AeroVironment (AVAV) Cut to “Hold” at ValuEngine

ValuEngine cut shares of AeroVironment (NASDAQ:AVAV) from a buy rating to a hold rating in a research report sent to investors on Thursday, April 4th, ValuEngine reports.

A number of other equities research analysts have also weighed in on the company. Zacks Investment Research lowered AeroVironment from a buy rating to a hold rating in a research report on Monday, February 4th. William Blair assumed coverage on AeroVironment in a report on Thursday, January 24th. They issued an outperform rating and a $73.60 price target for the company. TheStreet lowered AeroVironment from an a- rating to a c+ rating in a research report on Monday, March 11th. Finally, BidaskClub lowered AeroVironment from a buy rating to a hold rating in a research report on Saturday, March 16th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. AeroVironment has an average rating of Hold and an average target price of $77.60.

NASDAQ AVAV traded up $0.69 during trading on Thursday, hitting $69.53. 147,383 shares of the stock traded hands, compared to its average volume of 271,622. The stock has a market capitalization of $1.66 billion, a PE ratio of 64.38, a P/E/G ratio of 1.84 and a beta of 1.33. AeroVironment has a 12-month low of $49.69 and a 12-month high of $121.32.

AeroVironment (NASDAQ:AVAV) last released its quarterly earnings results on Tuesday, March 5th. The aerospace company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.21. The business had revenue of $75.32 million during the quarter, compared to analysts’ expectations of $75.30 million. AeroVironment had a return on equity of 11.40% and a net margin of 17.48%. Equities analysts predict that AeroVironment will post 1.49 EPS for the current fiscal year.

In other AeroVironment news, Chairman Timothy E. Conver sold 20,688 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $82.88, for a total value of $1,714,621.44. Following the completion of the transaction, the chairman now directly owns 55,659 shares of the company’s stock, valued at approximately $4,613,017.92. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Timothy E. Conver sold 20,700 shares of the company’s stock in a transaction dated Friday, February 22nd. The shares were sold at an average price of $81.53, for a total transaction of $1,687,671.00. Following the completion of the sale, the chairman now owns 55,659 shares in the company, valued at approximately $4,537,878.27. The disclosure for this sale can be found here. Insiders have sold a total of 114,985 shares of company stock worth $8,642,155 in the last three months. Corporate insiders own 11.70% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in AeroVironment by 13.0% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,085 shares of the aerospace company’s stock worth $570,000 after acquiring an additional 584 shares during the last quarter. Alliancebernstein L.P. raised its stake in shares of AeroVironment by 17.7% during the 3rd quarter. Alliancebernstein L.P. now owns 29,871 shares of the aerospace company’s stock worth $3,351,000 after purchasing an additional 4,500 shares during the period. AXA bought a new stake in shares of AeroVironment during the 3rd quarter worth $348,000. Hsbc Holdings PLC bought a new stake in shares of AeroVironment during the 3rd quarter worth $213,000. Finally, Royce & Associates LP raised its stake in shares of AeroVironment by 48.9% during the 3rd quarter. Royce & Associates LP now owns 33,500 shares of the aerospace company’s stock worth $3,758,000 after purchasing an additional 11,000 shares during the period. Institutional investors and hedge funds own 85.61% of the company’s stock.

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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