The AeroVironment Inc. (AVAV) Now Covered by Analysts at Canaccord Genuity

The AeroVironment Inc. (AVAV) Now Covered by Analysts at Canaccord Genuity

Canaccord Genuity began coverage on shares of AeroVironment Inc. (NASDAQ:AVAV) in a report released on Thursday. The brokerage issued a hold rating on the stock.

A number of other equities research analysts have also recently commented on AVAV. Zacks Investment Research upgraded AeroVironment from a hold rating to a buy rating and set a $31.00 target price on the stock in a research report on Tuesday, July 12th. Jefferies Group restated a hold rating and set a $27.00 target price on shares of AeroVironment in a research report on Friday, August 12th. Piper Jaffray Cos. dropped their target price on AeroVironment from $37.00 to $31.00 and set an overweight rating on the stock in a research report on Wednesday, August 31st. Stifel Nicolaus restated a hold rating on shares of AeroVironment in a research report on Thursday, September 1st. Finally, Raymond James Financial Inc. restated a hold rating on shares of AeroVironment in a research report on Wednesday, August 31st. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. AeroVironment has a consensus rating of Hold and an average target price of $28.80.

Shares of AeroVironment (NASDAQ:AVAV) traded down 0.31% during midday trading on Thursday, reaching $22.46. The company’s stock had a trading volume of 31,827 shares. The stock has a market capitalization of $515.59 million, a PE ratio of 123.41 and a beta of 1.34. The company has a 50 day moving average price of $24.70 and a 200-day moving average price of $27.65. AeroVironment has a 52 week low of $21.10 and a 52 week high of $32.44.

AeroVironment (NASDAQ:AVAV) last posted its earnings results on Tuesday, August 30th. The company reported ($0.51) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.17) by $0.34. AeroVironment had a net margin of 1.70% and a return on equity of 1.22%. The business had revenue of $36.20 million for the quarter, compared to analyst estimates of $37.81 million. During the same quarter last year, the business earned ($0.24) earnings per share. AeroVironment’s revenue was down 23.1% on a year-over-year basis. On average, equities research analysts expect that AeroVironment will post $0.20 EPS for the current year.

In other AeroVironment news, Chairman Timothy E. Conver sold 8,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $28.74, for a total value of $244,290.00. Following the transaction, the chairman now directly owns 51,803 shares of the company’s stock, valued at approximately $1,488,818.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Timothy E. Conver sold 11,700 shares of the firm’s stock in a transaction that occurred on Wednesday, July 20th. The stock was sold at an average price of $27.56, for a total transaction of $322,452.00. Following the completion of the transaction, the chairman now directly owns 51,803 shares in the company, valued at $1,427,690.68. The disclosure for this sale can be found here. 12.50% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AVAV. California Public Employees Retirement System raised its position in AeroVironment by 27.1% in the second quarter. California Public Employees Retirement System now owns 48,800 shares of the company’s stock worth $1,357,000 after buying an additional 10,400 shares during the period. Emerald Acquisition Ltd. acquired a new position in AeroVironment during the second quarter worth $879,000. New Jersey Better Educational Savings Trust acquired a new position in AeroVironment during the second quarter worth $556,000. California State Teachers Retirement System raised its position in AeroVironment by 2.7% in the second quarter. California State Teachers Retirement System now owns 42,930 shares of the company’s stock worth $1,193,000 after buying an additional 1,132 shares during the period. Finally, BNP Paribas Arbitrage SA raised its position in AeroVironment by 44.4% in the second quarter. BNP Paribas Arbitrage SA now owns 10,707 shares of the company’s stock worth $298,000 after buying an additional 3,291 shares during the period. 62.74% of the stock is currently owned by institutional investors and hedge funds.

AeroVironment Company Profile

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