AeroVironment Inc. (AVAV) Receives New Coverage from Analysts at Robert W. Baird
Robert W. Baird started coverage on shares of AeroVironment Inc. (NASDAQ:AVAV) in a research report sent to investors on Wednesday morning. The brokerage issued a neutral rating and a $24.00 price target on the stock.
AVAV has been the subject of several other research reports. Stifel Nicolaus restated a hold rating on shares of AeroVironment in a report on Thursday, September 1st. Zacks Investment Research lowered shares of AeroVironment from a buy rating to a hold rating in a report on Friday, July 29th. Jefferies Group reiterated a hold rating and issued a $27.00 price objective on shares of AeroVironment in a research note on Friday, August 12th. Canaccord Genuity reiterated a hold rating on shares of AeroVironment in a research note on Wednesday, June 29th. Finally, Raymond James Financial Inc. reiterated a hold rating on shares of AeroVironment in a research note on Wednesday, August 31st. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $28.80.
Shares of AeroVironment (NASDAQ:AVAV) traded down 2.97% during trading on Wednesday, hitting $23.82. 35,198 shares of the company’s stock were exchanged. AeroVironment has a 1-year low of $20.79 and a 1-year high of $32.44. The stock’s 50-day moving average price is $25.70 and its 200-day moving average price is $27.85. The stock has a market cap of $546.81 million, a PE ratio of 130.88 and a beta of 1.34.
AeroVironment (NASDAQ:AVAV) last issued its quarterly earnings data on Tuesday, August 30th. The company reported ($0.51) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by $0.34. The business earned $36.20 million during the quarter, compared to the consensus estimate of $37.81 million. AeroVironment had a net margin of 1.70% and a return on equity of 1.22%. The firm’s quarterly revenue was down 23.1% compared to the same quarter last year. During the same quarter last year, the business earned ($0.24) EPS. On average, equities analysts expect that AeroVironment will post $0.20 earnings per share for the current fiscal year.
In other AeroVironment news, Chairman Timothy E. Conver sold 11,700 shares of AeroVironment stock in a transaction on Wednesday, July 20th. The shares were sold at an average price of $27.56, for a total transaction of $322,452.00. Following the transaction, the chairman now directly owns 51,803 shares of the company’s stock, valued at approximately $1,427,690.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Timothy E. Conver sold 4,250 shares of AeroVironment stock in a transaction on Tuesday, August 30th. The stock was sold at an average price of $29.81, for a total transaction of $126,692.50. Following the transaction, the chairman now directly owns 51,803 shares in the company, valued at $1,544,247.43. The disclosure for this sale can be found here. Company insiders own 12.50% of the company’s stock.
A number of institutional investors have recently bought and sold shares of AVAV. Aperio Group LLC increased its position in AeroVironment by 6.3% in the first quarter. Aperio Group LLC now owns 10,321 shares of the company’s stock worth $292,000 after buying an additional 608 shares in the last quarter. Huntington Asset Advisors Inc. bought a new position in shares of AeroVironment during the first quarter worth $510,000. BlackRock Institutional Trust Company N.A. increased its position in shares of AeroVironment by 0.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 539,784 shares of the company’s stock worth $15,287,000 after buying an additional 4,936 shares during the period. UBS Group AG increased its position in shares of AeroVironment by 15.2% in the first quarter. UBS Group AG now owns 45,616 shares of the company’s stock worth $1,291,000 after buying an additional 6,007 shares during the period. Finally, Prudential Financial Inc. increased its position in shares of AeroVironment by 3.4% in the first quarter. Prudential Financial Inc. now owns 49,306 shares of the company’s stock worth $1,396,000 after buying an additional 1,600 shares during the period. 62.74% of the stock is currently owned by hedge funds and other institutional investors.
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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