AeroVironment (NASDAQ:AVAV) Stock Price Up 2.5% on Analyst Upgrade

Key Points

• AeroVironment's stock price increased by 2.5% following an upgrade from Robert W. Baird, which raised the price target from $210.00 to $267.00.
• The company has received positive ratings from several firms, with an average price target of $283.55 and a majority of analysts issuing a buy rating on the stock.
• AeroVironment reported earnings of $1.61 per share for the last quarter, significantly surpassing analyst expectations and showing a 39.6% year-over-year revenue growth.

Shares of AeroVironment, Inc. (NASDAQ:AVAV - Get Free Report) rose 2.5% on Monday after Robert W. Baird raised their price target on the stock from $210.00 to $267.00. Robert W. Baird currently has an outperform rating on the stock. AeroVironment traded as high as $271.00 and last traded at $266.64. Approximately 229,534 shares were traded during mid-day trading, a decline of 72% from the average daily volume of 832,939 shares. The stock had previously closed at $260.07.

Several other research firms also recently weighed in on AVAV. Royal Bank Of Canada lifted their price objective on AeroVironment from $275.00 to $300.00 and gave the company an "outperform" rating in a report on Thursday, July 17th. KeyCorp initiated coverage on AeroVironment in a report on Sunday, June 29th. They issued an "overweight" rating for the company. Cantor Fitzgerald initiated coverage on AeroVironment in a report on Tuesday, July 8th. They issued an "overweight" rating and a $335.00 price objective for the company. BTIG Research lifted their price objective on AeroVironment from $225.00 to $300.00 and gave the company a "buy" rating in a report on Tuesday, June 24th. Finally, Oppenheimer restated an "outperform" rating on shares of AeroVironment in a report on Sunday, June 29th. One investment analyst has rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $283.55.

Insider Transactions at AeroVironment

In other AeroVironment news, CEO Wahid Nawabi sold 17,300 shares of AeroVironment stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $263.05, for a total value of $4,550,765.00. Following the transaction, the chief executive officer owned 122,233 shares in the company, valued at $32,153,390.65. The trade was a 12.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.27% of the stock is owned by company insiders.

Institutional Investors Weigh In On AeroVironment

Large investors have recently modified their holdings of the business. ORG Partners LLC grew its stake in shares of AeroVironment by 296.0% during the second quarter. ORG Partners LLC now owns 99 shares of the aerospace company's stock worth $27,000 after acquiring an additional 74 shares during the last quarter. CoreCap Advisors LLC grew its stake in shares of AeroVironment by 120.2% during the fourth quarter. CoreCap Advisors LLC now owns 185 shares of the aerospace company's stock worth $28,000 after acquiring an additional 101 shares during the last quarter. RMG Wealth Management LLC purchased a new stake in shares of AeroVironment during the second quarter worth about $28,000. MassMutual Private Wealth & Trust FSB grew its stake in shares of 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. Finally, Colonial Trust Advisors purchased a new stake in shares of AeroVironment during the fourth quarter worth about $31,000. Hedge funds and other institutional investors own 86.38% of the company's stock.

AeroVironment Price Performance

The firm has a market cap of $13.18 billion, a PE ratio of 172.24 and a beta of 0.99. The company has a quick ratio of 2.69, a current ratio of 3.52 and a debt-to-equity ratio of 0.03. The stock has a 50 day moving average price of $228.06 and a two-hundred day moving average price of $177.69.

AeroVironment (NASDAQ:AVAV - Get Free Report) last issued its quarterly earnings results on Tuesday, June 24th. The aerospace company reported $1.61 earnings per share for the quarter, topping analysts' consensus estimates of $1.41 by $0.20. AeroVironment had a return on equity of 10.68% and a net margin of 5.32%. The business had revenue of $275.05 million for the quarter, compared to analyst estimates of $242.69 million. During the same quarter in the previous year, the firm earned $0.43 earnings per share. The company's revenue was up 39.6% on a year-over-year basis. As a group, equities analysts expect that AeroVironment, Inc. will post 3.38 earnings per share for the current year.

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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