord Genuity reiterated a hold rating and set a $35.00 price target on shares of AeroVironment in a research report on Thursday, August 10th. Piper Jaffray Companies reiterated a neutral rating and set a $36.00 price target on shares of AeroVironment in a research report on Thursday, August 31st. Finally, TheStreet upgraded AeroVironment from a c- rating to a b rating in a research report on Tuesday, June 27th. Six investment analysts have rated the stock with a hold rating, The company currently has a consensus rating of Hold and a consensus target price of $39.00.

AeroVironment (NASDAQ AVAV) traded down 0.52% during midday trading on Tuesday, hitting $51.38. 160,561 shares of the stock traded hands. AeroVironment has a 12 month low of $23.30 and a 12 month high of $55.75. The stock has a market cap of $1.20 billion, a PE ratio of 60.52 and a beta of 1.29. The company has a 50-day moving average of $52.04 and a 200-day moving average of $38.92.

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

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In related news, Chairman Timothy E. Conver sold 2,000 shares of AeroVironment stock in a transaction that occurred on 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 transaction, the chairman now directly owns 58,138 shares in the company, valued at $3,134,219.58. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Timothy E. Conver sold 7,600 shares of AeroVironment stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $38.49, for a total value of $292,524.00. Following the transaction, the chairman now owns 58,138 shares of the company’s stock, valued at $2,237,731.62. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,600 shares of company stock valued at $2,260,596. 11.00% of the stock is owned by company insiders.

Hedge funds have recently made changes to their positions in the stock. PNC Financial Services Group Inc. increased its position in shares of AeroVironment by 0.8% in the first quarter. PNC Financial Services Group Inc. now owns 4,860 shares of the aerospace company’s stock valued at $136,000 after buying an additional 38 shares in the last quarter. Sei Investments Co. increased its position in shares of AeroVironment by 1.8% in the second quarter. Sei Investments Co. now owns 3,450 shares of the aerospace company’s stock valued at $132,000 after buying an additional 61 shares in the last quarter. Arizona State Retirement System increased its position in shares of AeroVironment by 0.9% in the first quarter. Arizona State Retirement System now owns 10,698 shares of the aerospace company’s stock valued at $300,000 after buying an additional 100 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its position in shares of AeroVironment by 3.2% in the second quarter. Municipal Employees Retirement System of Michigan now owns 4,850 shares of the aerospace company’s stock valued at $185,000 after buying an additional 150 shares in the last quarter. Finally, Prudential Financial Inc. increased its position in shares of AeroVironment by 0.4% in the first quarter. Prudential Financial Inc. now owns 35,350 shares of the aerospace company’s stock valued at $991,000 after buying an additional 154 shares in the last quarter. Institutional investors own 77.62% 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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