AeroVironment (AVAV) Cut to Hold at BidaskClub

AeroVironment (NASDAQ:AVAV) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.

Several other research firms also recently commented on AVAV. Piper Jaffray Companies restated a “neutral” rating and issued a $77.00 price target on shares of AeroVironment in a research note on Thursday, September 6th. Zacks Investment Research upgraded shares of AeroVironment from a “hold” rating to a “strong-buy” rating and set a $115.00 price target for the company in a research note on Friday, September 7th. Canaccord Genuity boosted their price target on shares of AeroVironment from $60.00 to $80.00 and gave the stock a “hold” rating in a research note on Thursday, September 6th. Robert W. Baird boosted their price target on shares of AeroVironment from $52.00 to $74.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 28th. Finally, Drexel Hamilton restated a “hold” rating on shares of AeroVironment in a research note on Friday, November 30th. Six equities research analysts have rated the stock with a hold rating and two have assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $77.80.

NASDAQ:AVAV opened at $71.08 on Tuesday. The firm has a market capitalization of $1.83 billion, a price-to-earnings ratio of 65.81, a price-to-earnings-growth ratio of 2.27 and a beta of 1.24. AeroVironment has a 52 week low of $41.60 and a 52 week high of $121.32.

AeroVironment (NASDAQ:AVAV) last posted its quarterly earnings results on Thursday, November 29th. The aerospace company reported $0.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.13. The business had revenue of $72.98 million during the quarter, compared to the consensus estimate of $74.54 million. AeroVironment had a net margin of 15.31% and a return on equity of 10.37%. The company’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.29 earnings per share. Sell-side analysts forecast that AeroVironment will post 1.28 EPS for the current year.

Hedge funds have recently modified their holdings of the stock. Global X Management Co LLC grew its stake in shares of AeroVironment by 15.2% during the second quarter. Global X Management Co LLC now owns 482,723 shares of the aerospace company’s stock worth $34,481,000 after purchasing an additional 63,811 shares in the last quarter. Eagle Asset Management Inc. acquired a new position in shares of AeroVironment during the second quarter worth $9,261,000. KBC Group NV grew its stake in shares of AeroVironment by 3.6% during the second quarter. KBC Group NV now owns 60,468 shares of the aerospace company’s stock worth $4,319,000 after purchasing an additional 2,125 shares in the last quarter. Laurion Capital Management LP acquired a new position in shares of AeroVironment during the second quarter worth $203,000. Finally, Royce & Associates LP grew its stake in shares of AeroVironment by 25.0% during the second quarter. Royce & Associates LP now owns 22,500 shares of the aerospace company’s stock worth $1,607,000 after purchasing an additional 4,500 shares in the last quarter. Hedge funds and other institutional investors own 83.59% of the company’s stock.

AeroVironment Company 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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Analyst Recommendations for AeroVironment (NASDAQ:AVAV)

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