ValuEngine lowered shares of AeroVironment, Inc. (NASDAQ:AVAV) from a buy rating to a hold rating in a report released on Wednesday.

AVAV has been the topic of a number of other research reports. Robert W. Baird restated a hold rating and issued a $35.00 price target on shares of AeroVironment in a research note on Monday, August 28th. Zacks Investment Research cut AeroVironment from a strong-buy rating to a hold rating in a research report on Wednesday, November 1st. Canaccord Genuity increased their price objective on AeroVironment from $35.00 to $40.00 and gave the stock a hold rating in a research report on Wednesday, August 30th. Piper Jaffray Companies reiterated a neutral rating and set a $36.00 price objective on shares of AeroVironment in a research report on Thursday, August 31st. Finally, Jefferies Group LLC raised their price target on AeroVironment from $29.00 to $37.00 and gave the stock a hold rating in a research report on Wednesday, August 30th. Seven equities research analysts have rated the stock with a hold rating, The company presently has a consensus rating of Hold and a consensus target price of $39.00.

AeroVironment (NASDAQ AVAV) traded down $0.04 during midday trading on Wednesday, hitting $42.73. The stock had a trading volume of 139,552 shares, compared to its average volume of 237,450. The firm has a market cap of $1,020.00, a P/E ratio of 51.18, a PEG ratio of 4.68 and a beta of 1.24. AeroVironment has a 12 month low of $24.70 and a 12 month high of $55.75.

AeroVironment (NASDAQ:AVAV) last posted its quarterly 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 business had revenue of $43.80 million for the quarter, compared to analysts’ expectations of $42.44 million. During the same quarter in the prior year, the business earned ($0.51) EPS. The firm’s revenue for the quarter was up 21.0% on a year-over-year basis. analysts expect that AeroVironment will post 0.61 EPS for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: “AeroVironment, Inc. (AVAV) Downgraded by ValuEngine” was originally posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this news story on another publication, it was illegally stolen and republished in violation of United States and international copyright and trademark laws. The correct version of this news story can be viewed at https://www.thecerbatgem.com/2017/11/18/aerovironment-inc-avav-downgraded-by-valuengine.html.

In related news, Chairman Timothy E. Conver sold 7,600 shares of the firm’s stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $49.14, for a total value of $373,464.00. Following the sale, the chairman now directly owns 58,138 shares of the company’s stock, valued at $2,856,901.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Timothy E. Conver sold 3,800 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $44.14, for a total value of $167,732.00. Following the completion of the sale, the chairman now directly owns 58,138 shares in the company, valued at $2,566,211.32. The disclosure for this sale can be found here. Insiders sold 43,800 shares of company stock worth $2,135,804 over the last ninety days. 11.00% of the stock is currently owned by insiders.

Several hedge funds have recently made changes to their positions in AVAV. Sei Investments Co. boosted its stake in shares of AeroVironment by 1.8% during the second quarter. Sei Investments Co. now owns 3,450 shares of the aerospace company’s stock valued at $132,000 after purchasing an additional 61 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of AeroVironment by 0.8% during the first quarter. PNC Financial Services Group Inc. now owns 4,860 shares of the aerospace company’s stock valued at $136,000 after purchasing an additional 38 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in shares of AeroVironment by 78.6% during the second quarter. State of Alaska Department of Revenue now owns 4,073 shares of the aerospace company’s stock valued at $155,000 after purchasing an additional 1,793 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its stake in shares of AeroVironment by 3.2% during the second quarter. Municipal Employees Retirement System of Michigan now owns 4,850 shares of the aerospace company’s stock valued at $185,000 after purchasing an additional 150 shares in the last quarter. Finally, Piedmont Investment Advisors LLC acquired a new stake in shares of AeroVironment during the third quarter valued at about $250,000. 76.99% of the stock is currently owned by hedge funds and other 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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.