AeroVironment (NASDAQ:AVAV) Stock Price Down 1.8% - What's Next?

Key Points

• AeroVironment's stock price fell by 1.8% during trading on Friday, marking a significant decrease from its previous closing price of $259.61.
• Analysts have predominantly rated the stock positively, with 15 buy ratings, three strong buy ratings, and an average price target of $283.55.
• The company reported strong quarterly earnings with an EPS of $1.61, exceeding estimates, and a revenue of $275.05 million, reflecting a 39.6% year-over-year increase.

AeroVironment, Inc. (NASDAQ:AVAV - Get Free Report)'s stock price traded down 1.8% during trading on Friday . The company traded as low as $255.61 and last traded at $254.95. 259,817 shares were traded during trading, a decline of 69% from the average session volume of 830,838 shares. The stock had previously closed at $259.61.

Analyst Ratings Changes

Several brokerages have weighed in on AVAV. Wedbush raised shares of AeroVironment to an "outperform" rating in a research report on Wednesday, June 25th. Jefferies Financial Group boosted their price target on AeroVironment from $275.00 to $285.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. JMP Securities initiated coverage on AeroVironment in a research note on Monday. They issued a "market outperform" rating and a $325.00 price target on the stock. Oppenheimer restated an "outperform" rating on shares of AeroVironment in a report on Sunday, June 29th. Finally, The Goldman Sachs Group initiated coverage on AeroVironment in a report on Monday, June 30th. They issued a "buy" rating and a $301.00 price objective for the company. One analyst has rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $283.55.

AeroVironment Stock Down 4.1%

The business has a 50-day moving average price of $235.24 and a 200 day moving average price of $180.19. The stock has a market capitalization of $12.28 billion, a P/E ratio of 159.21 and a beta of 0.99. 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 posted its quarterly earnings data on Tuesday, June 24th. The aerospace company reported $1.61 EPS for the quarter, topping the consensus estimate of $1.41 by $0.20. The company had revenue of $275.05 million during the quarter, compared to analyst estimates of $242.69 million. AeroVironment had a net margin of 5.32% and a return on equity of 10.68%. AeroVironment's quarterly revenue was up 39.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.43 earnings per share. On average, equities analysts expect that AeroVironment, Inc. will post 3.38 EPS for the current fiscal year.

Insider Activity at AeroVironment

In related news, CEO Wahid Nawabi sold 17,300 shares of AeroVironment stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $263.05, for a total transaction of $4,550,765.00. Following the completion of the sale, the chief executive officer owned 122,233 shares in the company, valued at $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 available through the SEC website. Insiders own 1.27% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of AVAV. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of AeroVironment by 21.5% in 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. Bessemer Group Inc. raised its stake in AeroVironment by 60.3% in the second quarter. Bessemer Group Inc. now owns 117 shares of the aerospace company's stock worth $33,000 after buying an additional 44 shares in the last quarter. Amalgamated Bank boosted its position in AeroVironment by 0.6% during the 2nd quarter. Amalgamated Bank now owns 8,023 shares of the aerospace company's stock valued at $2,286,000 after acquiring an additional 44 shares in the last quarter. Redwood Investments LLC increased its holdings in shares of AeroVironment by 0.7% in the 4th quarter. Redwood Investments LLC now owns 9,273 shares of the aerospace company's stock valued at $1,427,000 after acquiring an additional 66 shares during the period. Finally, Portside Wealth Group LLC raised its position in shares of AeroVironment by 4.3% in the 1st quarter. Portside Wealth Group LLC now owns 1,741 shares of the aerospace company's stock worth $208,000 after acquiring an additional 71 shares in the last quarter. Institutional investors 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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