Brokerages Set AeroVironment Inc. (AVAV) Target Price at the $27.25

Brokerages Set AeroVironment Inc. (AVAV) Target Price at the $27.25

Shares of AeroVironment Inc. (NASDAQ:AVAV) have earned an average recommendation of “Hold” from the eight analysts that are covering the company. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $27.25.

AVAV has been the subject of a number of research analyst reports. Zacks Investment Research downgraded shares of AeroVironment from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 31st. Piper Jaffray Cos. lowered their price objective on shares of AeroVironment from $37.00 to $31.00 and set an “overweight” rating for the company in a research report on Wednesday, August 31st. Canaccord Genuity set a $28.00 price objective on shares of AeroVironment and gave the company a “hold” rating in a research report on Thursday, August 11th. Robert W. Baird began coverage on shares of AeroVironment in a research report on Wednesday, October 5th. They issued a “neutral” rating and a $24.00 price objective for the company. Finally, Raymond James Financial Inc. reaffirmed a “hold” rating on shares of AeroVironment in a research report on Wednesday, August 31st.

In other news, Chairman Timothy E. Conver sold 4,250 shares of the firm’s stock in a transaction that occurred on Tuesday, August 30th. The shares were sold at an average price of $29.81, for a total transaction of $126,692.50. Following the completion of the sale, the chairman now owns 51,803 shares of the company’s stock, valued at $1,544,247.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Timothy E. Conver sold 8,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $28.74, for a total transaction of $244,290.00. Following the sale, the chairman now directly owns 51,803 shares of the company’s stock, valued at approximately $1,488,818.22. The disclosure for this sale can be found here. Insiders own 12.50% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in AVAV. Aperio Group LLC increased its stake in AeroVironment by 6.3% in the first quarter. Aperio Group LLC now owns 10,321 shares of the company’s stock worth $292,000 after buying an additional 608 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in shares of AeroVironment by 0.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 539,784 shares of the company’s stock valued at $15,287,000 after buying an additional 4,936 shares during the period. UBS Group AG boosted its position in shares of AeroVironment by 15.2% in the first quarter. UBS Group AG now owns 45,616 shares of the company’s stock valued at $1,291,000 after buying an additional 6,007 shares during the period. Neuberger Berman Group LLC boosted its position in shares of AeroVironment by 1.7% in the second quarter. Neuberger Berman Group LLC now owns 756,963 shares of the company’s stock valued at $21,044,000 after buying an additional 12,364 shares during the period. Finally, Prudential Financial Inc. boosted its position in shares of AeroVironment by 1.0% in the second quarter. Prudential Financial Inc. now owns 49,806 shares of the company’s stock valued at $1,385,000 after buying an additional 500 shares during the period. 69.35% of the stock is owned by institutional investors and hedge funds.

Shares of AeroVironment (NASDAQ:AVAV) opened at 27.95 on Friday. AeroVironment has a 52-week low of $21.85 and a 52-week high of $32.44. The company has a 50-day moving average of $23.91 and a 200 day moving average of $27.02. The stock has a market cap of $641.62 million, a P/E ratio of 153.57 and a beta of 1.25.

AeroVironment (NASDAQ:AVAV) last posted its earnings results on Tuesday, August 30th. The company reported ($0.51) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.17) by $0.34. The business had revenue of $36.20 million for the quarter, compared to analyst estimates of $37.81 million. AeroVironment had a return on equity of 1.22% and a net margin of 1.70%. The firm’s revenue for the quarter was down 23.1% compared to the same quarter last year. During the same period last year, the company posted ($0.24) EPS. Equities research analysts forecast that AeroVironment will post $0.22 EPS for the current fiscal year.

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