The Goldman Sachs Group Begins Coverage on AeroVironment (NASDAQ:AVAV)

The Goldman Sachs Group began coverage on shares of AeroVironment (NASDAQ:AVAV) in a research report report published on Monday, MarketBeat Ratings reports. The brokerage issued a buy rating and a $301.00 price target on the aerospace company’s stock.

Other equities research analysts also recently issued reports about the stock. Robert W. Baird lifted their price target on shares of AeroVironment from $146.00 to $210.00 and gave the stock an “outperform” rating in a report on Friday, June 6th. BTIG Research lifted their target price on shares of AeroVironment from $225.00 to $300.00 and gave the stock a “buy” rating in a research note on Tuesday, June 24th. Royal Bank Of Canada reissued an “outperform” rating and set a $190.00 price target on shares of AeroVironment in a research note on Monday, May 12th. Canaccord Genuity Group restated a “buy” rating on shares of AeroVironment in a report on Thursday, June 26th. Finally, Wall Street Zen upgraded AeroVironment from a “sell” rating to a “hold” rating in a research note on Sunday, June 22nd. One analyst has rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $245.88.

AeroVironment Stock Down 2.4%

Shares of NASDAQ AVAV opened at $246.25 on Monday. The stock has a market capitalization of $6.95 billion, a price-to-earnings ratio of 158.87 and a beta of 0.96. AeroVironment has a 52 week low of $102.25 and a 52 week high of $295.90. The firm has a 50-day moving average price of $184.02 and a 200 day moving average price of $162.34. The company has a quick ratio of 2.69, a current ratio of 3.52 and a debt-to-equity ratio of 0.03.

AeroVironment (NASDAQ:AVAV) last released its quarterly earnings data on Tuesday, June 24th. The aerospace company reported $1.61 EPS for the quarter, topping the consensus estimate of $1.41 by $0.20. The business had revenue of $275.05 million for the quarter, compared to analyst estimates of $242.69 million. AeroVironment had a net margin of 5.32% and a return on equity of 10.68%. The business’s revenue for the quarter was up 39.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.43 EPS. Equities research analysts anticipate that AeroVironment will post 3.38 EPS for the current fiscal year.

Hedge Funds Weigh In On AeroVironment

A number of institutional investors have recently added to or reduced their stakes in the company. CoreCap Advisors LLC lifted its stake in shares of AeroVironment by 120.2% in the fourth quarter. CoreCap Advisors LLC now owns 185 shares of the aerospace company’s stock worth $28,000 after acquiring an additional 101 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its position in shares of AeroVironment by 171.1% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 244 shares of the aerospace company’s stock worth $29,000 after buying an additional 154 shares in the last quarter. Colonial Trust Advisors acquired a new stake in shares of AeroVironment during the fourth quarter worth approximately $31,000. Accredited Wealth Management LLC bought a new stake in shares of AeroVironment in the fourth quarter worth $31,000. Finally, Spirit of America Management Corp NY acquired a new stake in AeroVironment in the first quarter valued at $36,000. 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.