Brokerages Set AeroVironment, Inc. (NASDAQ:AVAV) Target Price at $283.55

Key Points

• AeroVironment, Inc. has received a consensus rating of “Buy” from 17 brokerages, with 14 issuing a buy recommendation and 3 a strong buy recommendation.
• The company's earnings for the last quarter were $1.61 per share, exceeding analysts' expectations of $1.41, alongside a significant revenue increase of 39.6% year-over-year.
• Despite a recent 1.2% decline in trading, AeroVironment maintains a market cap of $13.06 billion and a robust current ratio of 3.52.

AeroVironment, Inc. (NASDAQ:AVAV - Get Free Report) has received an average recommendation of "Buy" from the eighteen analysts that are covering the firm, Marketbeat reports. Fifteen equities research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $283.5455.

AVAV has been the topic of several recent research reports. Stifel Nicolaus initiated coverage on shares of AeroVironment in a report on Tuesday, June 24th. They set a "buy" rating and a $240.00 target price on the stock. Oppenheimer reissued an "outperform" rating on shares of AeroVironment in a research report on Sunday, June 29th. Citigroup initiated coverage on shares of AeroVironment in a research report on Monday, August 4th. They set an "outperform" rating for the company. Wall Street Zen raised shares of AeroVironment from a "sell" rating to a "hold" rating in a research report on Sunday, June 22nd. Finally, Raymond James Financial set a $225.00 price target on shares of AeroVironment and gave the company a "strong-buy" rating in a research report on Wednesday, June 25th.

AeroVironment Trading Down 4.7%

Shares of NASDAQ AVAV traded down $12.16 during mid-day trading on Wednesday, reaching $247.45. The company had a trading volume of 1,093,469 shares, compared to its average volume of 1,481,090. The business's 50-day moving average is $236.67 and its 200-day moving average is $180.67. The company has a current ratio of 3.52, a quick ratio of 2.69 and a debt-to-equity ratio of 0.03. The stock has a market cap of $12.21 billion, a price-to-earnings ratio of 159.65 and a beta of 0.99. AeroVironment has a 52 week low of $102.25 and a 52 week high of $295.90.

AeroVironment (NASDAQ:AVAV - Get Free Report) last issued its earnings results on Tuesday, June 24th. The aerospace company reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.20. AeroVironment had a net margin of 5.32% and a return on equity of 10.68%. The company had revenue of $275.05 million for the quarter, compared to analysts' expectations of $242.69 million. During the same period in the prior year, the business earned $0.43 EPS. The firm's quarterly revenue was up 39.6% on a year-over-year basis. Equities analysts expect that AeroVironment will post 3.38 earnings per share for the current year.

Insider Activity at AeroVironment

In related news, CEO Wahid Nawabi sold 17,300 shares of the stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $263.05, for a total value of $4,550,765.00. Following the completion of the transaction, the chief executive officer directly owned 122,233 shares of the company's stock, valued at $32,153,390.65. This trade represents a 12.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.27% of the stock is owned by insiders.

Hedge Funds Weigh In On AeroVironment

A number of institutional investors have recently bought and sold shares of AVAV. ORG Partners LLC raised its position in AeroVironment by 296.0% during the 2nd quarter. ORG Partners LLC now owns 99 shares of the aerospace company's stock worth $27,000 after buying an additional 74 shares during the last quarter. CoreCap Advisors LLC grew its stake in shares of AeroVironment by 120.2% during the 4th quarter. CoreCap Advisors LLC now owns 185 shares of the aerospace company's stock worth $28,000 after purchasing an additional 101 shares during the period. RMG Wealth Management LLC acquired a new stake in shares of AeroVironment during the 2nd quarter worth approximately $28,000. MassMutual Private Wealth & Trust FSB grew its stake in shares of AeroVironment by 171.1% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 244 shares of the aerospace company's stock worth $29,000 after purchasing an additional 154 shares during the period. Finally, Colonial Trust Advisors acquired a new stake in shares of AeroVironment during the 4th quarter worth approximately $31,000. 86.38% of the stock is owned by hedge funds and other institutional investors.

About AeroVironment

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