AeroVironment Shares Down 6.4% on Disappointing Earnings (AVAV)
Shares of AeroVironment (NASDAQ:AVAV) were down 6.4% on Thursday after the company announced weaker than expected quarterly earnings, Stock Ratings Network reports. The stock traded as low as $31.31 and last traded at $31.49, with a volume of 611,316 shares traded. The stock had previously closed at $33.65.
The company reported ($0.16) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.11) by $0.05. The company had revenue of $51.90 million for the quarter, compared to the consensus estimate of $50.70 million. During the same quarter last year, the company posted ($0.32) earnings per share.
AVAV has been the subject of a number of recent research reports. Analysts at Benchmark Co. upgraded shares of AeroVironment from a “hold” rating to a “buy” rating in a research note on Thursday. Separately, analysts at Jefferies Group reiterated a “hold” rating on shares of AeroVironment in a research note on Wednesday, July 9th. They now have a $30.00 price target on the stock, up previously from $29.00. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $29.50.
The stock has a 50-day moving average of $32.04 and a 200-day moving average of $33.83. The company has a market cap of $714.2 million and a P/E ratio of 56.08.
AeroVironment, Inc designs, develops, produces and supports a portfolio of products and services. The Company operates in two segments: Unmanned Aircraft Systems (NASDAQ:AVAV) and Efficient Energy Systems (EES).
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