Brokerages Set AeroVironment Inc. (AVAV) Target Price at $27.25
Shares of AeroVironment Inc. (NASDAQ:AVAV) have been assigned an average recommendation of “Hold” from the eight research firms that are presently covering the stock. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $27.25.
Several equities research analysts recently issued reports on AVAV shares. Canaccord Genuity started coverage on shares of AeroVironment in a research report on Thursday, October 13th. They set a “hold” rating and a $27.00 price objective for the company. Robert W. Baird began coverage on shares of AeroVironment in a research report on Wednesday, October 5th. They set a “neutral” rating and a $24.00 price target for the company. Zacks Investment Research upgraded shares of AeroVironment from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 1st. Piper Jaffray Cos. dropped their price target on shares of AeroVironment from $37.00 to $31.00 and set an “overweight” rating for the company in a research report on Wednesday, August 31st. Finally, Raymond James Financial Inc. reiterated a “hold” rating on shares of AeroVironment in a research report on Wednesday, August 31st.
Shares of AeroVironment (NASDAQ:AVAV) opened at 27.95 on Friday. AeroVironment has a 52-week low of $21.85 and a 52-week high of $32.44. The company’s 50-day moving average is $23.91 and its 200-day moving average is $27.02. The stock has a market cap of $641.62 million, a PE ratio of 153.57 and a beta of 1.25.
AeroVironment (NASDAQ:AVAV) last released its quarterly earnings data on Tuesday, August 30th. The company reported ($0.51) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by $0.34. AeroVironment had a return on equity of 1.22% and a net margin of 1.70%. The firm had revenue of $36.20 million for the quarter, compared to analyst estimates of $37.81 million. During the same quarter in the previous year, the business posted ($0.24) earnings per share. AeroVironment’s revenue for the quarter was down 23.1% on a year-over-year basis. Equities analysts anticipate that AeroVironment will post $0.22 EPS for the current year.
In related news, Chairman Timothy E. Conver sold 8,500 shares of AeroVironment stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $28.74, for a total value of $244,290.00. Following the completion of the transaction, the chairman now owns 51,803 shares in the company, valued at $1,488,818.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Timothy E. Conver sold 4,250 shares of AeroVironment stock in a transaction that occurred on Tuesday, August 30th. The shares were sold at an average price of $29.81, for a total transaction of $126,692.50. Following the completion of the transaction, the chairman now owns 51,803 shares of the company’s stock, valued at approximately $1,544,247.43. The disclosure for this sale can be found here. 12.50% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in AVAV. Royal Bank of Canada boosted its position in shares of AeroVironment by 97.8% in the second quarter. Royal Bank of Canada now owns 3,704 shares of the company’s stock worth $103,000 after buying an additional 1,831 shares during the period. Municipal Employees Retirement System of Michigan boosted its position in shares of AeroVironment by 1.6% in the third quarter. Municipal Employees Retirement System of Michigan now owns 4,550 shares of the company’s stock worth $111,000 after buying an additional 70 shares during the period. Mason Street Advisors LLC acquired a new position in shares of AeroVironment during the second quarter worth $112,000. Raymond James & Associates acquired a new position in shares of AeroVironment during the second quarter worth $203,000. Finally, Commonwealth Equity Services Inc acquired a new position in shares of AeroVironment during the second quarter worth $206,000. Hedge funds and other institutional investors own 69.35% 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, 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.
Receive News & Stock Ratings for AeroVironment Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AeroVironment Inc. and related stocks with our FREE daily email newsletter.