Zacks Investment Research Lowers AeroVironment (AVAV) to Sell

AeroVironment (NASDAQ:AVAV) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday, February 6th.

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 equities research analysts have also weighed in on the company. BidaskClub lowered AeroVironment from a “sell” rating to a “strong sell” rating in a research note on Wednesday, December 27th. TheStreet upgraded AeroVironment from a “c+” rating to a “b” rating in a research note on Friday, December 8th. Canaccord Genuity restated a “hold” rating and set a $50.00 price objective on shares of AeroVironment in a research note on Thursday, December 14th. ValuEngine lowered AeroVironment from a “buy” rating to a “hold” rating in a research note on Wednesday, November 15th. Finally, Robert W. Baird restated a “hold” rating and set a $35.00 price objective on shares of AeroVironment in a research note on Tuesday, October 24th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $42.40.

Shares of AeroVironment (NASDAQ:AVAV) opened at $48.94 on Tuesday. AeroVironment has a 12 month low of $25.66 and a 12 month high of $58.99. The stock has a market capitalization of $1,175.61, a PE ratio of 37.60, a PEG ratio of 4.67 and a beta of 1.06.

AeroVironment (NASDAQ:AVAV) last issued its quarterly earnings data on Tuesday, December 5th. The aerospace company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.30. AeroVironment had a return on equity of 8.23% and a net margin of 10.42%. The firm had revenue of $73.83 million during the quarter, compared to analyst estimates of $63.53 million. During the same quarter last year, the firm earned ($0.18) EPS. AeroVironment’s quarterly revenue was up 47.3% on a year-over-year basis. research analysts expect that AeroVironment will post 0.7 earnings per share for the current fiscal year.

In other AeroVironment news, Chairman Timothy E. Conver sold 7,600 shares of the stock in a transaction that occurred on Thursday, December 28th. The stock was sold at an average price of $57.10, for a total transaction of $433,960.00. Following the transaction, the chairman now owns 58,138 shares of the company’s stock, valued at approximately $3,319,679.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Timothy E. Conver sold 3,800 shares of the stock in a transaction that occurred on Wednesday, December 27th. The stock was sold at an average price of $56.90, for a total value of $216,220.00. Following the transaction, the chairman now directly owns 58,138 shares in the company, valued at approximately $3,308,052.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 49,400 shares of company stock worth $2,578,300. 11.00% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. lifted its holdings in AeroVironment by 1.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 4,916 shares of the aerospace company’s stock worth $187,000 after buying an additional 56 shares during the last quarter. Suntrust Banks Inc. lifted its holdings in AeroVironment by 3.8% during the 2nd quarter. Suntrust Banks Inc. now owns 9,224 shares of the aerospace company’s stock worth $352,000 after buying an additional 340 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of AeroVironment by 0.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 108,125 shares of the aerospace company’s stock worth $4,131,000 after purchasing an additional 560 shares during the last quarter. TIAA CREF Investment Management LLC lifted its holdings in shares of AeroVironment by 1.1% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 55,068 shares of the aerospace company’s stock worth $2,104,000 after purchasing an additional 624 shares during the last quarter. Finally, Thrivent Financial For Lutherans lifted its holdings in shares of AeroVironment by 6.4% in the 2nd quarter. Thrivent Financial For Lutherans now owns 12,670 shares of the aerospace company’s stock worth $484,000 after purchasing an additional 760 shares during the last quarter. 74.20% of the stock is currently owned by institutional investors.

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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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