AeroVironment (NASDAQ:AVAV) Hits New 12-Month High – Here’s What Happened

AeroVironment, Inc. (NASDAQ:AVAV)’s stock price reached a new 52-week high on Thursday . The company traded as high as $250.00 and last traded at $234.94, with a volume of 6336975 shares changing hands. The stock had previously closed at $193.28.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Jefferies Financial Group cut their target price on AeroVironment from $230.00 to $190.00 and set a “buy” rating for the company in a research report on Wednesday, March 5th. Robert W. Baird upped their target price on AeroVironment from $146.00 to $210.00 and gave the company an “outperform” rating in a research report on Friday, June 6th. Royal Bank Of Canada reiterated an “outperform” rating and set a $190.00 target price on shares of AeroVironment in a research report on Monday, May 12th. Wall Street Zen upgraded AeroVironment from a “sell” rating to a “hold” rating in a research report on Sunday, June 22nd. Finally, Raymond James Financial set a $225.00 target price on AeroVironment and gave the company a “strong-buy” rating in a research report on Wednesday. One analyst has rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, AeroVironment has an average rating of “Buy” and an average price target of $224.43.

AeroVironment Trading Up 2.1%

The company has a current ratio of 3.52, a quick ratio of 3.07 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $7.85 billion, a P/E ratio of 179.40 and a beta of 0.81. The firm has a 50-day moving average of $177.16 and a two-hundred day moving average of $160.14.

AeroVironment (NASDAQ:AVAV) last announced its quarterly earnings data on Tuesday, June 24th. The aerospace company reported $1.61 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.20. AeroVironment had a return on equity of 10.68% and a net margin of 5.32%. The business had revenue of $275.05 million during the quarter, compared to the consensus estimate of $242.69 million. During the same period in the prior year, the company earned $0.43 EPS. AeroVironment’s revenue for the quarter was up 39.6% on a year-over-year basis. On average, analysts anticipate that AeroVironment, Inc. will post 3.38 EPS for the current year.

Hedge Funds Weigh In On AeroVironment

A number of institutional investors and hedge funds have recently bought and sold shares of AVAV. Alyeska Investment Group L.P. acquired a new position in AeroVironment in the 4th quarter worth about $93,759,000. Ameriprise Financial Inc. increased its holdings in AeroVironment by 281.6% in the 1st quarter. Ameriprise Financial Inc. now owns 430,307 shares of the aerospace company’s stock worth $51,288,000 after purchasing an additional 317,530 shares in the last quarter. Raymond James Financial Inc. acquired a new position in AeroVironment in the 4th quarter worth about $46,789,000. Norges Bank acquired a new position in AeroVironment in the 4th quarter worth about $37,502,000. Finally, Stephens Investment Management Group LLC increased its holdings in AeroVironment by 41.0% in the 1st quarter. Stephens Investment Management Group LLC now owns 763,489 shares of the aerospace company’s stock worth $91,000,000 after purchasing an additional 221,948 shares in the last quarter. Institutional investors and hedge funds own 86.38% of the company’s stock.

AeroVironment Company Profile

AeroVironment, Inc designs, develops, produces, delivers, and supports a portfolio of robotic systems and related services for government agencies and businesses in the United States and internationally. It operates through Small Unmanned Aircraft Systems (SUAS), Tactical Missile System (TMS), Medium Unmanned Aircraft Systems (MUAS), and High Altitude Pseudo-Satellite Systems (HAPS) segments.