AeroVironment (NASDAQ:AVAV) Shares Gap Up - Should You Buy?

Shares of AeroVironment, Inc. (NASDAQ:AVAV - Get Free Report) gapped up prior to trading on Friday . The stock had previously closed at $237.57, but opened at $249.17. AeroVironment shares last traded at $250.74, with a volume of 890,779 shares trading hands.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AVAV. KeyCorp initiated coverage on shares of AeroVironment in a research note on Sunday, June 29th. They issued an "overweight" rating on the stock. Oppenheimer restated an "outperform" rating on shares of AeroVironment in a report on Sunday, June 29th. Wall Street Zen upgraded AeroVironment from a "sell" rating to a "hold" rating in a report on Sunday, June 22nd. Royal Bank Of Canada upped their price objective on shares of AeroVironment from $200.00 to $275.00 and gave the company an "outperform" rating in a report on Thursday, July 3rd. Finally, Cantor Fitzgerald started coverage on shares of AeroVironment in a report on Tuesday. They set an "overweight" rating and a $335.00 price objective on the stock. One analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $265.22.

AeroVironment Stock Performance

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 company has a market cap of $12.79 billion, a P/E ratio of 166.78 and a beta of 0.96. The business's 50 day simple moving average is $194.74 and its 200 day simple moving average is $165.57.

AeroVironment (NASDAQ:AVAV - Get Free Report) last announced its earnings results on Tuesday, June 24th. The aerospace company reported $1.61 earnings per share for the quarter, beating 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 business had revenue of $275.05 million for the quarter, compared to the consensus estimate of $242.69 million. During the same quarter in the prior year, the firm posted $0.43 earnings per share. The business's revenue for the quarter was up 39.6% on a year-over-year basis. Sell-side analysts predict that AeroVironment, Inc. will post 3.38 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AeroVironment

Several hedge funds and other institutional investors have recently bought and sold shares of AVAV. Jones Financial Companies Lllp grew its stake in shares of AeroVironment by 18.8% in the 4th quarter. Jones Financial Companies Lllp now owns 1,093 shares of the aerospace company's stock valued at $168,000 after buying an additional 173 shares during the period. Charles Schwab Investment Management Inc. increased its stake in AeroVironment by 2.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 264,073 shares of the aerospace company's stock valued at $40,638,000 after purchasing an additional 7,385 shares during the period. Atria Investments Inc raised its stake in shares of AeroVironment by 7.0% during the 4th quarter. Atria Investments Inc now owns 1,650 shares of the aerospace company's stock worth $254,000 after buying an additional 108 shares in the last quarter. Arizona State Retirement System boosted its stake in shares of AeroVironment by 0.8% during the 4th quarter. Arizona State Retirement System now owns 8,170 shares of the aerospace company's stock worth $1,257,000 after acquiring an additional 68 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in shares of AeroVironment by 4.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,782 shares of the aerospace company's stock valued at $582,000 after acquiring an additional 156 shares during the last quarter. Institutional investors and hedge funds own 86.38% of the company's stock.

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.

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