Zacks: Analysts Expect AeroVironment, Inc. (AVAV) Will Post Quarterly Sales of $63.77 Million

Wall Street brokerages expect AeroVironment, Inc. (NASDAQ:AVAV) to announce $63.77 million in sales for the current quarter, according to Zacks. Three analysts have made estimates for AeroVironment’s earnings, with the lowest sales estimate coming in at $53.50 million and the highest estimate coming in at $83.80 million. AeroVironment reported sales of $53.16 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 20%. The firm is expected to issue its next earnings report on Tuesday, March 6th.

On average, analysts expect that AeroVironment will report full-year sales of $63.77 million for the current financial year, with estimates ranging from $290.00 million to $303.40 million. For the next financial year, analysts forecast that the company will post sales of $336.11 million per share, with estimates ranging from $317.53 million to $347.80 million. Zacks’ sales averages are an average based on a survey of research firms that cover AeroVironment.

AeroVironment (NASDAQ:AVAV) last issued its quarterly earnings results on Tuesday, December 5th. The aerospace company reported $0.29 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.30. The business had revenue of $73.83 million during the quarter, compared to the consensus estimate of $63.53 million. AeroVironment had a net margin of 10.42% and a return on equity of 8.23%. The firm’s quarterly revenue was up 47.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.18) EPS.

AVAV has been the topic of several research reports. TheStreet upgraded shares of AeroVironment from a “c+” rating to a “b” rating in a research note on Friday, December 8th. ValuEngine lowered shares of AeroVironment from a “buy” rating to a “hold” rating in a research note on Wednesday, November 15th. Zacks Investment Research lowered shares of AeroVironment from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 1st. Robert W. Baird reiterated a “hold” rating and issued a $35.00 price objective on shares of AeroVironment in a research note on Tuesday, October 24th. Finally, Canaccord Genuity upped their price objective on shares of AeroVironment from $40.00 to $48.00 and gave the company a “hold” rating in a research note on Wednesday, October 4th. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $44.40.

AeroVironment (NASDAQ:AVAV) opened at $53.50 on Tuesday. The firm has a market cap of $1,280.00, a P/E ratio of 42.13, a price-to-earnings-growth ratio of 5.31 and a beta of 1.16. AeroVironment has a 12 month low of $24.70 and a 12 month high of $58.99.

In other news, Chairman Timothy E. Conver sold 3,800 shares of the stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $44.14, for a total transaction of $167,732.00. Following the transaction, the chairman now owns 58,138 shares in the company, valued at approximately $2,566,211.32. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Timothy E. Conver sold 7,600 shares of the stock in a transaction on Thursday, October 19th. The stock was sold at an average price of $51.12, for a total transaction of $388,512.00. Following the transaction, the chairman now owns 58,138 shares in the company, valued at approximately $2,972,014.56. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,000 shares of company stock worth $1,967,336. 11.00% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its holdings in shares of AeroVironment by 3.6% during the 2nd quarter. BlackRock Inc. now owns 3,333,627 shares of the aerospace company’s stock worth $127,344,000 after buying an additional 116,654 shares during the period. Vanguard Group Inc. boosted its holdings in shares of AeroVironment by 3.7% during the 2nd quarter. Vanguard Group Inc. now owns 1,929,825 shares of the aerospace company’s stock worth $73,719,000 after buying an additional 68,232 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of AeroVironment by 3.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,490,349 shares of the aerospace company’s stock worth $56,930,000 after buying an additional 44,670 shares during the period. Janus Henderson Group PLC bought a new stake in shares of AeroVironment during the 2nd quarter worth $39,724,000. Finally, State Street Corp boosted its holdings in shares of AeroVironment by 7.6% during the 2nd quarter. State Street Corp now owns 669,665 shares of the aerospace company’s stock worth $25,580,000 after buying an additional 47,582 shares during the period. 74.04% of the stock is owned by institutional investors and hedge funds.

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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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