AeroVironment, Inc. (AVAV) Downgraded by ValuEngine to “Hold”

ValuEngine lowered shares of AeroVironment, Inc. (NASDAQ:AVAV) from a buy rating to a hold rating in a research note published on Wednesday.

Other research analysts have also issued research reports about the company. BidaskClub lowered AeroVironment from a strong-buy rating to a buy rating in a report on Friday, July 28th. Canaccord Genuity lifted their target price on AeroVironment from $35.00 to $40.00 and gave the company a hold rating in a report on Wednesday, August 30th. Jefferies Group LLC lifted their target price on AeroVironment from $29.00 to $37.00 and gave the company a hold rating in a report on Wednesday, August 30th. Robert W. Baird reaffirmed a hold rating and set a $35.00 target price on shares of AeroVironment in a report on Monday, August 28th. Finally, Zacks Investment Research lowered AeroVironment from a strong-buy rating to a hold rating in a report on Wednesday, November 1st. Seven analysts have rated the stock with a hold rating, The stock presently has a consensus rating of Hold and an average target price of $39.00.

Shares of AeroVironment (NASDAQ:AVAV) traded down $0.83 on Wednesday, reaching $42.16. The company had a trading volume of 390,200 shares, compared to its average volume of 238,189. AeroVironment has a 52 week low of $24.70 and a 52 week high of $55.75. The stock has a market cap of $1,024.90, a price-to-earnings ratio of 51.18, a P/E/G ratio of 4.68 and a beta of 1.24.

AeroVironment (NASDAQ:AVAV) last announced its quarterly earnings data on Tuesday, August 29th. The aerospace company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.34) by $0.15. The company had revenue of $43.80 million during the quarter, compared to analyst estimates of $42.44 million. AeroVironment had a return on equity of 5.40% and a net margin of 7.22%. The firm’s revenue for the quarter was up 21.0% on a year-over-year basis. During the same quarter last year, the firm posted ($0.51) EPS. sell-side analysts expect that AeroVironment will post 0.61 EPS for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: This news story was originally reported by Markets Daily and is the property of of Markets Daily. If you are reading this news story on another website, it was illegally stolen and republished in violation of U.S. and international copyright and trademark legislation. The correct version of this news story can be read at https://www.themarketsdaily.com/2017/11/16/aerovironment-inc-avav-downgraded-by-valuengine-to-hold.html.

In other news, Chairman Timothy E. Conver sold 3,800 shares of AeroVironment stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $44.14, for a total transaction of $167,732.00. Following the completion of the sale, the chairman now owns 58,138 shares in the company, valued at approximately $2,566,211.32. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Timothy E. Conver sold 7,600 shares of AeroVironment stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $49.14, for a total value of $373,464.00. Following the sale, the chairman now owns 58,138 shares of the company’s stock, valued at approximately $2,856,901.32. The disclosure for this sale can be found here. In the last quarter, insiders have sold 43,800 shares of company stock valued at $2,135,804. Corporate insiders own 11.00% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. PNC Financial Services Group Inc. boosted its position in shares of AeroVironment by 0.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,860 shares of the aerospace company’s stock valued at $136,000 after acquiring an additional 38 shares during the last quarter. Sei Investments Co. boosted its position in shares of AeroVironment by 1.8% during the 2nd quarter. Sei Investments Co. now owns 3,450 shares of the aerospace company’s stock valued at $132,000 after acquiring an additional 61 shares during the last quarter. Arizona State Retirement System boosted its position in shares of AeroVironment by 0.9% during the 2nd quarter. Arizona State Retirement System now owns 10,798 shares of the aerospace company’s stock valued at $412,000 after acquiring an additional 100 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its position in shares of AeroVironment by 3.2% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 4,850 shares of the aerospace company’s stock valued at $185,000 after acquiring an additional 150 shares during the last quarter. Finally, Prudential Financial Inc. boosted its position in shares of AeroVironment by 0.4% during the 1st quarter. Prudential Financial Inc. now owns 35,350 shares of the aerospace company’s stock valued at $991,000 after acquiring an additional 154 shares during the last quarter. Hedge funds and other institutional investors own 76.99% 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, businesses and consumers. The Company operates through two segments: Unmanned Aircraft Systems (UAS), which focuses primarily on the design, development, production, support and operation of UAS and tactical missile systems that provide situational awareness, multi-band communications, force protection and other mission effects, and Efficient Energy Systems (EES), which focuses primarily on the design, development, production, marketing, support and operation of electric energy systems.

Receive News & Ratings for AeroVironment Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AeroVironment Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply