AeroVironment, Inc. (AVAV) Given “Hold” Rating at Robert W. Baird
AeroVironment, Inc. (NASDAQ:AVAV)‘s stock had its “hold” rating reissued by Robert W. Baird in a research note issued to investors on Monday. They presently have a $35.00 price target on the aerospace company’s stock. Robert W. Baird’s target price indicates a potential downside of 9.86% from the company’s current price.
A number of other research analysts also recently weighed in on the company. BidaskClub downgraded AeroVironment from a “buy” rating to a “hold” rating in a research note on Wednesday, August 16th. Canaccord Genuity reissued a “hold” rating and set a $35.00 price target on shares of AeroVironment in a report on Thursday, August 10th. Jefferies Group LLC lifted their price target on AeroVironment from $27.00 to $29.00 and gave the stock a “hold” rating in a report on Wednesday, June 28th. ValuEngine raised AeroVironment from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Zacks Investment Research raised AeroVironment from a “hold” rating to a “strong-buy” rating and set a $42.00 price objective for the company in a report on Friday, June 30th. Eight analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $35.20.
Shares of AeroVironment (NASDAQ AVAV) traded up 0.52% during midday trading on Monday, reaching $39.03. 134,827 shares of the company were exchanged. The company has a market capitalization of $908.11 million, a PE ratio of 72.28 and a beta of 1.31. The firm’s 50 day moving average is $38.28 and its 200-day moving average is $31.67. AeroVironment has a 52-week low of $22.16 and a 52-week high of $40.10.
AeroVironment (NASDAQ:AVAV) last released its quarterly earnings results on Tuesday, June 27th. The aerospace company reported $1.30 EPS for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.31. The company had revenue of $125.40 million for the quarter, compared to analyst estimates of $122.90 million. AeroVironment had a return on equity of 3.49% and a net margin of 4.71%. AeroVironment’s revenue was up 47.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.23 earnings per share. On average, equities analysts forecast that AeroVironment will post $0.54 earnings per share for the current fiscal year.
In other news, VP Kenneth D. Karklin sold 735 shares of the company’s stock in a transaction that occurred on Friday, July 14th. The stock was sold at an average price of $39.57, for a total value of $29,083.95. Following the completion of the transaction, the vice president now directly owns 9,437 shares of the company’s stock, valued at $373,422.09. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Timothy E. Conver sold 11,362 shares of the company’s stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $39.19, for a total value of $445,276.78. Following the completion of the transaction, the chairman now directly owns 58,138 shares of the company’s stock, valued at $2,278,428.22. The disclosure for this sale can be found here. Insiders have sold a total of 79,497 shares of company stock valued at $3,034,461 over the last three months. Corporate insiders own 11.00% of the company’s stock.
A number of institutional investors have recently made changes to their positions in AVAV. Sei Investments Co. increased its stake in AeroVironment by 1.8% in the second quarter. Sei Investments Co. now owns 3,450 shares of the aerospace company’s stock valued at $132,000 after buying an additional 61 shares in the last quarter. Mason Street Advisors LLC increased its stake in shares of AeroVironment by 7.0% in the first quarter. Mason Street Advisors LLC now owns 4,813 shares of the aerospace company’s stock worth $135,000 after buying an additional 316 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of AeroVironment by 0.8% in the first quarter. PNC Financial Services Group Inc. now owns 4,860 shares of the aerospace company’s stock worth $136,000 after buying an additional 38 shares during the period. State of Alaska Department of Revenue increased its stake in shares of AeroVironment by 78.6% in the second quarter. State of Alaska Department of Revenue now owns 4,073 shares of the aerospace company’s stock worth $155,000 after buying an additional 1,793 shares during the period. Finally, Municipal Employees Retirement System of Michigan increased its stake in shares of AeroVironment by 3.2% in the second quarter. Municipal Employees Retirement System of Michigan now owns 4,850 shares of the aerospace company’s stock worth $185,000 after buying an additional 150 shares during the period. 77.55% of the stock is owned by institutional investors and hedge funds.
AeroVironment Company Profile
AeroVironment, Inc designs, develops, produces, supports and operates a portfolio of products and services for government agencies, businesses and consumers. The Company operates through two segments: Unmanned Aircraft Systems (UAS), which focuses primarily on the design, development, production, support and operation of UAS and tactical missile systems that provide situational awareness, multi-band communications, force protection and other mission effects, and Efficient Energy Systems (EES), which focuses primarily on the design, development, production, marketing, support and operation of electric energy systems.
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