AeroVironment (AVAV) Expected to Post Quarterly Sales of $113.05 Million

Wall Street analysts predict that AeroVironment (NASDAQ:AVAV) will post sales of $113.05 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for AeroVironment’s earnings, with the highest sales estimate coming in at $117.95 million and the lowest estimate coming in at $109.20 million. AeroVironment posted sales of $125.38 million in the same quarter last year, which indicates a negative year over year growth rate of 9.8%. The firm is expected to report its next quarterly earnings report on Tuesday, June 26th.

According to Zacks, analysts expect that AeroVironment will report full-year sales of $294.67 million for the current financial year, with estimates ranging from $290.70 million to $299.48 million. For the next financial year, analysts expect that the company will report sales of $339.26 million per share, with estimates ranging from $324.27 million to $369.00 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow AeroVironment.

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AeroVironment (NASDAQ:AVAV) last issued its quarterly earnings data on Tuesday, March 6th. The aerospace company reported $0.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.02. The firm had revenue of $63.90 million during the quarter, compared to analyst estimates of $58.18 million. AeroVironment had a return on equity of 9.15% and a net margin of 10.50%. The business’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same quarter last year, the business posted ($0.09) earnings per share.

A number of brokerages have recently weighed in on AVAV. Zacks Investment Research upgraded AeroVironment from a “sell” rating to a “buy” rating and set a $54.00 price objective for the company in a research report on Thursday, February 8th. ValuEngine upgraded AeroVironment from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. BidaskClub upgraded AeroVironment from a “strong sell” rating to a “sell” rating in a research report on Tuesday, March 13th. Finally, Stifel Nicolaus upgraded AeroVironment from a “hold” rating to a “buy” rating and raised their price objective for the company from $45.00 to $65.00 in a research report on Wednesday, April 11th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. AeroVironment has a consensus rating of “Hold” and a consensus price target of $46.17.

In related news, Chairman Timothy E. Conver sold 7,600 shares of the stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $53.41, for a total value of $405,916.00. Following the completion of the transaction, the chairman now owns 58,138 shares of the company’s stock, valued at approximately $3,105,150.58. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Timothy E. Conver sold 3,800 shares of the stock in a transaction dated Wednesday, March 14th. The shares were sold at an average price of $47.72, for a total transaction of $181,336.00. Following the completion of the transaction, the chairman now directly owns 58,138 shares of the company’s stock, valued at approximately $2,774,345.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,200 shares of company stock valued at $1,677,928. 11.00% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in AVAV. Tyers Asset Management LLC lifted its holdings in shares of AeroVironment by 106.8% in the 4th quarter. Tyers Asset Management LLC now owns 1,952 shares of the aerospace company’s stock valued at $110,000 after acquiring an additional 1,008 shares during the last quarter. LS Investment Advisors LLC lifted its holdings in shares of AeroVironment by 179.6% in the 4th quarter. LS Investment Advisors LLC now owns 2,069 shares of the aerospace company’s stock valued at $116,000 after acquiring an additional 1,329 shares during the last quarter. Meadow Creek Investment Management LLC lifted its holdings in shares of AeroVironment by 106.8% in the 4th quarter. Meadow Creek Investment Management LLC now owns 3,416 shares of the aerospace company’s stock valued at $192,000 after acquiring an additional 1,764 shares during the last quarter. Jane Street Group LLC lifted its holdings in shares of AeroVironment by 124.8% in the 4th quarter. Jane Street Group LLC now owns 3,657 shares of the aerospace company’s stock valued at $205,000 after acquiring an additional 2,030 shares during the last quarter. Finally, Crossmark Global Holdings Inc. bought a new position in shares of AeroVironment in the 4th quarter valued at about $238,000. 74.80% of the stock is owned by hedge funds and other institutional investors.

Shares of AeroVironment stock opened at $56.69 on Friday. The stock has a market cap of $1,355.71, a PE ratio of 104.98, a PEG ratio of 4.05 and a beta of 1.24. AeroVironment has a twelve month low of $28.13 and a twelve month high of $58.99.

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About AeroVironment

AeroVironment, Inc designs, develops, produces, supports, and operates unmanned aircraft systems (UAS) and efficient energy systems (EES) in the United States and internationally. The company offers small UAS products to deliver intelligence, surveillance, and reconnaissance; and communications, such as real-time tactical reconnaissance, tracking, combat assessment, and geographic data to the small tactical unit or individual operator.

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