AeroVironment (AVAV) Stock Rating Lowered by Zacks Investment Research

AeroVironment (NASDAQ:AVAV) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.

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. “

A number of other research firms also recently weighed in on AVAV. BidaskClub downgraded shares of AeroVironment from a “sell” rating to a “strong sell” rating in a research report on Wednesday, December 27th. Canaccord Genuity reiterated a “hold” rating and issued a $50.00 price target on shares of AeroVironment in a research report on Thursday, December 14th. TheStreet upgraded shares of AeroVironment from a “c+” rating to a “b” rating in a research report on Friday, December 8th. Robert W. Baird reiterated a “hold” rating and issued a $35.00 price target on shares of AeroVironment in a research report on Tuesday, October 24th. Finally, ValuEngine downgraded shares of AeroVironment from a “buy” rating to a “hold” rating in a research report on Wednesday, November 15th. Two research analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $44.40.

AeroVironment (NASDAQ AVAV) traded up $0.53 during midday trading on Tuesday, hitting $47.96. 335,559 shares of the stock were exchanged, compared to its average volume of 304,810. AeroVironment has a 52 week low of $25.66 and a 52 week high of $58.99. The firm has a market capitalization of $1,188.26, a P/E ratio of 36.61, a price-to-earnings-growth ratio of 4.72 and a beta of 1.06.

AeroVironment (NASDAQ:AVAV) last released its quarterly earnings results on Tuesday, December 5th. The aerospace company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.30. AeroVironment had a net margin of 10.42% and a return on equity of 8.23%. The company had revenue of $73.83 million during the quarter, compared to the consensus estimate of $63.53 million. During the same period in the previous year, the business earned ($0.18) earnings per share. The firm’s quarterly revenue was up 47.3% on a year-over-year basis. research analysts predict that AeroVironment will post 0.7 EPS for the current year.

In other AeroVironment news, Chairman Timothy E. Conver sold 3,800 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $44.14, for a total transaction of $167,732.00. Following the completion of the transaction, the chairman now directly owns 58,138 shares in the company, valued at $2,566,211.32. The sale was disclosed in a document filed with the SEC, 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, November 22nd. The shares were sold at an average price of $44.85, for a total transaction of $340,860.00. Following the transaction, the chairman now owns 58,138 shares of the company’s stock, valued at $2,607,489.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 45,600 shares of company stock valued at $2,388,832. Company insiders own 11.00% of the company’s stock.

Several large investors have recently made changes to their positions in AVAV. Janus Henderson Group PLC acquired a new position in shares of AeroVironment during the second quarter worth $39,724,000. American Capital Management Inc. increased its holdings in shares of AeroVironment by 9.7% during the fourth quarter. American Capital Management Inc. now owns 1,441,771 shares of the aerospace company’s stock worth $80,970,000 after buying an additional 127,619 shares in the last quarter. Robeco Institutional Asset Management B.V. acquired a new position in shares of AeroVironment during the fourth quarter worth $7,137,000. BlackRock Inc. increased its holdings in shares of AeroVironment by 3.6% during the second quarter. BlackRock Inc. now owns 3,333,627 shares of the aerospace company’s stock worth $127,344,000 after buying an additional 116,654 shares in the last quarter. Finally, Vident Investment Advisory LLC increased its holdings in shares of AeroVironment by 31.1% during the third quarter. Vident Investment Advisory LLC now owns 474,428 shares of the aerospace company’s stock worth $25,676,000 after buying an additional 112,487 shares in the last quarter. Institutional investors own 75.04% of the company’s stock.

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About AeroVironment

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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