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AeroVironment (NASDAQ:AVAV) Stock Price Down 1.9% on Analyst Downgrade

AeroVironment logo with Aerospace background
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Key Points

  • AeroVironment shares fell 1.9% after Citizens JMP cut its price target from $350 to $230, though it kept a market outperform rating. The stock traded as low as $141.15 during the session.
  • Other analysts also lowered targets recently, including Canaccord Genuity and Piper Sandler, while the broader analyst consensus remains Moderate Buy with an average price target of $266.68.
  • The company continues to face legal uncertainty from class-action lawsuit promotions and reminders about a lead-plaintiff deadline, even as it reported strong quarterly results and a new Italian military designation for its JUMP 20 system.
  • MarketBeat previews the top five stocks to own by August 1st.

AeroVironment, Inc. (NASDAQ:AVAV - Get Free Report) shares traded down 1.9% during mid-day trading on Monday after Citizens Jmp lowered their price target on the stock from $350.00 to $230.00. Citizens Jmp currently has a market outperform rating on the stock. AeroVironment traded as low as $141.15 and last traded at $141.80. Approximately 1,235,000 shares traded hands during trading, a decline of 27% from the average daily volume of 1,690,868 shares. The stock had previously closed at $144.58.

Several other analysts also recently weighed in on AVAV. Canaccord Genuity Group dropped their target price on shares of AeroVironment from $280.00 to $240.00 and set a "buy" rating on the stock in a research report on Friday. Piper Sandler decreased their price target on shares of AeroVironment from $248.00 to $235.00 and set an "overweight" rating for the company in a report on Thursday. Raymond James Financial raised shares of AeroVironment from an "underperform" rating to a "market perform" rating in a report on Monday, March 23rd. Wall Street Zen raised AeroVironment from a "sell" rating to a "hold" rating in a research report on Sunday, July 5th. Finally, Weiss Ratings restated a "sell (d)" rating on shares of AeroVironment in a research note on Monday, June 8th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $266.68.

Check Out Our Latest Research Report on AeroVironment

Insider Transactions at AeroVironment

In other AeroVironment news, Director Stephen F. Page sold 250 shares of AeroVironment stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $174.41, for a total transaction of $43,602.50. Following the completion of the sale, the director directly owned 49,001 shares in the company, valued at approximately $8,546,264.41. The trade was a 0.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 750 shares of company stock worth $133,502. Company insiders own 0.81% of the company's stock.

AeroVironment News Roundup

Here are the key news stories impacting AeroVironment this week:

Institutional Investors Weigh In On AeroVironment

Several hedge funds have recently added to or reduced their stakes in the business. Legacy Bridge LLC lifted its holdings in shares of AeroVironment by 1.0% in the 4th quarter. Legacy Bridge LLC now owns 4,046 shares of the aerospace company's stock valued at $979,000 after buying an additional 39 shares during the period. NewEdge Wealth LLC raised its position in AeroVironment by 1.1% during the fourth quarter. NewEdge Wealth LLC now owns 3,709 shares of the aerospace company's stock valued at $897,000 after acquiring an additional 39 shares in the last quarter. J.W. Cole Advisors Inc. raised its position in AeroVironment by 3.7% during the fourth quarter. J.W. Cole Advisors Inc. now owns 1,081 shares of the aerospace company's stock valued at $261,000 after acquiring an additional 39 shares in the last quarter. Parkside Financial Bank & Trust lifted its holdings in AeroVironment by 29.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 188 shares of the aerospace company's stock valued at $45,000 after acquiring an additional 43 shares during the period. Finally, Signaturefd LLC lifted its holdings in AeroVironment by 10.5% in the fourth quarter. Signaturefd LLC now owns 495 shares of the aerospace company's stock valued at $120,000 after acquiring an additional 47 shares during the period. 86.38% of the stock is owned by hedge funds and other institutional investors.

AeroVironment Trading Down 1.9%

The company has a current ratio of 4.30, a quick ratio of 3.59 and a debt-to-equity ratio of 0.17. The company has a 50-day simple moving average of $171.26 and a 200 day simple moving average of $220.60. The firm has a market cap of $7.18 billion, a PE ratio of -38.53, a price-to-earnings-growth ratio of 2.18 and a beta of 1.39.

AeroVironment (NASDAQ:AVAV - Get Free Report) last issued its quarterly earnings data on Monday, June 29th. The aerospace company reported $1.84 EPS for the quarter, topping analysts' consensus estimates of $1.47 by $0.37. AeroVironment had a negative net margin of 9.00% and a positive return on equity of 3.71%. The business had revenue of $641.62 million for the quarter, compared to analysts' expectations of $555.97 million. During the same quarter last year, the company earned $1.61 EPS. The business's revenue was up 133.3% on a year-over-year basis. AeroVironment has set its FY 2027 guidance at 3.020-3.340 EPS. As a group, sell-side analysts forecast that AeroVironment, Inc. will post 3.4 earnings per share for the current fiscal year.

AeroVironment Company Profile

(Get Free Report)

AeroVironment, Inc NASDAQ: AVAV is a technology company specializing in unmanned aerial systems (UAS), tactical missiles and precision loitering munitions, electric vehicle charging and scalable energy systems. Headquartered in Monrovia, California, the company develops solutions for defense, public safety and commercial markets. Their offerings include small UAS for intelligence, surveillance and reconnaissance, as well as advanced weapons systems designed to meet the needs of modern military operations.

The company's unmanned aerial systems portfolio features platforms such as the Raven, Puma and Switchblade series, which are deployed by the U.S.

Further Reading

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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