AeroVironment (NASDAQ:AVAV) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report released on Friday. The firm currently has a $115.00 target price on the aerospace company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 14.51% from the stock’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. “
A number of other equities analysts have also recently commented on AVAV. Stifel Nicolaus cut AeroVironment from a “buy” rating to a “hold” rating and boosted their price target for the stock from $65.00 to $70.00 in a report on Thursday, June 28th. Piper Jaffray Companies reissued a “neutral” rating and set a $77.00 price target on shares of AeroVironment in a report on Thursday. BidaskClub raised AeroVironment from a “hold” rating to a “buy” rating in a report on Tuesday, July 3rd. Drexel Hamilton reissued a “hold” rating on shares of AeroVironment in a report on Wednesday, June 27th. Finally, Robert W. Baird boosted their price target on AeroVironment from $50.00 to $52.00 and gave the stock a “neutral” rating in a report on Wednesday, June 6th. Five equities research analysts have rated the stock with a hold rating and three have issued a strong buy rating to the company. AeroVironment currently has an average rating of “Buy” and a consensus price target of $83.20.
Shares of AeroVironment stock traded up $0.46 during trading on Friday, reaching $100.43. 496,531 shares of the company’s stock were exchanged, compared to its average volume of 345,873. AeroVironment has a 1-year low of $41.53 and a 1-year high of $103.98. The stock has a market capitalization of $2.09 billion, a P/E ratio of 92.99, a price-to-earnings-growth ratio of 4.51 and a beta of 1.20.
AeroVironment (NASDAQ:AVAV) last posted its quarterly earnings results on Wednesday, September 5th. The aerospace company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.79. AeroVironment had a return on equity of 10.98% and a net margin of 15.56%. The company had revenue of $78.04 million during the quarter, compared to analysts’ expectations of $73.65 million. During the same quarter in the previous year, the firm earned ($0.19) EPS. AeroVironment’s revenue was up 127.1% on a year-over-year basis. research analysts anticipate that AeroVironment will post 0.97 earnings per share for the current year.
In related news, VP Kirk J. Flittie sold 3,659 shares of the business’s stock in a transaction on Thursday, July 12th. The stock was sold at an average price of $72.76, for a total transaction of $266,228.84. Following the sale, the vice president now owns 9,083 shares in the company, valued at approximately $660,879.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 11.70% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Sei Investments Co. bought a new stake in AeroVironment during the 1st quarter worth $100,000. Point72 Hong Kong Ltd bought a new stake in AeroVironment during the 2nd quarter worth $111,000. Tower Research Capital LLC TRC bought a new stake in AeroVironment during the 2nd quarter worth $158,000. SG Americas Securities LLC grew its position in AeroVironment by 72.4% during 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 last quarter. Finally, PNC Financial Services Group Inc. grew its position in AeroVironment by 113.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 2,527 shares of the aerospace company’s stock worth $181,000 after acquiring an additional 1,342 shares during the last quarter. Institutional investors and hedge funds own 82.21% of the company’s stock.
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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