Wall Street analysts expect AeroVironment, Inc. (NASDAQ:AVAV) to report $63.77 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for AeroVironment’s earnings. The lowest sales estimate is $53.50 million and the highest is $83.80 million. AeroVironment posted sales of $53.16 million in the same quarter last year, which would indicate a positive year over year growth rate of 20%. The firm is expected to report its next earnings results on Tuesday, March 6th.
According to Zacks, analysts expect that AeroVironment will report full year sales of $63.77 million for the current year, with estimates ranging from $290.00 million to $303.40 million. For the next year, analysts forecast that the firm will report sales of $336.11 million per share, with estimates ranging from $317.53 million to $347.80 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that cover AeroVironment.
AeroVironment (NASDAQ:AVAV) last announced its earnings results 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. The business had revenue of $73.83 million for 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%. AeroVironment’s quarterly revenue was up 47.3% on a year-over-year basis. During the same period last year, the firm posted ($0.18) earnings per share.
A number of brokerages recently weighed in on AVAV. Zacks Investment Research raised shares of AeroVironment from a “sell” rating to a “buy” rating and set a $54.00 target price on the stock in a research note on Thursday, February 8th. Robert W. Baird reaffirmed a “hold” rating and issued a $35.00 target price on shares of AeroVironment in a research note on Tuesday, October 24th. ValuEngine downgraded shares of AeroVironment from a “buy” rating to a “hold” rating in a research note on Wednesday, November 15th. Canaccord Genuity reissued a “hold” rating and set a $50.00 price target on shares of AeroVironment in a research note on Thursday, December 14th. Finally, TheStreet raised shares of AeroVironment from a “c+” rating to a “b” rating in a research note on Friday, December 8th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. AeroVironment currently has a consensus rating of “Hold” and a consensus price target of $42.40.
In other AeroVironment news, Chairman Timothy E. Conver sold 7,600 shares of AeroVironment stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $47.00, for a total transaction of $357,200.00. Following the transaction, the chairman now directly owns 58,138 shares of the company’s stock, valued at $2,732,486. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Timothy E. Conver sold 3,800 shares of AeroVironment stock in a transaction that occurred on Wednesday, December 27th. The stock was sold at an average price of $56.90, for a total transaction of $216,220.00. Following the transaction, the chairman now directly owns 58,138 shares in the company, valued at $3,308,052.20. The disclosure for this sale can be found here. Insiders have sold 49,400 shares of company stock worth $2,578,300 over the last three months. Insiders own 11.00% of the company’s stock.
Several institutional investors have recently modified their holdings of AVAV. Tyers Asset Management LLC grew its holdings in shares of AeroVironment by 106.8% in the fourth quarter. Tyers Asset Management LLC now owns 1,952 shares of the aerospace company’s stock worth $110,000 after purchasing an additional 1,008 shares during the last quarter. LS Investment Advisors LLC grew its holdings in shares of AeroVironment by 179.6% in the fourth quarter. LS Investment Advisors LLC now owns 2,069 shares of the aerospace company’s stock worth $116,000 after purchasing an additional 1,329 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of AeroVironment by 1.2% in the second quarter. PNC Financial Services Group Inc. now owns 4,916 shares of the aerospace company’s stock worth $187,000 after purchasing an additional 56 shares during the last quarter. Meadow Creek Investment Management LLC grew its holdings in shares of AeroVironment by 106.8% in the fourth quarter. Meadow Creek Investment Management LLC now owns 3,416 shares of the aerospace company’s stock worth $192,000 after purchasing an additional 1,764 shares during the last quarter. Finally, Jane Street Group LLC grew its holdings in shares of AeroVironment by 124.8% in the fourth quarter. Jane Street Group LLC now owns 3,657 shares of the aerospace company’s stock worth $205,000 after purchasing an additional 2,030 shares during the last quarter. Hedge funds and other institutional investors own 73.74% of the company’s stock.
Shares of AeroVironment (NASDAQ AVAV) traded down $0.54 on Monday, reaching $51.74. 206,982 shares of the company were exchanged, compared to its average volume of 268,028. The stock has a market capitalization of $1,240.00, a P/E ratio of 40.74, a P/E/G ratio of 4.91 and a beta of 1.06. AeroVironment has a 1-year low of $25.66 and a 1-year high of $58.99.
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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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