AeroVironment, Inc. (NASDAQ:AVAV) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

AVAV has been the topic of several other reports. TheStreet raised shares of AeroVironment from a “c-” rating to a “b” rating in a report on Tuesday, June 27th. Piper Jaffray Companies lowered shares of AeroVironment from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $30.00 to $35.00 in a report on Monday, July 3rd. Jefferies Group LLC reaffirmed a “hold” rating and set a $27.00 price target on shares of AeroVironment in a report on Tuesday, April 18th. ValuEngine raised shares of AeroVironment from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Canaccord Genuity reaffirmed a “hold” rating and set a $35.00 price target on shares of AeroVironment in a report on Thursday, August 10th. Eight investment analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. AeroVironment has an average rating of “Hold” and a consensus price target of $33.00.

Shares of AeroVironment (AVAV) traded up 0.61% during mid-day trading on Wednesday, reaching $38.00. 90,241 shares of the company’s stock traded hands. AeroVironment has a 12 month low of $22.16 and a 12 month high of $40.10. The firm has a 50 day moving average price of $38.19 and a 200-day moving average price of $31.10. The stock has a market cap of $884.15 million, a PE ratio of 70.37 and a beta of 1.31.

AeroVironment (NASDAQ:AVAV) last released its earnings results 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 firm had revenue of $125.40 million for the quarter, compared to analyst estimates of $122.90 million. During the same period last year, the firm earned $0.23 EPS. The business’s quarterly revenue was up 47.9% compared to the same quarter last year. On average, analysts predict that AeroVironment will post $0.54 earnings per share for the current fiscal year.

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In other news, VP Kenneth D. Karklin sold 735 shares of the business’s stock in a transaction that occurred on Friday, July 14th. The shares were sold at an average price of $39.57, for a total value of $29,083.95. Following the transaction, the vice president now owns 9,437 shares in the company, valued at approximately $373,422.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Timothy E. Conver sold 7,600 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $38.49, for a total transaction of $292,524.00. Following the completion of the transaction, the chairman now owns 58,138 shares in the company, valued at approximately $2,237,731.62. The disclosure for this sale can be found here. Insiders have sold a total of 91,897 shares of company stock worth $3,344,357 over the last three months. Insiders own 12.50% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Sei Investments Co. increased its position in shares of AeroVironment by 1.8% in the second quarter. Sei Investments Co. now owns 3,450 shares of the aerospace company’s stock worth $132,000 after buying an additional 61 shares during the period. State of Alaska Department of Revenue increased its position in shares of AeroVironment by 78.6% in the second quarter. State of Alaska Department of Revenue now owns 4,073 shares of the aerospace company’s stock worth $155,000 after buying an additional 1,793 shares during the period. Mason Street Advisors LLC increased its position in shares of AeroVironment by 7.0% in the first quarter. Mason Street Advisors LLC now owns 4,813 shares of the aerospace company’s stock worth $135,000 after buying an additional 316 shares during the period. Municipal Employees Retirement System of Michigan increased its position in shares of AeroVironment by 3.2% in the second quarter. Municipal Employees Retirement System of Michigan now owns 4,850 shares of the aerospace company’s stock worth $185,000 after buying an additional 150 shares during the period. Finally, PNC Financial Services Group Inc. increased its position in shares of AeroVironment by 0.8% in the first quarter. PNC Financial Services Group Inc. now owns 4,860 shares of the aerospace company’s stock worth $136,000 after buying an additional 38 shares during the period. Hedge funds and other institutional investors own 82.45% of the company’s stock.

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.

Analyst Recommendations for AeroVironment (NASDAQ:AVAV)

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