AeroVironment (NASDAQ:AVAV) Sets New 12-Month Low on Analyst Downgrade

Key Points

• AeroVironment shares hit a new 52-week low, falling to $116.30 after Citizens JMP cut its price target from $230 to $170, though it maintained an “outperform” rating.
• Analyst sentiment remains broadly positive, with the stock holding a “Moderate Buy” consensus and an average price target of $225.80 despite several recent target reductions and a downgrade from RBC.
• The company recently beat quarterly estimates, reporting $0.59 in adjusted EPS and $480.49 million in revenue, while institutional investors own 86.38% of its shares and insiders sold $142,671 of stock over the past 90 days.

AeroVironment, Inc. (NASDAQ:AVAV - Get Free Report) shares hit a new 52-week low on Tuesday after Citizens Jmp lowered their price target on the stock from $230.00 to $170.00. Citizens Jmp currently has a market outperform rating on the stock. AeroVironment traded as low as $116.30 and last traded at $119.6420, with a volume of 133,906 shares trading hands. The stock had previously closed at $117.90.

Several other analysts also recently issued reports on AVAV. Royal Bank Of Canada downgraded shares of AeroVironment from an "outperform" rating to a "sector perform" rating and decreased their price objective for the stock from $210.00 to $180.00 in a research note on Thursday, July 9th. Bank of America cut their target price on AeroVironment from $225.00 to $185.00 and set a "buy" rating on the stock in a research note on Friday, September 11th. William Blair reiterated an "outperform" rating on shares of AeroVironment in a report on Wednesday, July 15th. Citigroup began coverage on AeroVironment in a report on Friday. They issued a "buy" rating on the stock. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $225.00 price objective on shares of AeroVironment in a research report on Thursday, September 10th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $225.80.

Insider Activity at AeroVironment

In other news, Director Stephen Page sold 250 shares of AeroVironment stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $152.27, for a total value of $38,067.50. Following the transaction, the director directly owned 48,253 shares in the company, valued at approximately $7,347,484.31. This trade represents a 0.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 that occurred on Friday, August 14th. The stock was sold at an average price of $201.86, for a total transaction of $41,381.30. Following the completion of the transaction, the chief accounting officer directly owned 7,888 shares in the company, valued at approximately $1,592,271.68. The trade was a 2.53% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 805 shares of company stock valued at $142,671 in the last ninety days. Corporate insiders own 0.79% of the company's stock.

Institutional Investors Weigh In On AeroVironment

A number of institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. bought a new position in AeroVironment during the 2nd quarter worth approximately $574,566,000. American Capital Management Inc. bought a new stake in shares of AeroVironment in the 2nd quarter valued at $69,745,000. Bank of America Corp DE bought a new stake in shares of AeroVironment in the 2nd quarter valued at $67,549,000. Korea Investment CORP bought a new stake in shares of AeroVironment in the 2nd quarter valued at $54,901,000. Finally, Atreides Management LP acquired a new stake in shares of AeroVironment during the first quarter worth $29,595,000. Institutional investors and hedge funds own 86.38% of the company's stock.

AeroVironment Stock Performance

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's 50-day moving average price is $150.93 and its two-hundred day moving average price is $164.86. The company has a market capitalization of $6.08 billion, a price-to-earnings ratio of -50.98, a PEG ratio of 1.91 and a beta of 1.36.

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

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.

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.