Piper Jaffray Companies downgraded shares of AeroVironment, Inc. (NASDAQ:AVAV) from an overweight rating to a neutral rating in a report released on Monday, July 3rd, MarketBeat Ratings reports. They currently have $35.00 price objective on the aerospace company’s stock, up from their previous price objective of $30.00.
Other equities analysts also recently issued research reports about the company. Zacks Investment Research raised AeroVironment from a hold rating to a strong-buy rating and set a $42.00 target price on the stock in a research report on Friday, June 30th. Jefferies Group LLC boosted their target price on AeroVironment from $27.00 to $29.00 and gave the company a hold rating in a research report on Wednesday, June 28th. ValuEngine raised AeroVironment from a sell rating to a hold rating in a research report on Friday, June 2nd. TheStreet raised AeroVironment from a c- rating to a b rating in a research report on Tuesday, June 27th. Finally, Canaccord Genuity reaffirmed a hold rating and issued a $29.00 price objective on shares of AeroVironment in a research report on Friday, April 7th. Seven equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $31.80.
Shares of AeroVironment (AVAV) traded up 0.24% during mid-day trading on Monday, reaching $37.75. 154,898 shares of the company’s stock traded hands. The firm has a 50-day moving average of $35.69 and a 200 day moving average of $29.96. AeroVironment has a 12-month low of $22.16 and a 12-month high of $40.10. The company has a market cap of $895.81 million, a P/E ratio of 69.91 and a beta of 1.31.
AeroVironment (NASDAQ:AVAV) last issued its quarterly earnings data on Tuesday, June 27th. The aerospace company reported $1.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.31. The business had revenue of $125.40 million for the quarter, compared to analysts’ expectations of $122.90 million. AeroVironment had a return on equity of 3.49% and a net margin of 4.71%. The company’s revenue for the quarter was up 47.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.23 EPS. Equities analysts forecast that AeroVironment will post $0.54 EPS for the current year.
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In other news, Chairman Timothy E. Conver sold 4,000 shares of the stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $31.74, for a total transaction of $126,960.00. Following the transaction, the chairman now owns 66,621 shares of the company’s stock, valued at approximately $2,114,550.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Timothy E. Conver sold 7,600 shares of the stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $38.19, for a total value of $290,244.00. Following the transaction, the chairman now directly owns 58,138 shares in the company, valued at approximately $2,220,290.22. The disclosure for this sale can be found here. Insiders have sold a total of 84,297 shares of company stock worth $3,051,833 in the last three months. Corporate insiders own 12.50% of the company’s stock.
Large investors have recently modified their holdings of the company. Russell Investments Group Ltd. bought a new stake in shares of AeroVironment during the fourth quarter worth $870,000. Comerica Bank boosted its stake in shares of AeroVironment by 5.3% in the fourth quarter. Comerica Bank now owns 21,891 shares of the aerospace company’s stock worth $566,000 after buying an additional 1,100 shares during the period. State Street Corp boosted its stake in shares of AeroVironment by 22.0% in the fourth quarter. State Street Corp now owns 576,013 shares of the aerospace company’s stock worth $15,451,000 after buying an additional 103,833 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of AeroVironment by 6.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,338,616 shares of the aerospace company’s stock worth $35,915,000 after buying an additional 82,838 shares during the period. Finally, FMR LLC bought a new stake in shares of AeroVironment during the fourth quarter worth $3,652,000. Hedge funds and other institutional investors own 81.53% of the company’s stock.
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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