AeroVironment (AVAV) Raised to Buy at Zacks Investment Research

AeroVironment (NASDAQ:AVAV) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a research note issued on Thursday. The firm presently has a $54.00 price target on the aerospace company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 12.55% from the company’s current price.

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. “

Other analysts also recently issued research reports about the company. BidaskClub downgraded AeroVironment from a “sell” rating to a “strong sell” rating in a research report on Wednesday, December 27th. Robert W. Baird reaffirmed a “hold” rating and issued a $35.00 target price on shares of AeroVironment in a research report on Tuesday, October 24th. TheStreet raised AeroVironment from a “c+” rating to a “b” rating in a research report on Friday, December 8th. ValuEngine downgraded AeroVironment from a “buy” rating to a “hold” rating in a research report on Wednesday, November 15th. Finally, Canaccord Genuity reissued a “hold” rating and set a $50.00 price target on shares of AeroVironment in a research report on Thursday, December 14th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. AeroVironment currently has an average rating of “Hold” and an average price target of $42.40.

AeroVironment (NASDAQ:AVAV) traded up $1.97 during trading hours on Thursday, hitting $47.98. The company had a trading volume of 327,911 shares, compared to its average volume of 295,755. The firm has a market capitalization of $1,150.00, a P/E ratio of 37.78, a P/E/G ratio of 4.55 and a beta of 1.06. AeroVironment has a twelve month low of $25.66 and a twelve month high of $58.99.

AeroVironment (NASDAQ:AVAV) last released its earnings results on Tuesday, December 5th. The aerospace company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.30. The business had revenue of $73.83 million for the quarter, compared to the consensus estimate of $63.53 million. AeroVironment had a return on equity of 8.23% and a net margin of 10.42%. AeroVironment’s quarterly revenue was up 47.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.18) earnings per share. equities analysts anticipate that AeroVironment will post 0.7 EPS for the current fiscal 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, December 27th. The stock was sold at an average price of $56.90, for a total transaction of $216,220.00. Following the transaction, the chairman now owns 58,138 shares of the company’s stock, valued at $3,308,052.20. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman Timothy E. Conver sold 7,600 shares of the business’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $44.85, for a total value of $340,860.00. Following the transaction, the chairman now directly owns 58,138 shares in the company, valued at approximately $2,607,489.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,800 shares of company stock worth $2,221,100. Company insiders own 11.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in AVAV. LS Investment Advisors LLC increased its position in AeroVironment by 179.6% during the fourth quarter. LS Investment Advisors LLC now owns 2,069 shares of the aerospace company’s stock worth $116,000 after buying an additional 1,329 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of AeroVironment by 1.2% during the second quarter. PNC Financial Services Group Inc. now owns 4,916 shares of the aerospace company’s stock worth $187,000 after acquiring an additional 56 shares during the period. Crossmark Global Holdings Inc. bought a new stake in shares of AeroVironment during the fourth quarter worth approximately $238,000. Piedmont Investment Advisors LLC bought a new stake in shares of AeroVironment during the third quarter worth approximately $250,000. Finally, First Manhattan Co. bought a new stake in shares of AeroVironment during the third quarter worth approximately $270,000. 75.04% of the stock is currently owned by hedge funds and other institutional investors.

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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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