AeroVironment (NASDAQ:AVAV) Reaches New 12-Month High at $80.00

AeroVironment, Inc. (NASDAQ:AVAV)’s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $80.00 and last traded at $78.67, with a volume of 3826 shares. The stock had previously closed at $77.02.

Several research analysts have issued reports on AVAV shares. Zacks Investment Research lowered shares of AeroVironment from a “buy” rating to a “hold” rating in a research report on Wednesday, May 6th. Piper Sandler lifted their price target on shares of AeroVironment from $76.00 to $93.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 24th. Canaccord Genuity lifted their price target on shares of AeroVironment from $75.00 to $84.00 and gave the stock a “buy” rating in a research report on Wednesday, June 24th. Stifel Nicolaus upgraded shares of AeroVironment from a “hold” rating to a “buy” rating and lifted their price target for the stock from $55.00 to $90.00 in a research report on Thursday, June 25th. Finally, Robert W. Baird lifted their price target on shares of AeroVironment from $71.00 to $86.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 24th. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. AeroVironment presently has an average rating of “Buy” and a consensus price target of $82.67.

The company has a current ratio of 7.56, a quick ratio of 6.48 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $1.85 billion, a PE ratio of 46.84, a PEG ratio of 1.65 and a beta of 0.72. The firm’s 50-day simple moving average is $69.32 and its two-hundred day simple moving average is $63.35.

AeroVironment (NASDAQ:AVAV) last issued its earnings results on Tuesday, June 23rd. The aerospace company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.06. The company had revenue of $135.22 million during the quarter, compared to analyst estimates of $123.44 million. AeroVironment had a net margin of 11.18% and a return on equity of 9.02%. The company’s revenue for the quarter was up 53.8% on a year-over-year basis. During the same quarter last year, the business posted $0.26 EPS. As a group, research analysts expect that AeroVironment, Inc. will post 1.87 earnings per share for the current year.

Several large investors have recently modified their holdings of the business. American Capital Management Inc. boosted its stake in shares of AeroVironment by 0.4% during the 4th quarter. American Capital Management Inc. now owns 1,602,542 shares of the aerospace company’s stock valued at $98,941,000 after buying an additional 6,217 shares during the period. State Street Corp lifted its stake in shares of AeroVironment by 3.6% in the 1st quarter. State Street Corp now owns 1,249,201 shares of the aerospace company’s stock valued at $76,151,000 after purchasing an additional 43,710 shares during the last quarter. Baillie Gifford & Co. lifted its stake in shares of AeroVironment by 1.1% in the 1st quarter. Baillie Gifford & Co. now owns 826,330 shares of the aerospace company’s stock valued at $50,373,000 after purchasing an additional 8,635 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of AeroVironment by 8.4% in the 1st quarter. Bank of New York Mellon Corp now owns 511,642 shares of the aerospace company’s stock valued at $31,190,000 after purchasing an additional 39,682 shares during the last quarter. Finally, Lord Abbett & CO. LLC lifted its stake in shares of AeroVironment by 88.4% in the 1st quarter. Lord Abbett & CO. LLC now owns 365,584 shares of the aerospace company’s stock valued at $22,286,000 after purchasing an additional 171,490 shares during the last quarter. 83.51% of the stock is owned by institutional investors.

About AeroVironment (NASDAQ:AVAV)

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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