AeroVironment (NASDAQ:AVAV) Stock Gets Price Target Cut from KeyCorp

Key Points

• KeyCorp lowered AeroVironment’s price target from $220 to $200 while maintaining an “overweight” rating, implying 58.59% upside from the prior close.
• Analyst sentiment remains broadly positive: AeroVironment has a consensus “Moderate Buy” rating and an average price target of $223.86, despite several recent target reductions.
• The stock opened at $126.11, well below its 50-day and 200-day moving averages. The company recently beat quarterly earnings and revenue estimates, reporting $0.59 EPS and $480.49 million in revenue.

AeroVironment (NASDAQ:AVAV - Get Free Report) had its price target dropped by research analysts at KeyCorp from $220.00 to $200.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has an "overweight" rating on the aerospace company's stock. KeyCorp's price objective points to a potential upside of 58.59% from the company's previous close.

A number of other equities research analysts also recently commented on AVAV. Piper Sandler reduced their target price on AeroVironment from $248.00 to $235.00 and set an "overweight" rating on the stock in a research report on Thursday, July 9th. BTIG Research reissued a "buy" rating and issued a $205.00 price target on shares of AeroVironment in a research report on Thursday, September 10th. Barclays started coverage on shares of AeroVironment in a research note on Friday, October 9th. They set an "equal weight" rating and a $237.00 price target for the company. Raymond James Financial upgraded AeroVironment from a "market perform" rating to an "outperform" rating and set a $210.00 price target on the stock in a research report on Thursday, July 16th. Finally, Rothschild & Co Redburn started coverage on AeroVironment in a research note on Tuesday, October 6th. They set a "neutral" rating and a $165.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $223.86.

AeroVironment Stock Performance

NASDAQ AVAV opened at $126.11 on Monday. The stock's 50 day simple moving average is $141.15 and its 200-day simple moving average is $187.31. AeroVironment has a 1-year low of $113.15 and a 1-year high of $408.25. The company has a debt-to-equity ratio of 0.17, a current ratio of 4.26 and a quick ratio of 3.33. The company has a market cap of $6.41 billion, a PE ratio of -53.89, a price-to-earnings-growth ratio of 1.98 and a beta of 1.42.

AeroVironment (NASDAQ:AVAV - Get Free Report) last announced its earnings results on Wednesday, September 9th. The aerospace company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.37. The company had revenue of $480.49 million for the quarter, compared to analysts' expectations of $451.95 million. AeroVironment had a negative net margin of 5.77% and a positive return on equity of 4.04%. The firm's quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.32 EPS. AeroVironment has set its FY 2027 guidance at 3.020-3.340 EPS. As a group, equities research analysts anticipate that AeroVironment will post 3.26 EPS for the current fiscal year.

Insider Buying and Selling at AeroVironment

In other AeroVironment news, Director Stephen F. Page sold 250 shares of the stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $152.27, for a total value of $38,067.50. Following the completion of the transaction, the director directly owned 48,253 shares of the company's stock, valued at approximately $7,347,484.31. This trade represents a 0.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Brian Shackley sold 205 shares of AeroVironment stock in a transaction on Friday, August 14th. The stock was sold at an average price of $201.86, for a total value of $41,381.30. Following the transaction, the chief accounting officer directly owned 7,888 shares of the company's stock, valued at approximately $1,592,271.68. This represents a 2.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 805 shares of company stock valued at $142,671 in the last quarter. 0.79% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On AeroVironment

Several institutional investors and hedge funds have recently made changes to their positions in the business. Southern Financial Group LLC lifted its holdings in AeroVironment by 20.0% in the 3rd quarter. Southern Financial Group LLC now owns 1,479 shares of the aerospace company's stock valued at $210,000 after purchasing an additional 246 shares in the last quarter. Integrity Alliance LLC. purchased a new stake in shares of AeroVironment during the third quarter worth about $290,000. Oregon Public Employees Retirement Fund grew its holdings in shares of AeroVironment by 18.0% during the third quarter. Oregon Public Employees Retirement Fund now owns 7,856 shares of the aerospace company's stock worth $1,117,000 after buying an additional 1,200 shares in the last quarter. Traynor Capital Management Inc. grew its holdings in shares of AeroVironment by 26.7% during the third quarter. Traynor Capital Management Inc. now owns 27,836 shares of the aerospace company's stock worth $3,959,000 after buying an additional 5,872 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in shares of AeroVironment by 17.8% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 288,450 shares of the aerospace company's stock valued at $41,023,000 after buying an additional 43,610 shares during the last quarter. 86.38% of the stock is currently owned by hedge funds and other institutional investors.

About AeroVironment

AeroVironment, Inc is a defense technology company that develops and supplies uncrewed aircraft systems, loitering munitions, counter-uncrewed-aircraft systems, space systems and related autonomous technologies. Its products are designed for intelligence, surveillance and reconnaissance, precision strike, tactical communications and other defense and security missions.

The company's portfolio includes the Raven, Puma and Quantix unmanned aircraft systems; the JUMP 20 vertical-takeoff-and-landing aircraft; and the Switchblade family of loitering munitions.

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