AeroVironment (NASDAQ:AVAV) Shares Gap Up Following Better-Than-Expected Earnings

AeroVironment, Inc. (NASDAQ:AVAV - Get Free Report)'s share price gapped up prior to trading on Wednesday following a stronger than expected earnings report. The stock had previously closed at $193.28, but opened at $223.84. AeroVironment shares last traded at $244.86, with a volume of 1,496,247 shares trading hands.

The aerospace company reported $1.61 earnings per share for the quarter, topping analysts' consensus estimates of $1.41 by $0.20. The company had revenue of $275.05 million for the quarter, compared to analysts' expectations of $242.69 million. AeroVironment had a net margin of 4.44% and a return on equity of 6.92%. The firm's revenue for the quarter was up 39.6% on a year-over-year basis. During the same quarter last year, the company earned $0.43 earnings per share.

Analyst Ratings Changes

AVAV has been the topic of a number of recent research reports. Wall Street Zen upgraded shares of AeroVironment from a "sell" rating to a "hold" rating in a research note on Sunday. Stifel Nicolaus started coverage on AeroVironment in a research report on Tuesday. They issued a "buy" rating and a $240.00 price target on the stock. Raymond James Financial raised AeroVironment from a "market perform" rating to a "strong-buy" rating and set a $200.00 price objective for the company in a research note on Tuesday, April 8th. Jefferies Financial Group dropped their target price on AeroVironment from $230.00 to $190.00 and set a "buy" rating on the stock in a report on Wednesday, March 5th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and set a $190.00 price target on shares of AeroVironment in a report on Monday, May 12th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $213.00.

Institutional Trading of AeroVironment

Several large investors have recently bought and sold shares of the company. CoreCap Advisors LLC boosted its position in shares of AeroVironment by 120.2% in the 4th quarter. CoreCap Advisors LLC now owns 185 shares of the aerospace company's stock worth $28,000 after buying an additional 101 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its position in AeroVironment by 171.1% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 244 shares of the aerospace company's stock worth $29,000 after acquiring an additional 154 shares during the last quarter. Colonial Trust Advisors purchased a new stake in shares of AeroVironment in the fourth quarter valued at about $31,000. Accredited Wealth Management LLC purchased a new position in shares of AeroVironment during the 4th quarter worth approximately $31,000. Finally, Spirit of America Management Corp NY acquired a new position in shares of AeroVironment during the 1st quarter worth approximately $36,000. Institutional investors and hedge funds own 86.38% of the company's stock.

AeroVironment Trading Up 25.2%

The business has a 50 day moving average of $170.23 and a 200-day moving average of $157.98. The stock has a market cap of $6.83 billion, a PE ratio of 210.16 and a beta of 0.81. The company has a current ratio of 4.22, a quick ratio of 3.07 and a debt-to-equity ratio of 0.03.

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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