AeroVironment (AVAV) Lowered to “Hold” at Stifel Nicolaus

Stifel Nicolaus cut shares of AeroVironment (NASDAQ:AVAV) from a buy rating to a hold rating in a research note published on Thursday, Marketbeat Ratings reports. Stifel Nicolaus currently has $70.00 price objective on the aerospace company’s stock, up from their previous price objective of $65.00.

AVAV has been the subject of several other research reports. ValuEngine raised shares of AeroVironment from a hold rating to a buy rating in a research note on Monday, April 2nd. Zacks Investment Research raised shares of AeroVironment from a hold rating to a strong-buy rating and set a $62.00 price target for the company in a research note on Wednesday, May 2nd. BidaskClub raised shares of AeroVironment from a sell rating to a hold rating in a research note on Tuesday, June 5th. Robert W. Baird lifted their price target on shares of AeroVironment from $50.00 to $52.00 and gave the company a neutral rating in a research note on Wednesday, June 6th. Finally, Drexel Hamilton reaffirmed a hold rating on shares of AeroVironment in a research note on Wednesday. Eight analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $53.67.

AeroVironment traded up $2.64, hitting $71.43, during trading on Thursday, according to Marketbeat Ratings. The stock had a trading volume of 1,533,300 shares, compared to its average volume of 365,033. The company has a market cap of $1.59 billion, a P/E ratio of 66.14, a PEG ratio of 3.66 and a beta of 1.21. AeroVironment has a one year low of $36.41 and a one year high of $73.63.

AeroVironment (NASDAQ:AVAV) last announced its quarterly earnings data on Tuesday, June 26th. The aerospace company reported $0.85 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.33. The business had revenue of $117.38 million during the quarter, compared to the consensus estimate of $116.16 million. AeroVironment had a net margin of 6.71% and a return on equity of 6.37%. The firm’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.30 earnings per share. research analysts predict that AeroVironment will post 0.91 earnings per share for the current fiscal year.

Institutional investors have recently bought and sold shares of the company. Tyers Asset Management LLC raised its stake in shares of AeroVironment by 106.8% during the fourth quarter. Tyers Asset Management LLC now owns 1,952 shares of the aerospace company’s stock valued at $110,000 after acquiring an additional 1,008 shares in the last quarter. Sei Investments Co. purchased a new position in AeroVironment during the first quarter valued at approximately $100,000. Meadow Creek Investment Management LLC increased its holdings in AeroVironment by 106.8% during the fourth quarter. Meadow Creek Investment Management LLC now owns 3,416 shares of the aerospace company’s stock valued at $192,000 after buying an additional 1,764 shares during the period. Jane Street Group LLC increased its holdings in AeroVironment by 124.8% during the fourth quarter. Jane Street Group LLC now owns 3,657 shares of the aerospace company’s stock valued at $205,000 after buying an additional 2,030 shares during the period. Finally, SG Americas Securities LLC increased its holdings in AeroVironment by 72.4% during the first quarter. SG Americas Securities LLC now owns 3,717 shares of the aerospace company’s stock valued at $169,000 after buying an additional 1,561 shares during the period. 79.14% of the stock is owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for AeroVironment (NASDAQ:AVAV)

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