AeroVironment, Inc. (AVAV) Given Consensus Recommendation of “Hold” by Brokerages

AeroVironment, Inc. (NASDAQ:AVAV) has been assigned an average recommendation of “Hold” from the eight analysts that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $42.40.

A number of analysts have issued reports on the company. BidaskClub lowered AeroVironment from a “sell” rating to a “strong sell” rating in a research note on Wednesday, December 27th. Zacks Investment Research raised AeroVironment from a “hold” rating to a “strong-buy” rating and set a $64.00 price target on the stock in a research note on Friday, December 8th. Canaccord Genuity reissued a “hold” rating and issued a $50.00 price target on shares of AeroVironment in a research note on Thursday, December 14th. TheStreet raised AeroVironment from a “c+” rating to a “b” rating in a research note on Friday, December 8th. Finally, Robert W. Baird reissued a “hold” rating and issued a $35.00 price target on shares of AeroVironment in a research note on Tuesday, October 24th.

Shares of AeroVironment (AVAV) opened at $49.25 on Tuesday. AeroVironment has a 52 week low of $25.66 and a 52 week high of $58.99. The stock has a market capitalization of $1,145.29, a PE ratio of 37.60, a price-to-earnings-growth ratio of 4.55 and a beta of 1.06.

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

In other news, Chairman Timothy E. Conver sold 7,600 shares of AeroVironment stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $55.27, for a total value of $420,052.00. Following the transaction, the chairman now directly owns 58,138 shares of the company’s stock, valued at approximately $3,213,287.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Timothy E. Conver sold 3,800 shares of AeroVironment stock in a transaction dated Wednesday, December 27th. The shares were sold at an average price of $56.90, for a total value of $216,220.00. Following the completion of the transaction, the chairman now directly owns 58,138 shares in the company, valued at $3,308,052.20. The disclosure for this sale can be found here. Insiders sold a total of 49,400 shares of company stock worth $2,578,300 over the last ninety days. Corporate insiders own 11.00% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. lifted its stake in shares of AeroVironment by 1.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 4,916 shares of the aerospace company’s stock valued at $187,000 after purchasing an additional 56 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in shares of AeroVironment by 0.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 108,125 shares of the aerospace company’s stock valued at $4,131,000 after purchasing an additional 560 shares in the last quarter. TIAA CREF Investment Management LLC lifted its stake in shares of AeroVironment by 1.1% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 55,068 shares of the aerospace company’s stock valued at $2,104,000 after purchasing an additional 624 shares in the last quarter. Thrivent Financial For Lutherans lifted its stake in shares of AeroVironment by 6.4% in the 2nd quarter. Thrivent Financial For Lutherans now owns 12,670 shares of the aerospace company’s stock valued at $484,000 after purchasing an additional 760 shares in the last quarter. Finally, Voya Investment Management LLC lifted its stake in shares of AeroVironment by 11.4% in the 2nd quarter. Voya Investment Management LLC now owns 10,875 shares of the aerospace company’s stock valued at $415,000 after purchasing an additional 1,115 shares in the last quarter. 74.20% of the stock is currently owned by institutional investors and hedge funds.

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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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