Piper Jaffray Companies Downgrades AeroVironment, Inc. (NASDAQ:AVAV) to Neutral

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.

About AeroVironment

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.

Analyst Recommendations for AeroVironment (NASDAQ:AVAV)

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