AeroVironment Inc. (AVAV) Trading Up 4.4%
AeroVironment Inc. (NASDAQ:AVAV)’s share price was up 4.4% during mid-day trading on Wednesday . The stock traded as high as $24.74 and last traded at $24.72, with a volume of 106,818 shares changing hands. The stock had previously closed at $23.67.
Several equities analysts recently issued reports on AVAV shares. Piper Jaffray Cos. reissued a “buy” rating and issued a $36.00 target price on shares of AeroVironment in a research report on Wednesday, June 1st. Zacks Investment Research raised shares of AeroVironment from a “hold” rating to a “strong-buy” rating and set a $34.00 price target on the stock in a report on Tuesday, August 30th. Canaccord Genuity reaffirmed a “hold” rating on shares of AeroVironment in a report on Wednesday, June 29th. Raymond James Financial Inc. reaffirmed a “hold” rating on shares of AeroVironment in a report on Wednesday, August 31st. Finally, Jefferies Group reaffirmed a “hold” rating and issued a $27.00 price target on shares of AeroVironment in a report on Friday, August 12th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. AeroVironment presently has an average rating of “Hold” and a consensus price target of $30.00.
The stock has a 50 day moving average of $26.95 and a 200-day moving average of $28.06. The stock has a market cap of $582.16 million, a price-to-earnings ratio of 139.34 and a beta of 1.23.
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AeroVironment (NASDAQ:AVAV) last released its quarterly earnings data on Tuesday, August 30th. The company reported ($0.51) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by $0.34. The firm had revenue of $36.20 million for the quarter, compared to analysts’ expectations of $37.81 million. AeroVironment had a return on equity of 1.22% and a net margin of 1.70%. AeroVironment’s revenue for the quarter was down 23.1% on a year-over-year basis. During the same period last year, the firm posted ($0.24) earnings per share. On average, equities research analysts predict that AeroVironment Inc. will post $0.20 earnings per share for the current year.
In related news, Chairman Timothy E. Conver sold 11,700 shares of AeroVironment stock in a transaction on Wednesday, July 20th. The shares were sold at an average price of $27.56, for a total transaction of $322,452.00. Following the sale, the chairman now directly owns 51,803 shares in the company, valued at approximately $1,427,690.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Raymond D. Cook sold 1,121 shares of AeroVironment stock in a transaction on Tuesday, July 12th. The stock was sold at an average price of $27.49, for a total transaction of $30,816.29. Following the sale, the chief financial officer now owns 13,879 shares in the company, valued at $381,533.71. The disclosure for this sale can be found here. Insiders own 12.50% of the company’s stock.
A number of large investors have recently made changes to their positions in AVAV. Royal Bank of Canada raised its stake in shares of AeroVironment by 97.8% in the second quarter. Royal Bank of Canada now owns 3,704 shares of the company’s stock valued at $103,000 after buying an additional 1,831 shares in the last quarter. Mason Street Advisors LLC bought a new stake in shares of AeroVironment during the second quarter valued at approximately $112,000. Raymond James & Associates bought a new stake in shares of AeroVironment during the second quarter valued at approximately $203,000. Commonwealth Equity Services Inc bought a new stake in shares of AeroVironment during the second quarter valued at approximately $206,000. Finally, Princeton Alpha Management LP bought a new stake in shares of AeroVironment during the second quarter valued at approximately $263,000. Hedge funds and other institutional investors own 62.74% of the company’s stock.
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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