AeroVironment's (AVAV) Market Outperform Rating Reaffirmed at JMP Securities

Key Points

• JMP Securities has reaffirmed their "market outperform" rating for AeroVironment (AVAV), setting a price target of $325.00, which indicates a potential upside of nearly 30% from the current stock price.
• AeroVironment reported a 39.6% increase in revenue for the latest quarter, topping analysts' expectations with revenue of $275.05 million and earnings per share of $1.61.
• AeroVironment's stock is currently trading at $250.12, with strong support from institutional investors holding 86.38% of the company's stock, indicating robust investor confidence.

AeroVironment (NASDAQ:AVAV - Get Free Report)'s stock had its "market outperform" rating reiterated by research analysts at JMP Securities in a research note issued on Monday,Benzinga reports. They presently have a $325.00 price target on the aerospace company's stock. JMP Securities' price objective would suggest a potential upside of 29.94% from the company's current price.

A number of other analysts have also commented on the company. Citigroup initiated coverage on AeroVironment in a research report on Monday, August 4th. They issued an "outperform" rating for the company. Citizens Jmp started coverage on shares of AeroVironment in a research note on Monday, August 4th. They issued a "strong-buy" rating and a $325.00 target price for the company. KeyCorp began coverage on AeroVironment in a research report on Sunday, June 29th. They set an "overweight" rating on the stock. The Goldman Sachs Group began coverage on shares of AeroVironment in a research note on Monday, June 30th. They issued a "buy" rating and a $301.00 target price for the company. Finally, Wall Street Zen raised shares of AeroVironment from a "sell" rating to a "hold" rating in a report on Sunday, June 22nd. One investment analyst has rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $285.33.

AeroVironment Stock Performance

AVAV stock traded up $3.47 during mid-day trading on Monday, reaching $250.12. 106,710 shares of the stock traded hands, compared to its average volume of 830,721. 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 business has a 50-day moving average of $243.04 and a two-hundred day moving average of $183.28. AeroVironment has a 52 week low of $102.25 and a 52 week high of $295.90. The firm has a market capitalization of $12.49 billion, a PE ratio of 161.05 and a beta of 0.99.

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

Insider Activity

In other 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 completion of the transaction, the chief executive officer directly owned 122,233 shares in the company, valued at $32,153,390.65. This trade represents a 12.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.81% of the stock is owned by company insiders.

Hedge Funds Weigh In On AeroVironment

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in AeroVironment by 14.3% in the second quarter. Vanguard Group Inc. now owns 3,478,114 shares of the aerospace company's stock valued at $991,089,000 after buying an additional 433,830 shares during the period. Alyeska Investment Group L.P. raised its holdings in shares of AeroVironment by 48.2% during the first quarter. Alyeska Investment Group L.P. now owns 902,814 shares of the aerospace company's stock valued at $107,606,000 after purchasing an additional 293,553 shares during the period. Stephens Investment Management Group LLC grew its stake in AeroVironment by 41.0% in the first quarter. Stephens Investment Management Group LLC now owns 763,489 shares of the aerospace company's stock valued at $91,000,000 after acquiring an additional 221,948 shares during the period. Geode Capital Management LLC grew its stake in AeroVironment by 1.0% in the second quarter. Geode Capital Management LLC now owns 678,431 shares of the aerospace company's stock valued at $193,342,000 after acquiring an additional 6,475 shares during the period. Finally, Invesco Ltd. grew its stake in AeroVironment by 75.6% in the second quarter. Invesco Ltd. now owns 609,019 shares of the aerospace company's stock valued at $173,540,000 after acquiring an additional 262,239 shares during the period. 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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