AeroVironment, Inc. (AVAV) Receives $39.50 Average PT from Analysts

AeroVironment, Inc. (NASDAQ:AVAV) has earned an average recommendation of “Hold” from the eight research firms that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $39.50.

A number of analysts have commented on AVAV shares. Canaccord Genuity lifted their price target on AeroVironment from $40.00 to $48.00 and gave the stock a “hold” rating in a research report on Wednesday, October 4th. Robert W. Baird reaffirmed a “hold” rating and set a $35.00 price target on shares of AeroVironment in a research report on Tuesday, October 24th. Zacks Investment Research cut AeroVironment from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 1st. ValuEngine cut AeroVironment from a “buy” rating to a “hold” rating in a report on Wednesday, November 15th. Finally, TheStreet raised AeroVironment from a “c+” rating to a “b” rating in a report on Friday, December 8th.

In related news, Chairman Timothy E. Conver sold 7,600 shares of AeroVironment stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $44.85, for a total value of $340,860.00. Following the completion of the transaction, the chairman now owns 58,138 shares in the company, valued at approximately $2,607,489.30. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Timothy E. Conver sold 3,800 shares of AeroVironment stock in a transaction dated Thursday, December 27th. The shares were sold at an average price of $56.90, for a total value of $216,220.00. Following the completion of the transaction, the chairman now owns 58,138 shares of the company’s stock, valued at approximately $3,308,052.20. The disclosure for this sale can be found here. In the last three months, insiders sold 38,000 shares of company stock valued at $1,982,916. Insiders own 11.00% of the company’s stock.

Several institutional investors have recently made changes to their positions in AVAV. PNC Financial Services Group Inc. increased its stake in shares of AeroVironment by 1.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 4,916 shares of the aerospace company’s stock valued at $187,000 after purchasing an additional 56 shares in the last quarter. Piedmont Investment Advisors LLC purchased a new position in shares of AeroVironment in the 3rd quarter valued at about $250,000. First Manhattan Co. purchased a new position in shares of AeroVironment in the 3rd quarter valued at about $270,000. Invictus RG purchased a new position in shares of AeroVironment in the 3rd quarter valued at about $303,000. Finally, Suntrust Banks Inc. increased its stake in shares of AeroVironment by 3.8% in the 2nd quarter. Suntrust Banks Inc. now owns 9,224 shares of the aerospace company’s stock valued at $352,000 after purchasing an additional 340 shares in the last quarter. Hedge funds and other institutional investors own 73.99% of the company’s stock.

Shares of AeroVironment (NASDAQ AVAV) traded down $0.53 on Friday, reaching $53.07. The company’s stock had a trading volume of 218,828 shares, compared to its average volume of 329,107. AeroVironment has a 12 month low of $24.70 and a 12 month high of $58.99. The firm has a market cap of $1,270.00, a PE ratio of 41.79, a P/E/G ratio of 5.09 and a beta of 1.16.

AeroVironment (NASDAQ:AVAV) last issued its quarterly earnings results on Tuesday, December 5th. The aerospace company reported $0.29 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.30. AeroVironment had a return on equity of 8.23% and a net margin of 10.42%. The company had revenue of $73.83 million during the quarter, compared to analysts’ expectations of $63.53 million. During the same quarter in the previous year, the firm posted ($0.18) EPS. The firm’s revenue was up 47.3% compared to the same quarter last year. research analysts forecast that AeroVironment will post 0.7 EPS for the current fiscal year.

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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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