AeroVironment (NASDAQ:AVAV) had its target price hoisted by Canaccord Genuity from $60.00 to $80.00 in a research note issued to investors on Thursday. The brokerage currently has a “hold” rating on the aerospace company’s stock. Canaccord Genuity’s price target would suggest a potential downside of 19.98% from the stock’s previous close.
Other research analysts also recently issued reports about the stock. Piper Jaffray Companies reiterated a “neutral” rating and set a $77.00 price objective on shares of AeroVironment in a research note on Thursday. BidaskClub upgraded shares of AeroVironment from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 11th. Drexel Hamilton reiterated a “hold” rating on shares of AeroVironment in a research note on Wednesday, June 27th. Stifel Nicolaus downgraded shares of AeroVironment from a “buy” rating to a “hold” rating and increased their price objective for the company from $65.00 to $70.00 in a research note on Thursday, June 28th. Finally, Robert W. Baird increased their price objective on shares of AeroVironment from $52.00 to $74.00 and gave the company a “neutral” rating in a research note on Tuesday, August 28th. Six research analysts have rated the stock with a hold rating and two have assigned a strong buy rating to the stock. AeroVironment presently has an average rating of “Buy” and an average target price of $75.60.
NASDAQ AVAV traded up $12.47 during trading hours on Thursday, reaching $99.97. 1,531,673 shares of the company traded hands, compared to its average volume of 344,991. AeroVironment has a 12 month low of $41.53 and a 12 month high of $103.53. The company has a market capitalization of $2.10 billion, a price-to-earnings ratio of 92.56, a price-to-earnings-growth ratio of 4.53 and a beta of 1.20.
AeroVironment (NASDAQ:AVAV) last posted its quarterly earnings data on Wednesday, September 5th. The aerospace company reported $0.85 EPS for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.79. AeroVironment had a net margin of 6.71% and a return on equity of 6.37%. The firm had revenue of $78.04 million for the quarter, compared to the consensus estimate of $73.65 million. During the same period in the prior year, the firm posted ($0.19) EPS. The firm’s revenue was up 127.1% compared to the same quarter last year. research analysts predict that AeroVironment will post 0.97 EPS for the current fiscal year.
In other AeroVironment news, VP Kirk J. Flittie sold 3,659 shares of the stock in a transaction on Thursday, July 12th. The shares were sold at an average price of $72.76, for a total transaction of $266,228.84. Following the sale, the vice president now directly owns 9,083 shares of the company’s stock, valued at $660,879.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 11.70% of the stock is currently owned by corporate insiders.
Several large investors have recently modified their holdings of AVAV. Alps Advisors Inc. acquired a new stake in shares of AeroVironment during the first quarter worth $581,000. SG Americas Securities LLC increased its holdings in shares of AeroVironment by 72.4% in the 1st quarter. SG Americas Securities LLC now owns 3,717 shares of the aerospace company’s stock worth $169,000 after acquiring an additional 1,561 shares during the period. Swiss National Bank increased its holdings in shares of AeroVironment by 3.6% in the 1st quarter. Swiss National Bank now owns 37,400 shares of the aerospace company’s stock worth $1,702,000 after acquiring an additional 1,300 shares during the period. Stephens Investment Management Group LLC increased its holdings in shares of AeroVironment by 46.2% in the 1st quarter. Stephens Investment Management Group LLC now owns 341,483 shares of the aerospace company’s stock worth $15,541,000 after acquiring an additional 107,982 shares during the period. Finally, State of Wisconsin Investment Board acquired a new stake in shares of AeroVironment in the 1st quarter worth about $1,047,000. 82.21% of the stock is currently owned by institutional investors.
AeroVironment Company Profile
AeroVironment, Inc designs, develops, produces, supports, and operates a portfolio of products and services for government agencies and businesses. The company offers unmanned aircraft systems (UAS) and related services primarily to organizations within the U.S. Department of Defense and to international allied governments; and tactical missile systems and related services to organizations within the U.S.
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