AeroVironment (NASDAQ:AVAV) Shares Down 2.4% - Should You Sell?

Key Points

• AeroVironment shares fell by 2.4%, trading at $266.37 after a drop from a previous close of $272.88.
• The company reported earnings of $1.61 per share, exceeding analysts' estimates of $1.41, with a revenue increase of 39.6% year-over-year.
• AeroVironment has a consensus rating of "Buy" from analysts, with a price target averaging $268.00.

AeroVironment, Inc. (NASDAQ:AVAV - Get Free Report) was down 2.4% during mid-day trading on Monday . The company traded as low as $268.00 and last traded at $266.37. Approximately 302,161 shares were traded during trading, a decline of 64% from the average daily volume of 833,470 shares. The stock had previously closed at $272.88.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on AVAV shares. Stifel Nicolaus started coverage on AeroVironment in a report on Tuesday, June 24th. They set a "buy" rating and a $240.00 price objective for the company. Robert W. Baird lifted their price objective on AeroVironment from $146.00 to $210.00 and gave the company an "outperform" rating in a report on Friday, June 6th. KeyCorp started coverage on AeroVironment in a report on Sunday, June 29th. They set an "overweight" rating for the company. Oppenheimer reissued an "outperform" rating on shares of AeroVironment in a report on Sunday, June 29th. Finally, Royal Bank Of Canada lifted their price objective on AeroVironment from $275.00 to $300.00 and gave the company an "outperform" rating in a report on Thursday, July 17th. One investment analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, AeroVironment presently has a consensus rating of "Buy" and an average price target of $268.00.

AeroVironment Price Performance

The company has a fifty day moving average of $218.04 and a 200-day moving average of $174.13. The firm has a market cap of $13.29 billion, a P/E ratio of 173.16 and a beta of 0.96. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.52 and a quick ratio of 2.69.

AeroVironment (NASDAQ:AVAV - Get Free Report) last posted its quarterly earnings data on Tuesday, June 24th. The aerospace company reported $1.61 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.20. The business had revenue of $275.05 million for 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 business's revenue was up 39.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.43 earnings per share. On average, sell-side analysts anticipate that AeroVironment, Inc. will post 3.38 EPS for the current fiscal year.

Insider Transactions at AeroVironment

In other AeroVironment news, CEO Wahid Nawabi sold 17,300 shares of the company's 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 in the company, valued at $32,153,390.65. This represents a 12.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.27% of the company's stock.

Hedge Funds Weigh In On AeroVironment

A number of institutional investors have recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC increased its position in shares of AeroVironment by 41.7% during the 4th quarter. Commonwealth Equity Services LLC now owns 8,559 shares of the aerospace company's stock valued at $1,317,000 after purchasing an additional 2,518 shares during the last quarter. American Century Companies Inc. bought a new position in AeroVironment during the 4th quarter worth approximately $279,000. KLP Kapitalforvaltning AS bought a new position in AeroVironment during the 4th quarter worth approximately $893,000. Vanguard Group Inc. lifted its holdings in AeroVironment by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 3,098,822 shares of the aerospace company's stock worth $476,878,000 after buying an additional 35,543 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in shares of AeroVironment by 415.7% in the 4th quarter. JPMorgan Chase & Co. now owns 198,975 shares of the aerospace company's stock valued at $30,620,000 after purchasing an additional 160,390 shares during the period. 86.38% of the stock is currently owned by institutional investors.

AeroVironment Company Profile

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.

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