AeroVironment’s (AVAV) “Buy” Rating Reiterated at William Blair

William Blair reiterated their buy rating on shares of AeroVironment (NASDAQ:AVAV) in a report published on Monday morning, Stock Target Advisor reports.

A number of other brokerages have also commented on AVAV. Robert W. Baird reaffirmed a neutral rating and issued a $65.00 price target (down previously from $83.00) on shares of AeroVironment in a research note on Wednesday, June 26th. ValuEngine raised United Overseas Bank from a sell rating to a hold rating in a research note on Monday, June 17th. Piper Jaffray Companies raised their price target on Mirati Therapeutics from $85.00 to $125.00 and gave the stock an overweight rating in a research note on Tuesday, June 4th. Zacks Investment Research raised Focus Financial Partners from a hold rating to a buy rating and set a $31.00 price target for the company in a research note on Monday, June 24th. Finally, TheStreet lowered Stamps.com from a b- rating to a c+ rating in a research report on Monday, March 11th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of Hold and an average target price of $74.32.

Shares of NASDAQ:AVAV traded up $0.32 during trading on Monday, reaching $55.37. 188,591 shares of the company traded hands, compared to its average volume of 257,771. The stock has a market capitalization of $1.37 billion, a price-to-earnings ratio of 37.41, a price-to-earnings-growth ratio of 1.47 and a beta of 1.12. AeroVironment has a 52-week low of $53.90 and a 52-week high of $121.32. The firm’s fifty day simple moving average is $61.93.

AeroVironment (NASDAQ:AVAV) last announced its quarterly earnings results on Tuesday, June 25th. The aerospace company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.01. AeroVironment had a return on equity of 7.93% and a net margin of 15.09%. The company had revenue of $87.90 million during the quarter, compared to analyst estimates of $82.57 million. During the same quarter last year, the firm posted $0.85 earnings per share. The firm’s revenue was down 25.1% on a year-over-year basis. As a group, equities analysts expect that AeroVironment will post 1.53 earnings per share for the current fiscal year.

In other news, Chairman Timothy E. Conver sold 13,792 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $67.70, for a total transaction of $933,718.40. Following the completion of the transaction, the chairman now directly owns 55,659 shares in the company, valued at $3,768,114.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Timothy E. Conver sold 15,987 shares of the firm’s stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $65.80, for a total value of $1,051,944.60. Following the transaction, the chairman now owns 55,659 shares of the company’s stock, valued at $3,662,362.20. The disclosure for this sale can be found here. Insiders have sold 78,351 shares of company stock valued at $5,077,505 in the last three months. Insiders own 11.70% of the company’s stock.

Several large investors have recently modified their holdings of the company. BlackRock Inc. increased its holdings in shares of AeroVironment by 4.4% during the fourth quarter. BlackRock Inc. now owns 3,852,473 shares of the aerospace company’s stock valued at $261,777,000 after acquiring an additional 164,034 shares in the last quarter. American Capital Management Inc. increased its holdings in shares of AeroVironment by 1.2% during the first quarter. American Capital Management Inc. now owns 1,480,491 shares of the aerospace company’s stock valued at $101,280,000 after acquiring an additional 17,320 shares in the last quarter. Baillie Gifford & Co. increased its holdings in shares of AeroVironment by 3.6% during the first quarter. Baillie Gifford & Co. now owns 786,429 shares of the aerospace company’s stock valued at $53,800,000 after acquiring an additional 27,491 shares in the last quarter. Nikko Asset Management Americas Inc. increased its holdings in shares of AeroVironment by 12.6% during the first quarter. Nikko Asset Management Americas Inc. now owns 376,601 shares of the aerospace company’s stock valued at $25,763,000 after acquiring an additional 42,176 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of AeroVironment by 12.6% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 376,424 shares of the aerospace company’s stock valued at $25,751,000 after acquiring an additional 41,999 shares in the last quarter. Hedge funds and other institutional investors own 82.71% of the company’s stock.

About AeroVironment

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.

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Analyst Recommendations for AeroVironment (NASDAQ:AVAV)

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