Canaccord Genuity began coverage on shares of AeroVironment Inc. (NASDAQ:AVAV) in a research report report published on Thursday. The firm issued a hold rating on the stock.

Several other equities analysts also recently commented on AVAV. Zacks Investment Research upgraded AeroVironment from a hold rating to a buy rating and set a $31.00 price objective on the stock in a research report on Tuesday, July 12th. Jefferies Group restated a hold rating and issued a $27.00 price objective on shares of AeroVironment in a research report on Friday, August 12th. Piper Jaffray Cos. lowered their price objective on AeroVironment from $37.00 to $31.00 and set an overweight rating on the stock in a research report on Wednesday, August 31st. Stifel Nicolaus restated a hold rating on shares of AeroVironment in a research report on Thursday, September 1st. Finally, Raymond James Financial Inc. restated a hold rating on shares of AeroVironment in a research report on Wednesday, August 31st. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. AeroVironment has a consensus rating of Hold and an average target price of $28.80.

Shares of AeroVironment (NASDAQ:AVAV) traded down 0.31% during midday trading on Thursday, reaching $22.46. The company had a trading volume of 31,827 shares. The stock has a 50-day moving average of $24.70 and a 200 day moving average of $27.65. AeroVironment has a 52 week low of $21.10 and a 52 week high of $32.44. The firm has a market capitalization of $515.59 million, a price-to-earnings ratio of 123.41 and a beta of 1.34.

AeroVironment (NASDAQ:AVAV) last released its earnings results on Tuesday, August 30th. The company reported ($0.51) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by $0.34. AeroVironment had a net margin of 1.70% and a return on equity of 1.22%. The company had revenue of $36.20 million for the quarter, compared to analysts’ expectations of $37.81 million. During the same quarter last year, the firm posted ($0.24) earnings per share. AeroVironment’s revenue for the quarter was down 23.1% on a year-over-year basis. On average, analysts anticipate that AeroVironment will post $0.20 earnings per share for the current year.

In other AeroVironment news, Chairman Timothy E. Conver sold 11,700 shares of the business’s stock in a transaction that occurred on Wednesday, July 20th. The stock was sold at an average price of $27.56, for a total transaction of $322,452.00. Following the sale, the chairman now directly owns 51,803 shares of the company’s stock, valued at $1,427,690.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Timothy E. Conver sold 8,500 shares of the business’s stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $28.74, for a total value of $244,290.00. Following the sale, the chairman now directly owns 51,803 shares in the company, valued at $1,488,818.22. The disclosure for this sale can be found here. 12.50% of the stock is owned by insiders.

A number of large investors have recently modified their holdings of AVAV. Aperio Group LLC boosted its stake in shares of AeroVironment by 6.3% in the first quarter. Aperio Group LLC now owns 10,321 shares of the company’s stock valued at $292,000 after buying an additional 608 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake 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 valued at $15,287,000 after buying an additional 4,936 shares during the last quarter. UBS Group AG boosted its stake in shares of AeroVironment by 15.2% in the first quarter. UBS Group AG now owns 45,616 shares of the company’s stock valued at $1,291,000 after buying an additional 6,007 shares during the last quarter. Prudential Financial Inc. boosted its stake in shares of AeroVironment by 3.4% in the first quarter. Prudential Financial Inc. now owns 49,306 shares of the company’s stock valued at $1,396,000 after buying an additional 1,600 shares during the last quarter. Finally, Suffolk Capital Management LLC boosted its stake in shares of AeroVironment by 44.1% in the second quarter. Suffolk Capital Management LLC now owns 90,574 shares of the company’s stock valued at $2,518,000 after buying an additional 27,704 shares during the last quarter. 62.74% of the stock is currently owned by institutional investors.

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.

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