Piper Sandler Lowers AeroVironment (NASDAQ:AVAV) Price Target to $248.00

AeroVironment (NASDAQ:AVAV) had its target price cut by equities researchers at Piper Sandler from $290.00 to $248.00 in a research report issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the aerospace company’s stock. Piper Sandler’s price target suggests a potential upside of 81.45% from the company’s current price.

Other analysts have also recently issued reports about the company. Weiss Ratings reiterated a “sell (d)” rating on shares of AeroVironment in a report on Monday, June 8th. Citizens Jmp dropped their price target on shares of AeroVironment from $400.00 to $350.00 and set a “market outperform” rating on the stock in a research report on Wednesday, March 11th. Canaccord Genuity Group reduced their price objective on shares of AeroVironment from $330.00 to $300.00 and set a “buy” rating on the stock in a research note on Thursday, March 12th. UBS Group decreased their price objective on shares of AeroVironment from $259.00 to $236.00 and set a “neutral” rating for the company in a research report on Wednesday, March 11th. Finally, Robert W. Baird lowered their target price on shares of AeroVironment from $260.00 to $235.00 and set an “outperform” rating for the company in a research note on Wednesday, March 11th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $305.33.

AeroVironment Trading Down 3.9%

Shares of AVAV stock opened at $136.68 on Friday. The stock has a market cap of $6.82 billion, a price-to-earnings ratio of -31.49, a PEG ratio of 1.95 and a beta of 1.35. The stock has a 50-day moving average of $179.12 and a 200-day moving average of $227.22. The company has a current ratio of 5.51, a quick ratio of 4.54 and a debt-to-equity ratio of 0.17. AeroVironment has a 1-year low of $135.20 and a 1-year high of $417.86.

Insider Transactions at AeroVironment

In other AeroVironment news, Director Stephen F. Page sold 250 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $174.41, for a total value of $43,602.50. Following the transaction, the director directly owned 49,001 shares of the company’s stock, valued at approximately $8,546,264.41. The trade was a 0.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 750 shares of company stock valued at $133,502 over the last quarter. 0.81% of the stock is currently owned by insiders.

Institutional Trading of AeroVironment

Hedge funds have recently modified their holdings of the stock. Sunbelt Securities Inc. bought a new position in AeroVironment during the first quarter worth $25,000. Tema Etfs LLC bought a new stake in AeroVironment in the fourth quarter valued at $26,000. Hilton Head Capital Partners LLC acquired a new position in shares of AeroVironment during the fourth quarter valued at about $26,000. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of AeroVironment during the first quarter valued at about $28,000. Finally, KERR FINANCIAL PLANNING Corp bought a new position in shares of AeroVironment during the 3rd quarter worth about $29,000. Institutional investors own 86.38% of the company’s stock.

Trending Headlines about AeroVironment

Here are the key news stories impacting AeroVironment this week:

• Positive Sentiment: AeroVironment appointed William J. Lynn III, former deputy defense secretary, to its board of directors, a move that could strengthen the company’s defense-industry credibility and governance. AV Appoints William J. Lynn III to Board of Directors
• Neutral Sentiment: Several articles highlighted AeroVironment’s role in the growing drone-defense market and noted that investors are looking ahead to upcoming earnings and backlog-to-revenue conversion trends. 2 Space and Defense Stocks Turning Backlogs Into Revenue Growth (AVAV)
• Neutral Sentiment: Analyst and preview pieces focused on AeroVironment’s upcoming quarterly results and valuation, with attention on revenue, profitability, and key operating metrics. Exploring Analyst Estimates for AeroVironment (AVAV) Q4 Earnings, Beyond Revenue and EPS
• Negative Sentiment: AeroVironment disclosed an $89 million goodwill impairment tied to its space unit and said it had weaknesses in internal controls, raising concerns about the reliability of prior financial reporting. AeroVironment (AVAV) Faces Lawsuits And Restates Earnings Over $89 Million Error
• Negative Sentiment: Multiple law firms announced or promoted class-action lawsuits and lead-plaintiff deadlines for AVAV investors, reinforcing the market’s concern that the stock may face further legal and reputational fallout. Pomerantz Law Firm Announces the Filing of a Class Action Against AeroVironment, Inc. and Certain Officers – AVAV
• Negative Sentiment: Recent reports also pointed to a sharp stock drop after the contract-related and accounting revelations, which appears to be the main driver behind the weakness in AeroVironment shares. AVAV Fraud Alert: AeroVironment Investors Sue for Recovery in Securities Fraud Class Action after 17% Stock Drop

AeroVironment Company Profile

AeroVironment, Inc (NASDAQ:AVAV) is a technology company specializing in unmanned aerial systems (UAS), tactical missiles and precision loitering munitions, electric vehicle charging and scalable energy systems. Headquartered in Monrovia, California, the company develops solutions for defense, public safety and commercial markets. Their offerings include small UAS for intelligence, surveillance and reconnaissance, as well as advanced weapons systems designed to meet the needs of modern military operations.

The company’s unmanned aerial systems portfolio features platforms such as the Raven, Puma and Switchblade series, which are deployed by the U.S.