Alps Advisors Inc. Reduces Stake in AeroVironment, Inc. (AVAV)

Alps Advisors Inc. decreased its holdings in AeroVironment, Inc. (NASDAQ:AVAV) by 39.7% during the third quarter, HoldingsChannel.com reports. The firm owned 8,775 shares of the aerospace company’s stock after selling 5,785 shares during the period. Alps Advisors Inc.’s holdings in AeroVironment were worth $984,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Robeco Institutional Asset Management B.V. increased its holdings in AeroVironment by 100.0% in the third quarter. Robeco Institutional Asset Management B.V. now owns 9,518 shares of the aerospace company’s stock worth $874,000 after buying an additional 4,759 shares during the last quarter. First Trust Advisors LP increased its holdings in AeroVironment by 142.6% in the third quarter. First Trust Advisors LP now owns 77,428 shares of the aerospace company’s stock worth $8,685,000 after buying an additional 45,515 shares during the last quarter. Fisher Asset Management LLC increased its holdings in AeroVironment by 25.1% in the third quarter. Fisher Asset Management LLC now owns 104,532 shares of the aerospace company’s stock worth $11,725,000 after buying an additional 20,978 shares during the last quarter. Steward Partners Investment Advisory LLC acquired a new position in AeroVironment in the third quarter worth approximately $170,000. Finally, Seven Eight Capital LP acquired a new position in AeroVironment in the third quarter worth approximately $3,073,000. Institutional investors own 82.23% of the company’s stock.

A number of equities analysts recently commented on AVAV shares. BidaskClub downgraded AeroVironment from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 22nd. Canaccord Genuity increased their price objective on AeroVironment from $60.00 to $80.00 and gave the stock a “hold” rating in a report on Thursday, September 6th. Robert W. Baird increased their price objective on AeroVironment from $52.00 to $74.00 and gave the stock a “neutral” rating in a report on Tuesday, August 28th. Zacks Investment Research upgraded AeroVironment from a “hold” rating to a “strong-buy” rating and set a $115.00 price objective on the stock in a report on Friday, September 7th. Finally, Piper Jaffray Companies restated a “neutral” rating and issued a $77.00 price objective on shares of AeroVironment in a report on Thursday, September 6th. Six equities research analysts have rated the stock with a hold rating and two have given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $83.20.

NASDAQ:AVAV opened at $93.88 on Friday. AeroVironment, Inc. has a 52 week low of $41.53 and a 52 week high of $121.32. The company has a market capitalization of $2.10 billion, a P/E ratio of 86.93, a PEG ratio of 4.01 and a beta of 1.16.

AeroVironment (NASDAQ:AVAV) last released its quarterly earnings data on Wednesday, September 5th. The aerospace company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.79. The firm had revenue of $78.04 million for the quarter, compared to the consensus estimate of $73.65 million. AeroVironment had a return on equity of 10.71% and a net margin of 15.56%. The firm’s revenue was up 127.1% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.19) earnings per share. Analysts expect that AeroVironment, Inc. will post 1.1 EPS for the current fiscal year.

AeroVironment Profile

AeroVironment, Inc designs, develops, produces, supports, and operates a portfolio of products and services for government agencies and businesses. The company offers unmanned aircraft systems (UAS) and related services primarily to organizations within the U.S. Department of Defense and to international allied governments; and tactical missile systems and related services to organizations within the U.S.

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Institutional Ownership by Quarter for AeroVironment (NASDAQ:AVAV)

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