AeroVironment, Inc. (NASDAQ:AVAV) Receives Average Rating of “Buy” from Brokerages

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Shares of AeroVironment, Inc. (NASDAQ:AVAV) have been given a consensus recommendation of “Buy” by the nine brokerages that are currently covering the stock, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $70.75.

AVAV has been the topic of several research reports. Piper Jaffray Companies dropped their target price on AeroVironment from $79.00 to $74.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 4th. Zacks Investment Research raised AeroVironment from a “hold” rating to a “strong-buy” rating and set a $64.00 target price on the stock in a research report on Friday, September 6th. Canaccord Genuity set a $80.00 target price on AeroVironment and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Robert W. Baird reaffirmed a “neutral” rating and issued a $65.00 target price (down from $83.00) on shares of AeroVironment in a research report on Wednesday, June 26th. Finally, ValuEngine lowered AeroVironment from a “buy” rating to a “hold” rating in a research report on Monday, June 17th.

In other news, Chairman Timothy E. Conver sold 13,792 shares of the company’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $55.24, for a total transaction of $761,870.08. Following the completion of the sale, the chairman now owns 56,660 shares in the company, valued at approximately $3,129,898.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Timothy E. Conver sold 6,896 shares of the company’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $55.37, for a total value of $381,831.52. Following the sale, the chairman now owns 56,660 shares of the company’s stock, valued at approximately $3,137,264.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 68,960 shares of company stock valued at $3,786,456. 10.50% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Arizona State Retirement System boosted its stake in shares of AeroVironment by 0.6% during the 2nd quarter. Arizona State Retirement System now owns 33,040 shares of the aerospace company’s stock worth $1,876,000 after acquiring an additional 188 shares in the last quarter. Mason Street Advisors LLC boosted its stake in shares of AeroVironment by 3.4% during the 1st quarter. Mason Street Advisors LLC now owns 6,839 shares of the aerospace company’s stock worth $468,000 after acquiring an additional 226 shares in the last quarter. UBS Asset Management Americas Inc. boosted its stake in shares of AeroVironment by 1.4% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 16,197 shares of the aerospace company’s stock worth $920,000 after acquiring an additional 226 shares in the last quarter. Royal Bank of Canada boosted its stake in AeroVironment by 4.7% during the 2nd quarter. Royal Bank of Canada now owns 5,935 shares of the aerospace company’s stock valued at $337,000 after purchasing an additional 264 shares during the period. Finally, Piedmont Investment Advisors Inc. boosted its stake in AeroVironment by 5.7% during the 1st quarter. Piedmont Investment Advisors Inc. now owns 5,356 shares of the aerospace company’s stock valued at $366,000 after purchasing an additional 290 shares during the period. Institutional investors own 83.33% of the company’s stock.

Shares of AVAV stock opened at $63.59 on Thursday. The company has a debt-to-equity ratio of 0.02, a current ratio of 10.56 and a quick ratio of 9.26. AeroVironment has a fifty-two week low of $48.61 and a fifty-two week high of $121.32. The stock’s 50-day moving average is $53.61 and its two-hundred day moving average is $62.66. The firm has a market cap of $1.46 billion, a P/E ratio of 42.97, a PEG ratio of 1.48 and a beta of 1.14.

AeroVironment (NASDAQ:AVAV) last issued its earnings results on Wednesday, September 4th. The aerospace company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.39. AeroVironment had a return on equity of 8.55% and a net margin of 11.52%. The company had revenue of $86.91 million for the quarter, compared to analyst estimates of $85.25 million. As a group, research analysts expect that AeroVironment will post 1.65 EPS for the current year.

About AeroVironment

AeroVironment, Inc designs, develops, produces, supports, and operates a portfolio of products and services for government agencies and businesses. The company offers unmanned aircraft systems (UAS) and related services primarily to organizations within the U.S. Department of Defense and to international allied governments; and tactical missile systems and related services to organizations within the U.S.

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Analyst Recommendations for AeroVironment (NASDAQ:AVAV)

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