AeroVironment (NASDAQ:AVAV) Shares Down 3.2% - Here's Why

Key Points

• AeroVironment shares fell 3.2% to about $147.23, with trading volume roughly 35% below the average. The stock remains below its 50-day and 200-day moving averages.
• Analysts remain broadly positive, with a MarketBeat consensus rating of “Moderate Buy” and an average price target of $238.89, although Jefferies and Bank of America recently lowered their targets to $204 and $185, respectively.
• The company exceeded quarterly expectations, reporting $0.59 in earnings per share versus a $0.22 consensus estimate and $480.49 million in revenue, up 5.7% year over year. Institutional investors own 86.38% of the stock, while insiders sold 805 shares during the latest quarter.

AeroVironment, Inc. (NASDAQ:AVAV - Get Free Report)'s stock price was down 3.2% on Monday. The company traded as low as $147.02 and last traded at $147.23. Approximately 1,087,769 shares were traded during trading, a decline of 35% from the average daily volume of 1,677,786 shares. The stock had previously closed at $152.05.

Analyst Ratings Changes

AVAV has been the topic of a number of recent research reports. Jefferies Financial Group dropped their price objective on shares of AeroVironment from $229.00 to $204.00 and set a "buy" rating on the stock in a research note on Wednesday, September 16th. KeyCorp reiterated an "overweight" rating on shares of AeroVironment in a research note on Tuesday, July 28th. Citizens Jmp reissued a "market outperform" rating and set a $230.00 price target on shares of AeroVironment in a report on Thursday, September 10th. Bank of America reduced their price objective on AeroVironment from $225.00 to $185.00 and set a "buy" rating for the company in a research note on Friday, September 11th. Finally, Citigroup reaffirmed a "market outperform" rating on shares of AeroVironment in a research report on Thursday, September 10th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $238.89.

AeroVironment Stock Down 3.2%

The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.33 and a current ratio of 4.26. The firm has a market capitalization of $7.48 billion, a price-to-earnings ratio of -62.92, a PEG ratio of 2.40 and a beta of 1.41. The firm has a fifty day moving average price of $158.73 and a 200 day moving average price of $172.59.

AeroVironment (NASDAQ:AVAV - Get Free Report) last announced its quarterly earnings data on Wednesday, September 9th. The aerospace company reported $0.59 earnings per share for the quarter, topping analysts' consensus estimates 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 firm 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 posted $0.32 earnings per share. AeroVironment's quarterly revenue was up 5.7% on a year-over-year basis. AeroVironment has set its FY 2027 guidance at 3.020-3.340 EPS. As a group, sell-side analysts expect that AeroVironment, Inc. will post 3.25 EPS for the current fiscal year.

Insider Activity

In related news, CAO Brian Shackley sold 205 shares of the business's stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $201.86, for a total transaction of $41,381.30. Following the sale, the chief accounting officer owned 7,888 shares of the company's stock, valued at approximately $1,592,271.68. The trade was a 2.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stephen Page sold 250 shares of the company's stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $152.27, for a total transaction of $38,067.50. Following the transaction, the director owned 48,253 shares in the company, valued at $7,347,484.31. The trade was a 0.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. Company insiders own 0.79% of the company's stock.

Institutional Investors Weigh In On AeroVironment

Several institutional investors have recently modified their holdings of AVAV. BlackRock Inc. purchased a new position in AeroVironment in the 2nd quarter valued at approximately $574,566,000. Geode Capital Management LLC boosted its position in AeroVironment by 8.8% during the fourth quarter. Geode Capital Management LLC now owns 884,395 shares of the aerospace company's stock worth $213,956,000 after purchasing an additional 71,903 shares in the last quarter. Heard Capital LLC grew its holdings in AeroVironment by 48.4% in the fourth quarter. Heard Capital LLC now owns 722,150 shares of the aerospace company's stock valued at $174,681,000 after purchasing an additional 235,685 shares during the last quarter. Norges Bank acquired a new stake in AeroVironment in the fourth quarter valued at $94,655,000. Finally, Stephens Investment Management Group LLC grew its holdings in AeroVironment by 18.8% in the first quarter. Stephens Investment Management Group LLC now owns 490,426 shares of the aerospace company's stock valued at $89,772,000 after purchasing an additional 77,619 shares during the last quarter. Hedge funds and other institutional investors own 86.38% of the company's stock.

AeroVironment Company Profile

AeroVironment, Inc is a defense technology company that develops and produces unmanned aircraft systems, loitering munitions, counter-unmanned aircraft systems and related robotic technologies. Its products are designed for intelligence, surveillance and reconnaissance, precision strike, force protection and tactical communications applications.

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

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