Shares of AeroVironment, Inc. (NASDAQ:AVAV - Get Free Report) rose 2.4% on Wednesday . The stock traded as high as $267.65 and last traded at $268.69. Approximately 201,521 shares changed hands during mid-day trading, a decline of 68% from the average daily volume of 633,272 shares. The stock had previously closed at $262.48.
Analysts Set New Price Targets
AVAV has been the topic of several research analyst reports. Wall Street Zen raised AeroVironment from a "sell" rating to a "hold" rating in a research report on Sunday, June 22nd. Jefferies Financial Group boosted their price objective on AeroVironment from $275.00 to $285.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Robert W. Baird boosted their price objective on AeroVironment from $146.00 to $210.00 and gave the stock an "outperform" rating in a research report on Friday, June 6th. Raymond James Financial set a $225.00 price objective on AeroVironment and gave the stock a "strong-buy" rating in a research report on Wednesday, June 25th. Finally, BTIG Research upped their price target on AeroVironment from $225.00 to $300.00 and gave the company a "buy" rating in a research report on Tuesday, June 24th. One research 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 company. According to data from MarketBeat, AeroVironment presently has a consensus rating of "Buy" and an average price target of $268.00.
Read Our Latest Report on AVAV
AeroVironment Trading Down 0.6%
The firm has a fifty day simple moving average of $215.87 and a two-hundred day simple moving average of $173.22. The stock has a market cap of $13.30 billion, a PE ratio of 173.40 and a beta of 0.96. The company has a current ratio of 3.52, a quick ratio of 2.69 and a debt-to-equity ratio of 0.03.
AeroVironment (NASDAQ:AVAV - Get Free Report) last released its quarterly 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 return on equity of 10.68% and a net margin of 5.32%. The firm had revenue of $275.05 million for the quarter, compared to analysts' expectations of $242.69 million. During the same quarter last year, the firm posted $0.43 EPS. The company's revenue was up 39.6% compared to the same quarter last year. As a group, equities analysts expect that AeroVironment, Inc. will post 3.38 earnings per share for the current fiscal year.
Insider Buying and Selling at AeroVironment
In related news, CEO Wahid Nawabi sold 17,300 shares of the firm's stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $263.05, for a total transaction 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 trade represents a 12.40% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.27% of the company's stock.
Hedge Funds Weigh In On AeroVironment
A number of large investors have recently modified their holdings of AVAV. Stephens Investment Management Group LLC grew its position in AeroVironment by 41.0% during the 1st quarter. Stephens Investment Management Group LLC now owns 763,489 shares of the aerospace company's stock worth $91,000,000 after acquiring an additional 221,948 shares during the last quarter. Penserra Capital Management LLC grew its position in AeroVironment by 35.4% during the 1st quarter. Penserra Capital Management LLC now owns 17,873 shares of the aerospace company's stock worth $2,130,000 after acquiring an additional 4,669 shares during the last quarter. Stephens Inc. AR grew its position in AeroVironment by 94.8% during the 1st quarter. Stephens Inc. AR now owns 4,415 shares of the aerospace company's stock worth $526,000 after acquiring an additional 2,148 shares during the last quarter. Bank of America Corp DE grew its position in AeroVironment by 17.0% during the 4th quarter. Bank of America Corp DE now owns 45,272 shares of the aerospace company's stock worth $6,967,000 after acquiring an additional 6,589 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in AeroVironment by 415.7% during the 4th quarter. JPMorgan Chase & Co. now owns 198,975 shares of the aerospace company's stock worth $30,620,000 after acquiring an additional 160,390 shares during the last quarter. 86.38% of the stock is owned by hedge funds and other institutional investors.
AeroVironment Company Profile
(
Get Free Report)
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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