AeroVironment (NASDAQ:AVAV) Receives Outperform Rating from Royal Bank of Canada

AeroVironment (NASDAQ:AVAV)‘s stock had its “outperform” rating reiterated by stock analysts at Royal Bank of Canada in a report released on Monday,Benzinga reports. They currently have a $190.00 price target on the aerospace company’s stock. Royal Bank of Canada’s target price suggests a potential upside of 14.05% from the stock’s previous close.

A number of other equities research analysts have also weighed in on AVAV. William Blair reaffirmed an “outperform” rating on shares of AeroVironment in a research report on Wednesday, March 5th. Jefferies Financial Group decreased their target price on AeroVironment from $230.00 to $190.00 and set a “buy” rating for the company in a research report on Wednesday, March 5th. Robert W. Baird decreased their target price on AeroVironment from $220.00 to $146.00 and set an “outperform” rating for the company in a research report on Wednesday, March 5th. Finally, Raymond James raised AeroVironment from a “market perform” rating to a “strong-buy” rating and set a $200.00 target price for the company in a research report on Tuesday, April 8th. Six research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $197.83.

AeroVironment Price Performance

AVAV opened at $166.60 on Monday. The business has a fifty day moving average of $138.05 and a 200 day moving average of $162.98. AeroVironment has a 52-week low of $102.25 and a 52-week high of $236.60. The company has a quick ratio of 3.36, a current ratio of 4.61 and a debt-to-equity ratio of 0.02. The stock has a market cap of $4.70 billion, a P/E ratio of 95.75 and a beta of 0.80.

Insider Transactions at AeroVironment

In other news, CEO Wahid Nawabi sold 29,366 shares of the business’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $128.20, for a total value of $3,764,721.20. Following the completion of the transaction, the chief executive officer now directly owns 115,174 shares of the company’s stock, valued at approximately $14,765,306.80. The trade was a 20.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.27% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in AVAV. CoreCap Advisors LLC raised its position in shares of AeroVironment by 120.2% in the 4th quarter. CoreCap Advisors LLC now owns 185 shares of the aerospace company’s stock worth $28,000 after acquiring an additional 101 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in AeroVironment by 171.1% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 244 shares of the aerospace company’s stock worth $29,000 after buying an additional 154 shares during the last quarter. Golden State Wealth Management LLC purchased a new position in AeroVironment during the 4th quarter worth $31,000. Colonial Trust Advisors purchased a new position in AeroVironment during the 4th quarter worth $31,000. Finally, Accredited Wealth Management LLC purchased a new position in AeroVironment during the 4th quarter worth $31,000. 86.38% of the stock is owned by institutional investors.

About AeroVironment

AeroVironment, Inc designs, develops, produces, delivers, and supports a portfolio of robotic systems and related services for government agencies and businesses in the United States and internationally. It operates through Small Unmanned Aircraft Systems (SUAS), Tactical Missile System (TMS), Medium Unmanned Aircraft Systems (MUAS), and High Altitude Pseudo-Satellite Systems (HAPS) segments.