AeroVironment (NASDAQ:AVAV) Upgraded by Piper Jaffray Companies to Overweight

Piper Jaffray Companies upgraded shares of AeroVironment (NASDAQ:AVAV) from a neutral rating to an overweight rating in a report released on Wednesday, 24/7 WallStreet reports. Piper Jaffray Companies currently has $76.00 price target on the aerospace company’s stock, up from their prior price target of $66.00.

A number of other brokerages also recently issued reports on AVAV. Zacks Investment Research upgraded AeroVironment from a hold rating to a strong-buy rating and set a $64.00 price objective for the company in a research report on Friday, September 6th. William Blair restated a buy rating on shares of AeroVironment in a research report on Wednesday, August 21st. BidaskClub upgraded AeroVironment from a sell rating to a hold rating in a research report on Thursday, September 12th. Stifel Nicolaus reiterated a hold rating on shares of AeroVironment in a report on Thursday, September 26th. Finally, Robert W. Baird reiterated a neutral rating and issued a $65.00 target price (down from $83.00) on shares of AeroVironment in a report on Wednesday, June 26th. Five research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $71.72.

Shares of AVAV opened at $57.84 on Wednesday. AeroVironment has a 1 year low of $48.61 and a 1 year high of $103.46. The company has a debt-to-equity ratio of 0.02, a current ratio of 10.56 and a quick ratio of 9.26. The company has a market capitalization of $1.41 billion, a price-to-earnings ratio of 35.74 and a beta of 1.13. The business has a 50-day moving average of $56.37 and a 200-day moving average of $59.85.

AeroVironment (NASDAQ:AVAV) last issued its quarterly earnings data on Wednesday, September 4th. The aerospace company reported $0.74 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.39. AeroVironment had a return on equity of 8.55% and a net margin of 11.52%. The company had revenue of $86.91 million during the quarter, compared to the consensus estimate of $85.25 million. As a group, sell-side analysts anticipate that AeroVironment will post 1.65 EPS for the current year.

In other AeroVironment news, Chairman Timothy E. Conver sold 13,792 shares of AeroVironment stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $54.45, for a total value of $750,974.40. Following the completion of the sale, the chairman now directly owns 56,660 shares in the company, valued at $3,085,137. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Timothy E. Conver sold 6,896 shares of AeroVironment stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $55.37, for a total value of $381,831.52. Following the completion of the sale, the chairman now owns 56,660 shares of the company’s stock, valued at $3,137,264.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 62,064 shares of company stock valued at $3,397,728. 10.50% of the stock is currently owned by corporate insiders.

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in AeroVironment by 5.1% in the second quarter. Vanguard Group Inc. now owns 3,222,367 shares of the aerospace company’s stock valued at $182,934,000 after acquiring an additional 156,031 shares during the period. Nikko Asset Management Americas Inc. grew its stake in AeroVironment by 21.1% in the second quarter. Nikko Asset Management Americas Inc. now owns 455,880 shares of the aerospace company’s stock valued at $25,880,000 after acquiring an additional 79,279 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its stake in AeroVironment by 21.1% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 455,880 shares of the aerospace company’s stock valued at $25,880,000 after acquiring an additional 79,456 shares during the period. Stephens Investment Management Group LLC grew its stake in AeroVironment by 17.9% in the third quarter. Stephens Investment Management Group LLC now owns 323,307 shares of the aerospace company’s stock valued at $17,316,000 after acquiring an additional 49,123 shares during the period. Finally, Renaissance Technologies LLC grew its stake in AeroVironment by 85.6% in the second quarter. Renaissance Technologies LLC now owns 296,336 shares of the aerospace company’s stock valued at $16,823,000 after acquiring an additional 136,700 shares during the period. Institutional investors and hedge funds own 83.42% 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.

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Analyst Recommendations for AeroVironment (NASDAQ:AVAV)

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