AeroVironment (NASDAQ:AVAV) Stock Rating Upgraded by BidaskClub

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AeroVironment (NASDAQ:AVAV) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued on Thursday, BidAskClub reports.

Other equities research analysts have also issued research reports about the stock. William Blair restated a “buy” rating on shares of AeroVironment in a report on Wednesday, August 21st. Zacks Investment Research downgraded shares of AeroVironment from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Robert W. Baird raised shares of AeroVironment from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $65.00 to $81.00 in a research note on Monday, December 2nd. Piper Jaffray Companies reiterated a “buy” rating and set a $76.00 price objective on shares of AeroVironment in a research report on Wednesday, November 20th. Finally, Canaccord Genuity set a $80.00 target price on shares of AeroVironment and gave the company a “buy” rating in a research note on Thursday, September 26th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $74.92.

NASDAQ:AVAV opened at $62.50 on Thursday. The company has a quick ratio of 9.26, a current ratio of 10.56 and a debt-to-equity ratio of 0.02. AeroVironment has a 1-year low of $48.61 and a 1-year high of $95.38. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of 42.23 and a beta of 1.18. The stock has a fifty day simple moving average of $60.23 and a 200 day simple moving average of $58.08.

AeroVironment (NASDAQ:AVAV) last posted its quarterly earnings data on Tuesday, December 3rd. The aerospace company reported $0.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.05. AeroVironment had a return on equity of 8.55% and a net margin of 11.52%. The firm had revenue of $83.30 million for the quarter, compared to the consensus estimate of $80.53 million. During the same quarter in the previous year, the company earned $0.29 EPS. The business’s revenue for the quarter was up 14.1% compared to the same quarter last year. Equities analysts predict that AeroVironment will post 1.65 earnings per share for the current year.

In other AeroVironment news, Chairman Timothy E. Conver sold 6,896 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $52.17, for a total transaction of $359,764.32. Following the completion of the sale, the chairman now directly owns 56,660 shares in the company, valued at approximately $2,955,952.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 41,376 shares of company stock valued at $2,437,115 over the last 90 days. Corporate insiders own 10.50% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of AVAV. Vanguard Group Inc. lifted its position in shares of AeroVironment by 5.1% in the second quarter. Vanguard Group Inc. now owns 3,222,367 shares of the aerospace company’s stock worth $182,934,000 after purchasing an additional 156,031 shares in the last quarter. Stephens Investment Management Group LLC increased its stake in AeroVironment by 123.2% in the 2nd quarter. Stephens Investment Management Group LLC now owns 274,184 shares of the aerospace company’s stock valued at $15,565,000 after buying an additional 151,347 shares during the period. Renaissance Technologies LLC lifted its position in AeroVironment by 85.6% in the 2nd quarter. Renaissance Technologies LLC now owns 296,336 shares of the aerospace company’s stock worth $16,823,000 after buying an additional 136,700 shares in the last quarter. Nuveen Asset Management LLC purchased a new stake in AeroVironment in the 2nd quarter worth approximately $5,013,000. Finally, Nikko Asset Management Americas Inc. lifted its position in AeroVironment by 18.9% in the 3rd quarter. Nikko Asset Management Americas Inc. now owns 542,167 shares of the aerospace company’s stock worth $29,038,000 after buying an additional 86,287 shares in the last quarter. Institutional investors own 85.84% 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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Analyst Recommendations for AeroVironment (NASDAQ:AVAV)

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