BidaskClub Downgrades AeroVironment (NASDAQ:AVAV) to Hold

BidaskClub lowered shares of AeroVironment (NASDAQ:AVAV) from a buy rating to a hold rating in a research report sent to investors on Thursday, BidAskClub reports.

Other equities analysts have also recently issued reports about the company. ValuEngine upgraded AeroVironment from a hold rating to a buy rating in a report on Thursday, February 6th. Piper Jaffray Companies restated a buy rating and set a $76.00 target price on shares of AeroVironment in a report on Wednesday, November 20th. Zacks Investment Research cut AeroVironment from a buy rating to a hold rating in a report on Friday, November 8th. Finally, Robert W. Baird upgraded AeroVironment from a neutral rating to an outperform rating and raised their target price for the company from $65.00 to $81.00 in a report on Monday, December 2nd. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $75.25.

AeroVironment stock traded down $6.15 during midday trading on Thursday, reaching $63.82. 706,021 shares of the stock traded hands, compared to its average volume of 211,635. The company has a 50-day simple moving average of $67.80 and a two-hundred day simple moving average of $60.11. AeroVironment has a 12-month low of $48.61 and a 12-month high of $95.38. The firm has a market cap of $1.67 billion, a PE ratio of 39.64, a price-to-earnings-growth ratio of 1.67 and a beta of 1.14. The company has a current ratio of 10.18, a quick ratio of 9.01 and a debt-to-equity ratio of 0.01.

AeroVironment (NASDAQ:AVAV) last announced its earnings results on Tuesday, December 3rd. The aerospace company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.05. AeroVironment had a return on equity of 8.59% and a net margin of 11.60%. The company had revenue of $83.30 million during the quarter, compared to analysts’ expectations of $80.53 million. During the same period last year, the business posted $0.29 EPS. AeroVironment’s revenue for the quarter was up 14.1% on a year-over-year basis. Equities research analysts anticipate that AeroVironment will post 1.63 earnings per share for the current year.

In other news, Chairman Timothy E. Conver sold 6,896 shares of AeroVironment stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $60.86, for a total value of $419,690.56. Following the completion of the transaction, the chairman now owns 56,032 shares in the company, valued at approximately $3,410,107.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Timothy E. Conver sold 7,896 shares of AeroVironment stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $67.93, for a total value of $536,375.28. Following the completion of the transaction, the chairman now owns 56,032 shares of the company’s stock, valued at approximately $3,806,253.76. The disclosure for this sale can be found here. Insiders sold a total of 35,480 shares of company stock valued at $2,278,719 in the last quarter. Company insiders own 10.50% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in AVAV. Nuveen Asset Management LLC purchased a new position in shares of AeroVironment in the second quarter worth approximately $5,013,000. Royal Bank of Canada boosted its holdings in shares of AeroVironment by 4.7% in the second quarter. Royal Bank of Canada now owns 5,935 shares of the aerospace company’s stock worth $337,000 after buying an additional 264 shares during the last quarter. Stephens Investment Management Group LLC boosted its holdings in shares of AeroVironment by 17.9% in the third quarter. Stephens Investment Management Group LLC now owns 323,307 shares of the aerospace company’s stock worth $17,316,000 after buying an additional 49,123 shares during the last quarter. CWM LLC boosted its holdings in shares of AeroVironment by 15,127.4% in the third quarter. CWM LLC now owns 86,796 shares of the aerospace company’s stock worth $4,649,000 after buying an additional 86,226 shares during the last quarter. Finally, Essex Investment Management Co. LLC purchased a new position in shares of AeroVironment in the third quarter worth approximately $1,324,000. Institutional investors and hedge funds own 85.86% of the company’s stock.

AeroVironment Company Profile

AeroVironment, Inc designs, develops, produces, supports, and operates a portfolio of products and services for government agencies and businesses. The company offers unmanned aircraft systems (UAS) and related services primarily to organizations within the U.S. Department of Defense and to international allied governments; and tactical missile systems and related services to organizations within the U.S.

Further Reading: Cash Flow

Analyst Recommendations for AeroVironment (NASDAQ:AVAV)

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