AeroVironment, Inc. (NASDAQ:AVAV) Receives $73.00 Average PT from Brokerages

AeroVironment, Inc. (NASDAQ:AVAV) has been given an average recommendation of “Hold” by the nine research firms that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $73.00.

Several analysts have weighed in on the company. ValuEngine cut AeroVironment from a “buy” rating to a “hold” rating in a research report on Monday, June 17th. Canaccord Genuity decreased their price target on shares of AeroVironment from $86.00 to $80.00 and set an “in-line” rating for the company in a research note on Wednesday, June 26th. Robert W. Baird restated a “neutral” rating and set a $65.00 price objective (down previously from $83.00) on shares of AeroVironment in a research report on Wednesday, June 26th. William Blair restated a “buy” rating on shares of AeroVironment in a research report on Wednesday. Finally, Piper Jaffray Companies cut their price objective on shares of AeroVironment from $79.00 to $74.00 and set a “neutral” rating for the company in a research report on Tuesday, June 4th.

AeroVironment stock traded down $2.00 during trading hours on Friday, hitting $50.78. 139,242 shares of the stock traded hands, compared to its average volume of 141,111. The firm’s 50-day moving average price is $53.77 and its two-hundred day moving average price is $65.51. The company has a market cap of $1.27 billion, a PE ratio of 34.31, a PEG ratio of 1.38 and a beta of 1.11. AeroVironment has a one year low of $49.69 and a one year high of $121.32.

AeroVironment (NASDAQ:AVAV) last posted its quarterly earnings data on Tuesday, June 25th. The aerospace company reported $0.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.01. The business had revenue of $87.90 million for the quarter, compared to analysts’ expectations of $82.57 million. AeroVironment had a return on equity of 7.93% and a net margin of 15.09%. The business’s revenue was down 25.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.85 EPS. On average, equities research analysts predict that AeroVironment will post 1.53 earnings per share for the current year.

In related news, Chairman Timothy E. Conver sold 13,792 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $63.35, for a total value of $873,723.20. Following the sale, the chairman now directly owns 55,659 shares of the company’s stock, valued at $3,525,997.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Timothy E. Conver sold 6,896 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $50.93, for a total transaction of $351,213.28. Following the completion of the sale, the chairman now directly owns 56,660 shares in the company, valued at $2,885,693.80. The disclosure for this sale can be found here. Insiders have sold a total of 89,948 shares of company stock worth $5,208,983 over the last ninety days. 10.50% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of AVAV. Royal Bank of Canada boosted its holdings in AeroVironment by 4.7% in the second quarter. Royal Bank of Canada now owns 5,935 shares of the aerospace company’s stock worth $337,000 after purchasing an additional 264 shares during the period. Ladenburg Thalmann Financial Services Inc. boosted its holdings in AeroVironment by 18.0% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 13,589 shares of the aerospace company’s stock worth $753,000 after purchasing an additional 2,072 shares during the period. Voloridge Investment Management LLC acquired a new position in AeroVironment in the second quarter worth $879,000. Nuveen Asset Management LLC acquired a new position in AeroVironment in the second quarter worth $5,013,000. Finally, Price T Rowe Associates Inc. MD boosted its holdings in AeroVironment by 2.8% in the second quarter. Price T Rowe Associates Inc. MD now owns 13,204 shares of the aerospace company’s stock worth $750,000 after purchasing an additional 358 shares during the period. Hedge funds and other institutional investors own 83.53% of the company’s stock.

AeroVironment Company Profile

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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