AeroVironment’s (AVAV) Buy Rating Reiterated at BTIG Research

BTIG Research reaffirmed their buy rating on shares of AeroVironment (NASDAQ:AVAV) in a research note issued to investors on Monday,Benzinga reports. BTIG Research currently has a $415.00 price objective on the aerospace company’s stock.

A number of other research firms have also commented on AVAV. JMP Securities upped their price target on AeroVironment from $325.00 to $400.00 and gave the company a “market outperform” rating in a research report on Friday, October 3rd. Robert W. Baird lifted their price objective on AeroVironment from $267.00 to $350.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 1st. Piper Sandler initiated coverage on shares of AeroVironment in a research report on Thursday, November 20th. They set an “overweight” rating and a $391.00 target price for the company. Raymond James Financial increased their price target on AeroVironment from $300.00 to $348.00 and gave the stock a “strong-buy” rating in a report on Monday, September 29th. Finally, BNP Paribas Exane started coverage on AeroVironment in a research report on Tuesday, November 18th. They issued an “outperform” rating and a $355.00 price objective for the company. Three analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $358.19.

AeroVironment Trading Up 0.3%

Shares of NASDAQ AVAV opened at $279.19 on Monday. The firm has a 50 day moving average price of $338.38 and a two-hundred day moving average price of $266.48. The stock has a market cap of $13.94 billion, a P/E ratio of -436.23, a price-to-earnings-growth ratio of 5.37 and a beta of 1.09. AeroVironment has a 52-week low of $102.25 and a 52-week high of $417.86. The company has a debt-to-equity ratio of 0.16, a quick ratio of 5.12 and a current ratio of 5.96.

AeroVironment (NASDAQ:AVAV) last issued its quarterly earnings results on Monday, August 28th. The aerospace company reported $0.12 EPS for the quarter. AeroVironment had a negative net margin of 4.14% and a positive return on equity of 4.67%. The company had revenue of $132.62 million for the quarter. As a group, equities analysts forecast that AeroVironment will post 3.38 EPS for the current year.

Insider Activity

In related news, insider Trace E. Stevenson sold 1,717 shares of the business’s stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $381.00, for a total value of $654,177.00. Following the completion of the sale, the insider directly owned 4,907 shares of the company’s stock, valued at $1,869,567. The trade was a 25.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Kevin Patrick Mcdonnell sold 513 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $331.46, for a total value of $170,038.98. Following the transaction, the chief financial officer directly owned 18,811 shares in the company, valued at approximately $6,235,094.06. This trade represents a 2.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 3,228 shares of company stock valued at $1,223,157. 0.81% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On AeroVironment

A number of large investors have recently modified their holdings of the company. US Bancorp DE increased its stake in AeroVironment by 13.5% in the 2nd quarter. US Bancorp DE now owns 8,068 shares of the aerospace company’s stock valued at $2,299,000 after buying an additional 961 shares during the last quarter. Wedbush Securities Inc. bought a new stake in shares of AeroVironment during the 2nd quarter worth $273,000. Twin Tree Management LP bought a new position in AeroVironment during the second quarter valued at about $697,000. Semanteon Capital Management LP purchased a new stake in AeroVironment during the second quarter worth about $874,000. Finally, Emerald Mutual Fund Advisers Trust raised its position in AeroVironment by 8.2% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 141,826 shares of the aerospace company’s stock worth $40,413,000 after acquiring an additional 10,750 shares during the period. 86.38% of the stock is currently owned by institutional investors.

About AeroVironment

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.