AeroVironment (NASDAQ:AVAV) Stock Rating Upgraded by Raymond James

AeroVironment (NASDAQ:AVAVGet Rating) was upgraded by equities researchers at Raymond James from a “market perform” rating to an “outperform” rating in a report issued on Thursday, Marketbeat Ratings reports. The brokerage presently has a $100.00 target price on the aerospace company’s stock. Raymond James’ target price would suggest a potential upside of 7.61% from the stock’s current price.

Several other brokerages have also weighed in on AVAV. Royal Bank of Canada increased their price objective on shares of AeroVironment from $100.00 to $115.00 in a report on Monday, August 22nd. StockNews.com initiated coverage on shares of AeroVironment in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, AeroVironment currently has a consensus rating of “Moderate Buy” and a consensus target price of $90.38.

AeroVironment Stock Up 0.5 %

AVAV stock opened at $92.93 on Thursday. The firm has a market cap of $2.32 billion, a PE ratio of 1,845.57 and a beta of 0.54. The company has a current ratio of 3.73, a quick ratio of 2.70 and a debt-to-equity ratio of 0.29. AeroVironment has a 1 year low of $52.03 and a 1 year high of $114.11. The company has a fifty day simple moving average of $86.13 and a 200 day simple moving average of $86.56.

AeroVironment (NASDAQ:AVAVGet Rating) last posted its earnings results on Wednesday, September 7th. The aerospace company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.19). The business had revenue of $108.52 million during the quarter, compared to the consensus estimate of $103.41 million. AeroVironment had a net margin of 0.31% and a return on equity of 5.39%. The business’s revenue was up 7.4% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.17) EPS. Sell-side analysts anticipate that AeroVironment will post 1.56 EPS for the current fiscal year.

Insider Activity at AeroVironment

In other AeroVironment news, CAO Brian Charles Shackley sold 500 shares of the business’s stock in a transaction on Monday, September 12th. The shares were sold at an average price of $100.39, for a total transaction of $50,195.00. Following the completion of the sale, the chief accounting officer now owns 3,382 shares in the company, valued at approximately $339,518.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO Brian Charles Shackley sold 500 shares of the company’s stock in a transaction on Monday, September 12th. The shares were sold at an average price of $100.39, for a total value of $50,195.00. Following the completion of the sale, the chief accounting officer now owns 3,382 shares in the company, valued at approximately $339,518.98. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Charles Thomas Burbage sold 7,324 shares of the stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $94.68, for a total transaction of $693,436.32. Following the transaction, the director now owns 47,602 shares of the company’s stock, valued at approximately $4,506,957.36. The disclosure for this sale can be found here. 1.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AeroVironment

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. ProShare Advisors LLC raised its stake in AeroVironment by 3.8% in the third quarter. ProShare Advisors LLC now owns 3,400 shares of the aerospace company’s stock valued at $283,000 after purchasing an additional 124 shares in the last quarter. Victory Capital Management Inc. lifted its stake in AeroVironment by 2.9% in the second quarter. Victory Capital Management Inc. now owns 5,268 shares of the aerospace company’s stock worth $433,000 after acquiring an additional 147 shares during the period. Mutual of America Capital Management LLC lifted its stake in AeroVironment by 5.5% in the first quarter. Mutual of America Capital Management LLC now owns 3,325 shares of the aerospace company’s stock worth $313,000 after acquiring an additional 173 shares during the period. Maryland State Retirement & Pension System lifted its position in AeroVironment by 2.0% during the second quarter. Maryland State Retirement & Pension System now owns 9,438 shares of the aerospace company’s stock valued at $776,000 after buying an additional 184 shares during the period. Finally, New York State Teachers Retirement System lifted its position in AeroVironment by 1.1% during the second quarter. New York State Teachers Retirement System now owns 17,667 shares of the aerospace company’s stock valued at $1,452,000 after buying an additional 200 shares during the period. 88.40% of the stock is owned by hedge funds and other institutional investors.

About AeroVironment

(Get Rating)

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 four segments: Unmanned Aircraft Systems (UAS), Tactical Missile System (TMS), Medium Unmanned Aircraft Systems (MUAS), and High Altitude Pseudo-Satellite Systems (HAPS).

Further Reading

Analyst Recommendations for AeroVironment (NASDAQ:AVAV)

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