AeroVironment (NASDAQ:AVAV) Price Target Raised to $300.00 at Royal Bank Of Canada

AeroVironment (NASDAQ:AVAV - Get Free Report) had its price objective upped by Royal Bank Of Canada from $275.00 to $300.00 in a report issued on Thursday,Benzinga reports. The firm currently has an "outperform" rating on the aerospace company's stock. Royal Bank Of Canada's target price would indicate a potential upside of 9.48% from the company's previous close.

A number of other brokerages have also recently weighed in on AVAV. Jefferies Financial Group upped their price objective on AeroVironment from $275.00 to $285.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Wall Street Zen upgraded AeroVironment from a "sell" rating to a "hold" rating in a research note on Sunday, June 22nd. Raymond James Financial set a $225.00 price target on AeroVironment and gave the company a "strong-buy" rating in a research note on Wednesday, June 25th. BTIG Research increased their price target on AeroVironment from $225.00 to $300.00 and gave the company a "buy" rating in a research note on Tuesday, June 24th. Finally, Canaccord Genuity Group reiterated a "buy" rating on shares of AeroVironment in a research note on Thursday, June 26th. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, AeroVironment has a consensus rating of "Buy" and an average price target of $268.00.

AeroVironment Stock Down 1.6%

Shares of NASDAQ AVAV traded down $4.53 during mid-day trading on Thursday, reaching $274.03. 1,247,188 shares of the company were exchanged, compared to its average volume of 625,027. The company has a quick ratio of 2.69, a current ratio of 3.52 and a debt-to-equity ratio of 0.03. The stock has a market cap of $13.52 billion, a price-to-earnings ratio of 176.79 and a beta of 0.96. AeroVironment has a 1 year low of $102.25 and a 1 year high of $295.90. The firm has a 50-day moving average of $205.39 and a 200 day moving average of $169.33.

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

Insider Buying and Selling at AeroVironment

In other news, CEO Wahid Nawabi sold 17,300 shares of the stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $263.05, for a total value of $4,550,765.00. Following the transaction, the chief executive officer directly owned 122,233 shares of the company's stock, valued at approximately $32,153,390.65. This represents a 12.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.27% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. ORG Partners LLC increased its holdings in shares of AeroVironment by 296.0% in the second quarter. ORG Partners LLC now owns 99 shares of the aerospace company's stock valued at $27,000 after purchasing an additional 74 shares during the period. CoreCap Advisors LLC raised its position in AeroVironment by 120.2% during the fourth quarter. CoreCap Advisors LLC now owns 185 shares of the aerospace company's stock valued at $28,000 after acquiring an additional 101 shares in the last quarter. Colonial Trust Advisors purchased a new position in AeroVironment during the fourth quarter valued at approximately $31,000. Accredited Wealth Management LLC purchased a new position in AeroVironment during the fourth quarter valued at approximately $31,000. Finally, Thurston Springer Miller Herd & Titak Inc. raised its position in AeroVironment by 21.5% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 237 shares of the aerospace company's stock valued at $68,000 after acquiring an additional 42 shares in the last quarter. 86.38% of the stock is owned by institutional investors and hedge funds.

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.