William Blair cut shares of AeroVironment (NASDAQ:AVAV) from an outperform rating to a market perform rating in a research report sent to investors on Thursday morning, BenzingaRatingsTable reports.

Several other research analysts have also recently issued reports on the company. Piper Jaffray Companies reissued a buy rating and issued a $76.00 price objective on shares of AeroVironment in a research note on Wednesday, November 20th. BidaskClub cut AeroVironment from a buy rating to a hold rating in a research note on Thursday. Robert W. Baird raised AeroVironment from a neutral rating to an outperform rating and increased their price objective for the stock from $65.00 to $81.00 in a research note on Monday, December 2nd. ValuEngine raised AeroVironment from a hold rating to a buy rating in a research note on Thursday, February 6th. Finally, Zacks Investment Research cut AeroVironment from a buy rating to a hold rating in a research note on Friday, November 8th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $75.25.

Shares of AVAV traded down $6.15 during mid-day trading on Thursday, reaching $63.82. 707,698 shares of the company’s stock traded hands, compared to its average volume of 211,635. The stock has a market cap of $1.67 billion, a P/E ratio of 39.64, a P/E/G ratio of 1.67 and a beta of 1.14. The stock’s 50-day moving average is $67.80 and its two-hundred day moving average is $60.11. AeroVironment has a 12 month low of $48.61 and a 12 month high of $95.38. The company has a debt-to-equity ratio of 0.01, a current ratio of 10.18 and a quick ratio of 9.01.

AeroVironment (NASDAQ:AVAV) last released its earnings results on Tuesday, December 3rd. The aerospace company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.05. The firm had revenue of $83.30 million for the quarter, compared to analysts’ expectations of $80.53 million. AeroVironment had a return on equity of 8.59% and a net margin of 11.60%. The company’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.29 earnings per share. Research analysts predict that AeroVironment will post 1.63 earnings per share for the current year.

In related news, Chairman Timothy E. Conver sold 7,896 shares of the stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $67.93, for a total value of $536,375.28. Following the transaction, the chairman now owns 56,032 shares of the company’s stock, valued at $3,806,253.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Timothy E. Conver sold 6,896 shares of the stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $60.86, for a total value of $419,690.56. Following the completion of the transaction, the chairman now directly owns 56,032 shares in the company, valued at approximately $3,410,107.52. The disclosure for this sale can be found here. In the last three months, insiders sold 35,480 shares of company stock worth $2,278,719. 10.50% of the stock is owned by insiders.

Large investors have recently made changes to their positions in the stock. Valeo Financial Advisors LLC bought a new position in AeroVironment in the fourth quarter worth approximately $25,000. Lenox Wealth Advisors LLC purchased a new stake in AeroVironment during the fourth quarter worth $27,000. Oppenheimer Asset Management Inc. purchased a new stake in AeroVironment during the third quarter worth $46,000. TFO TDC LLC purchased a new stake in AeroVironment during the fourth quarter worth $61,000. Finally, Cutler Group LP lifted its holdings in AeroVironment by 126.6% during the third quarter. Cutler Group LP now owns 1,287 shares of the aerospace company’s stock worth $68,000 after buying an additional 6,123 shares during the period. 85.86% of the stock is currently owned by institutional investors.

About AeroVironment

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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