AeroVironment, Inc. (AVAV) Chairman Sells $144,932.00 in Stock
AeroVironment, Inc. (NASDAQ:AVAV) Chairman Timothy E. Conver sold 3,800 shares of AeroVironment stock in a transaction on Wednesday, July 19th. The shares were sold at an average price of $38.14, for a total value of $144,932.00. Following the sale, the chairman now directly owns 58,138 shares of the company’s stock, valued at approximately $2,217,383.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
AeroVironment, Inc. (NASDAQ:AVAV) traded up 0.50% during midday trading on Friday, reaching $38.30. The company’s stock had a trading volume of 317,467 shares. AeroVironment, Inc. has a one year low of $22.16 and a one year high of $40.10. The firm has a market cap of $891.13 million, a P/E ratio of 70.93 and a beta of 1.31. The firm has a 50 day moving average price of $34.58 and a 200 day moving average price of $29.48.
AeroVironment (NASDAQ:AVAV) last released its quarterly earnings data on Tuesday, June 27th. The aerospace company reported $1.30 EPS for the quarter, beating the consensus estimate of $0.99 by $0.31. AeroVironment had a net margin of 4.71% and a return on equity of 3.49%. The business had revenue of $125.40 million during the quarter, compared to the consensus estimate of $122.90 million. During the same quarter in the prior year, the firm earned $0.23 EPS. The business’s revenue was up 47.9% on a year-over-year basis. Equities research analysts forecast that AeroVironment, Inc. will post $0.54 EPS for the current fiscal year.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in AVAV. Essex Investment Management Co. LLC bought a new position in AeroVironment during the first quarter valued at approximately $1,309,000. Granite Investment Partners LLC increased its position in AeroVironment by 11.4% in the first quarter. Granite Investment Partners LLC now owns 332,807 shares of the aerospace company’s stock valued at $9,329,000 after buying an additional 34,127 shares during the period. American Capital Management Inc. increased its position in AeroVironment by 11.3% in the first quarter. American Capital Management Inc. now owns 1,179,552 shares of the aerospace company’s stock valued at $33,063,000 after buying an additional 120,140 shares during the period. Louisiana State Employees Retirement System increased its position in AeroVironment by 1.2% in the first quarter. Louisiana State Employees Retirement System now owns 8,400 shares of the aerospace company’s stock valued at $235,000 after buying an additional 100 shares during the period. Finally, Berson & Corrado Investment Advisors LLC bought a new position in AeroVironment during the first quarter valued at approximately $230,000. 81.70% of the stock is owned by institutional investors and hedge funds.
Several research firms recently issued reports on AVAV. TheStreet raised AeroVironment from a “c-” rating to a “b” rating in a research note on Tuesday, June 27th. Piper Jaffray Companies lowered AeroVironment from an “overweight” rating to a “neutral” rating and lifted their price objective for the company from $30.00 to $35.00 in a research note on Monday, July 3rd. Zacks Investment Research raised AeroVironment from a “hold” rating to a “strong-buy” rating and set a $42.00 price objective for the company in a research note on Friday, June 30th. Jefferies Group LLC lifted their price objective on AeroVironment from $27.00 to $29.00 and gave the company a “hold” rating in a research note on Wednesday, June 28th. Finally, ValuEngine upgraded AeroVironment from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Seven analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. AeroVironment has a consensus rating of “Hold” and a consensus price target of $31.80.
AeroVironment Company Profile
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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