AeroVironment, Inc. (NASDAQ:AVAV) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report released on Wednesday.

According to Zacks, “AeroVironment, Inc. designs, develops, produces, operates a portfolio of products and services for government agencies, businesses and consumers. It operates through two segments: Unmanned Aircraft Systems, 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, which focuses primarily on the design, development, production, support and operation of electric energy systems. The Company supplies UAS, tactical missile systems and related services primarily to organizations within the United States Department of Defense. The Company also supplies charging systems and services for electric vehicles, and power cycling and test systems to commercial, consumer and government customers. It serves the U.S. Department of Defense, including the U.S. Army, Marine Corps, Special Operations Command, Air Force, and Navy. “

AVAV has been the topic of several other reports. Robert W. Baird reissued a “hold” rating and set a $35.00 target price on shares of AeroVironment in a research report on Monday, August 28th. Canaccord Genuity increased their target price on shares of AeroVironment from $35.00 to $40.00 and gave the stock a “hold” rating in a research report on Wednesday, August 30th. Piper Jaffray Companies reissued a “neutral” rating and set a $36.00 target price on shares of AeroVironment in a research report on Thursday, August 31st. Jefferies Group LLC increased their target price on shares of AeroVironment from $29.00 to $37.00 and gave the stock a “hold” rating in a research report on Wednesday, August 30th. Finally, BidaskClub downgraded shares of AeroVironment from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Seven investment analysts have rated the stock with a hold rating, The company presently has a consensus rating of “Hold” and a consensus price target of $39.00.

AeroVironment (NASDAQ:AVAV) last posted its earnings results on Tuesday, August 29th. The aerospace company reported ($0.19) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.34) by $0.15. The firm had revenue of $43.80 million for the quarter, compared to the consensus estimate of $42.44 million. AeroVironment had a net margin of 7.22% and a return on equity of 5.40%. The business’s quarterly revenue was up 21.0% on a year-over-year basis. During the same period in the prior year, the business posted ($0.51) earnings per share.

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In related news, Chairman Timothy E. Conver sold 2,000 shares of the stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $53.91, for a total value of $107,820.00. Following the completion of the sale, the chairman now owns 58,138 shares in the company, valued at $3,134,219.58. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Timothy E. Conver sold 7,600 shares of the stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $39.04, for a total transaction of $296,704.00. Following the completion of the sale, the chairman now owns 58,138 shares of the company’s stock, valued at approximately $2,269,707.52. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,600 shares of company stock worth $2,260,596. 11.00% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. lifted its stake 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 valued at $136,000 after buying an additional 38 shares during the period. Sei Investments Co. lifted its stake 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 valued at $132,000 after buying an additional 61 shares during the period. Arizona State Retirement System lifted its stake in shares of AeroVironment by 0.9% in the first quarter. Arizona State Retirement System now owns 10,698 shares of the aerospace company’s stock valued at $300,000 after buying an additional 100 shares during the period. Municipal Employees Retirement System of Michigan lifted its stake 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 valued at $185,000 after buying an additional 150 shares during the period. Finally, Prudential Financial Inc. lifted its stake in shares of AeroVironment by 0.4% in the first quarter. Prudential Financial Inc. now owns 35,350 shares of the aerospace company’s stock valued at $991,000 after buying an additional 154 shares during the period. Institutional investors and hedge funds own 77.68% 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.

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