Timothy E. Conver Sells 7,600 Shares of AeroVironment, Inc. (AVAV) Stock
AeroVironment, Inc. (NASDAQ:AVAV) Chairman Timothy E. Conver sold 7,600 shares of the stock in a transaction dated Thursday, October 19th. The shares were sold at an average price of $51.12, for a total value of $388,512.00. Following the completion of the sale, the chairman now directly owns 58,138 shares of the company’s stock, valued at approximately $2,972,014.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Shares of AeroVironment, Inc. (NASDAQ:AVAV) opened at 52.65 on Friday. The stock has a 50 day moving average price of $51.86 and a 200 day moving average price of $38.30. AeroVironment, Inc. has a 52 week low of $22.62 and a 52 week high of $55.75. The firm has a market cap of $1.23 billion, a PE ratio of 62.01 and a beta of 1.29.
AeroVironment (NASDAQ:AVAV) last released its earnings results on Tuesday, August 29th. The aerospace company reported ($0.19) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.15. AeroVironment had a return on equity of 5.40% and a net margin of 7.22%. The company had revenue of $43.80 million during the quarter, compared to analyst estimates of $42.44 million. During the same quarter in the previous year, the company posted ($0.51) EPS. AeroVironment’s revenue for the quarter was up 21.0% on a year-over-year basis. Equities analysts expect that AeroVironment, Inc. will post $0.61 earnings per share for the current year.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Fisher Asset Management LLC bought a new stake in shares of AeroVironment in the 3rd quarter valued at about $1,904,000. Lord Abbett & CO. LLC bought a new stake in shares of AeroVironment in the 2nd quarter valued at about $3,642,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of AeroVironment in the 2nd quarter valued at about $757,000. Argent Capital Management LLC bought a new stake in shares of AeroVironment in the 2nd quarter valued at about $1,331,000. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its stake in shares of AeroVironment by 49.6% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17,273 shares of the aerospace company’s stock valued at $630,000 after acquiring an additional 5,727 shares during the last quarter. 77.54% of the stock is owned by institutional investors.
Several brokerages have recently weighed in on AVAV. Canaccord Genuity increased their price target on AeroVironment from $40.00 to $48.00 and gave the company a “hold” rating in a research note on Wednesday, October 4th. Piper Jaffray Companies reissued a “neutral” rating and issued a $36.00 price target on shares of AeroVironment in a research note on Thursday, August 31st. Jefferies Group LLC increased their price target on AeroVironment from $29.00 to $37.00 and gave the company a “hold” rating in a research note on Wednesday, August 30th. Robert W. Baird reissued a “hold” rating and issued a $35.00 price target on shares of AeroVironment in a research note on Monday, August 28th. Finally, TheStreet raised AeroVironment from a “c-” rating to a “b” rating in a research note on Tuesday, June 27th. Six analysts have rated the stock with a hold rating, The stock has an average rating of “Hold” and a consensus target price of $39.00.
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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