Wall Street Zen Downgrades AeroVironment (NASDAQ:AVAV) to Sell

AeroVironment (NASDAQ:AVAV - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report issued on Saturday.

A number of other research firms have also weighed in on AVAV. William Blair reaffirmed an "outperform" rating on shares of AeroVironment in a research report on Wednesday, March 5th. Jefferies Financial Group lowered their target price on AeroVironment from $230.00 to $190.00 and set a "buy" rating on the stock in a report on Wednesday, March 5th. Raymond James raised AeroVironment from a "market perform" rating to a "strong-buy" rating and set a $200.00 target price on the stock in a report on Tuesday, April 8th. Robert W. Baird lifted their price objective on AeroVironment from $146.00 to $210.00 and gave the company an "outperform" rating in a research report on Friday, June 6th. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $190.00 target price on shares of AeroVironment in a research note on Monday, May 12th. One equities research analyst has rated the stock with a sell rating, six have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $208.50.

AeroVironment Trading Up 2.6%

AVAV opened at $195.10 on Friday. The business has a 50 day simple moving average of $162.93 and a two-hundred day simple moving average of $158.06. The firm has a market capitalization of $5.51 billion, a price-to-earnings ratio of 112.13 and a beta of 0.81. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.61 and a quick ratio of 3.36. AeroVironment has a one year low of $102.25 and a one year high of $236.60.

Insiders Place Their Bets

In other news, CEO Wahid Nawabi sold 29,366 shares of AeroVironment stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $128.20, for a total value of $3,764,721.20. Following the completion of the transaction, the chief executive officer now owns 115,174 shares in the company, valued at approximately $14,765,306.80. The trade was a 20.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.27% of the company's stock.

Hedge Funds Weigh In On AeroVironment

A number of large investors have recently bought and sold shares of AVAV. CoreCap Advisors LLC lifted its holdings in shares of AeroVironment by 120.2% in 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 period. MassMutual Private Wealth & Trust FSB raised its stake in AeroVironment by 171.1% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 244 shares of the aerospace company's stock valued at $29,000 after buying an additional 154 shares during the last quarter. Colonial Trust Advisors purchased a new stake in AeroVironment in the fourth quarter valued at about $31,000. Accredited Wealth Management LLC acquired a new position in shares of AeroVironment in the fourth quarter valued at about $31,000. Finally, Wilmington Savings Fund Society FSB increased its holdings in shares of AeroVironment by 1,515.4% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 210 shares of the aerospace company's stock valued at $32,000 after purchasing an additional 197 shares during the period. Hedge funds and other institutional investors 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.