BidaskClub lowered shares of AeroVironment (NASDAQ:AVAV) from a hold rating to a sell rating in a research note issued to investors on Saturday.
AVAV has been the topic of a number of other reports. Zacks Investment Research downgraded shares of AeroVironment from a hold rating to a sell rating in a report on Tuesday, February 6th. Stifel Nicolaus upgraded shares of AeroVironment from a hold rating to a buy rating and boosted their target price for the stock from $45.00 to $65.00 in a report on Wednesday, April 11th. Finally, ValuEngine upgraded shares of AeroVironment from a buy rating to a strong-buy rating in a report on Wednesday, May 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, one has given a buy rating and two have issued a strong buy rating to the stock. AeroVironment has an average rating of Buy and an average price target of $47.50.
Shares of AeroVironment opened at $57.20 on Friday, according to MarketBeat Ratings. The firm has a market cap of $1.34 billion, a P/E ratio of 105.93, a PEG ratio of 2.80 and a beta of 1.20. AeroVironment has a 1-year low of $30.05 and a 1-year high of $62.19.
AeroVironment (NASDAQ:AVAV) last issued its earnings results on Tuesday, March 6th. The aerospace company reported $0.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.02. The business had revenue of $63.90 million for the quarter, compared to the consensus estimate of $58.18 million. AeroVironment had a net margin of 10.50% and a return on equity of 9.15%. The firm’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same period in the previous year, the company earned ($0.09) earnings per share. analysts anticipate that AeroVironment will post 0.7 EPS for the current year.
In other AeroVironment news, Chairman Timothy E. Conver sold 7,600 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $50.73, for a total value of $385,548.00. Following the transaction, the chairman now directly owns 58,138 shares in the company, valued at $2,949,340.74. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Timothy E. Conver sold 3,800 shares of the company’s stock in a transaction on Wednesday, March 14th. The shares were sold at an average price of $47.72, for a total transaction of $181,336.00. Following the completion of the transaction, the chairman now owns 58,138 shares in the company, valued at $2,774,345.36. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,000 shares of company stock worth $914,812. Corporate insiders own 11.00% of the company’s stock.
Several large investors have recently added to or reduced their stakes in AVAV. American Capital Management Inc. increased its holdings in shares of AeroVironment by 9.7% in the fourth quarter. American Capital Management Inc. now owns 1,441,771 shares of the aerospace company’s stock valued at $80,970,000 after purchasing an additional 127,619 shares during the last quarter. Fisher Asset Management LLC increased its holdings in shares of AeroVironment by 116.4% in the fourth quarter. Fisher Asset Management LLC now owns 76,168 shares of the aerospace company’s stock valued at $4,278,000 after purchasing an additional 40,978 shares during the last quarter. Robeco Institutional Asset Management B.V. bought a new stake in shares of AeroVironment in the fourth quarter valued at about $7,137,000. Mutual of America Capital Management LLC bought a new stake in shares of AeroVironment in the fourth quarter valued at about $2,055,000. Finally, Comerica Bank boosted its position in shares of AeroVironment by 71.4% in the fourth quarter. Comerica Bank now owns 38,256 shares of the aerospace company’s stock valued at $2,040,000 after acquiring an additional 15,934 shares during the period. Hedge funds and other institutional investors own 78.09% of the company’s stock.
AeroVironment Company Profile
AeroVironment, Inc designs, develops, produces, supports, and operates unmanned aircraft systems (UAS) and efficient energy systems (EES) in the United States and internationally. The company offers small UAS products to deliver intelligence, surveillance, and reconnaissance; and communications, such as real-time tactical reconnaissance, tracking, combat assessment, and geographic data to the small tactical unit or individual operator.
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