AeroVironment (NASDAQ:AVAV) Hits New 1-Year Low at $52.76

AeroVironment, Inc. (NASDAQ:AVAV) hit a new 52-week low during trading on Thursday . The stock traded as low as $52.76 and last traded at $52.97, with a volume of 86146 shares trading hands. The stock had previously closed at $54.85.

AVAV has been the subject of several analyst reports. Zacks Investment Research raised AeroVironment from a “sell” rating to a “hold” rating in a report on Monday, June 24th. BidaskClub downgraded AeroVironment from a “hold” rating to a “sell” rating in a report on Thursday, June 20th. Piper Jaffray Companies reduced their target price on AeroVironment from $79.00 to $74.00 and set a “neutral” rating for the company in a report on Tuesday, June 4th. ValuEngine downgraded AeroVironment from a “buy” rating to a “hold” rating in a report on Monday, June 17th. Finally, William Blair reaffirmed a “buy” rating on shares of AeroVironment in a report on Monday, July 8th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. AeroVironment has an average rating of “Hold” and an average price target of $74.32.

The stock has a 50 day moving average price of $57.06. The firm has a market capitalization of $1.31 billion, a PE ratio of 35.50, a PEG ratio of 1.43 and a beta of 1.11.

AeroVironment (NASDAQ:AVAV) last announced its quarterly earnings data on Tuesday, June 25th. The aerospace company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.01. AeroVironment had a return on equity of 7.93% and a net margin of 15.09%. The firm had revenue of $87.90 million during the quarter, compared to the consensus estimate of $82.57 million. During the same period in the prior year, the business earned $0.85 EPS. The business’s revenue for the quarter was down 25.1% on a year-over-year basis. On average, equities analysts forecast that AeroVironment, Inc. will post 1.53 earnings per share for the current fiscal year.

In other news, Chairman Timothy E. Conver sold 14,092 shares of the stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $66.04, for a total transaction of $930,635.68. Following the transaction, the chairman now owns 55,659 shares of the company’s stock, valued at approximately $3,675,720.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Timothy E. Conver sold 13,792 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $54.45, for a total value of $750,974.40. Following the transaction, the chairman now directly owns 56,660 shares in the company, valued at approximately $3,085,137. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 76,156 shares of company stock worth $4,604,687. Insiders own 11.70% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of AVAV. Norges Bank acquired a new stake in AeroVironment in the 4th quarter valued at approximately $12,704,000. Stephens Investment Management Group LLC grew its holdings in AeroVironment by 123.2% in the 2nd quarter. Stephens Investment Management Group LLC now owns 274,184 shares of the aerospace company’s stock valued at $15,565,000 after buying an additional 151,347 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in AeroVironment by 21.1% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 455,880 shares of the aerospace company’s stock valued at $25,880,000 after buying an additional 79,456 shares during the last quarter. Nikko Asset Management Americas Inc. grew its holdings in AeroVironment by 21.1% in the 2nd quarter. Nikko Asset Management Americas Inc. now owns 455,880 shares of the aerospace company’s stock valued at $25,880,000 after buying an additional 79,279 shares during the last quarter. Finally, ARK Investment Management LLC grew its holdings in AeroVironment by 49.7% in the 2nd quarter. ARK Investment Management LLC now owns 181,776 shares of the aerospace company’s stock valued at $10,319,000 after buying an additional 60,371 shares during the last quarter. 82.55% of the stock is currently owned by institutional investors and hedge funds.

AeroVironment Company Profile (NASDAQ:AVAV)

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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