Simmons Bank Makes New Investment in AeroVironment, Inc. (NASDAQ:AVAV)

Simmons Bank purchased a new stake in AeroVironment, Inc. (NASDAQ:AVAV - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 7,805 shares of the aerospace company's stock, valued at approximately $930,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Redwood Investments LLC lifted its position in shares of AeroVironment by 0.7% in the fourth quarter. Redwood Investments LLC now owns 9,273 shares of the aerospace company's stock valued at $1,427,000 after buying an additional 66 shares during the last quarter. Arizona State Retirement System boosted its position in AeroVironment by 0.8% during the fourth quarter. Arizona State Retirement System now owns 8,170 shares of the aerospace company's stock worth $1,257,000 after purchasing an additional 68 shares during the period. Portside Wealth Group LLC increased its holdings in shares of AeroVironment by 4.3% in the first quarter. Portside Wealth Group LLC now owns 1,741 shares of the aerospace company's stock valued at $208,000 after purchasing an additional 71 shares during the last quarter. Mackenzie Financial Corp raised its position in shares of AeroVironment by 5.5% in the fourth quarter. Mackenzie Financial Corp now owns 1,601 shares of the aerospace company's stock valued at $246,000 after purchasing an additional 83 shares during the period. Finally, CoreCap Advisors LLC lifted its stake in shares of AeroVironment by 120.2% during the 4th quarter. CoreCap Advisors LLC now owns 185 shares of the aerospace company's stock worth $28,000 after buying an additional 101 shares during the last quarter. 86.38% of the stock is owned by institutional investors.

AeroVironment Price Performance

Shares of NASDAQ AVAV traded down $5.49 during mid-day trading on Monday, hitting $240.74. 2,382,972 shares of the stock traded hands, compared to its average volume of 546,586. The company has a market cap of $11.00 billion, a PE ratio of 155.32 and a beta of 0.96. AeroVironment, Inc. has a twelve month low of $102.25 and a twelve month high of $295.90. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.52 and a quick ratio of 2.69. The firm has a 50 day simple moving average of $187.89 and a two-hundred day simple moving average of $163.50.

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

Analyst Upgrades and Downgrades

AVAV has been the subject of several research reports. Wall Street Zen upgraded shares of AeroVironment from a "sell" rating to a "hold" rating in a research report on Sunday, June 22nd. Canaccord Genuity Group reissued a "buy" rating on shares of AeroVironment in a report on Thursday, June 26th. Royal Bank Of Canada upped their price objective on AeroVironment from $200.00 to $275.00 and gave the company an "outperform" rating in a report on Thursday. BTIG Research lifted their target price on AeroVironment from $225.00 to $300.00 and gave the stock a "buy" rating in a report on Tuesday, June 24th. Finally, Robert W. Baird boosted their target price on shares of AeroVironment from $146.00 to $210.00 and gave the company an "outperform" rating in a research report on Friday, June 6th. One investment analyst has rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, AeroVironment has an average rating of "Buy" and a consensus target price of $256.50.

AeroVironment Company Profile

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.