Zacks Investment Research upgraded shares of AeroVironment (NASDAQ:AVAV) from a hold rating to a strong-buy rating in a research report report published on Thursday morning. The firm currently has $77.00 target price on the aerospace company’s stock.
According to Zacks, “AeroVironment, Inc. designs, develops, produces, operates a portfolio of products and services for government agencies, businesses and consumers. It operates through two segments: Unmanned Aircraft Systems, which focuses primarily on the design, development, production, support and operation of UAS and tactical missile systems that provide situational awareness, multi-band communications, force protection and other mission effects, and Efficient Energy Systems, which focuses primarily on the design, development, production, support and operation of electric energy systems. The Company supplies UAS, tactical missile systems and related services primarily to organizations within the United States Department of Defense. The Company also supplies charging systems and services for electric vehicles, and power cycling and test systems to commercial, consumer and government customers. It serves the U.S. Department of Defense, including the U.S. Army, Marine Corps, Special Operations Command, Air Force, and Navy. “
A number of other research firms have also recently commented on AVAV. Stifel Nicolaus cut AeroVironment from a buy rating to a hold rating and boosted their price target for the stock from $65.00 to $70.00 in a report on Thursday. Drexel Hamilton reissued a hold rating on shares of AeroVironment in a report on Wednesday. BidaskClub raised AeroVironment from a sell rating to a hold rating in a report on Wednesday, May 9th. Robert W. Baird boosted their price target on AeroVironment from $50.00 to $52.00 and gave the stock a neutral rating in a report on Wednesday, June 6th. Finally, ValuEngine raised AeroVironment from a buy rating to a strong-buy rating in a report on Wednesday, May 2nd. Eight research analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $53.67.
Shares of AeroVironment stock traded up $2.64 during trading on Thursday, reaching $71.43. 1,533,300 shares of the company’s stock were exchanged, compared to its average volume of 365,033. AeroVironment has a 1-year low of $36.41 and a 1-year high of $73.63. The stock has a market capitalization of $1.59 billion, a P/E ratio of 66.14, a price-to-earnings-growth ratio of 3.66 and a beta of 1.21.
AeroVironment (NASDAQ:AVAV) last posted its quarterly earnings results on Tuesday, June 26th. The aerospace company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.33. AeroVironment had a return on equity of 6.37% and a net margin of 6.71%. The company had revenue of $117.38 million during the quarter, compared to analysts’ expectations of $116.16 million. During the same quarter in the previous year, the firm earned $1.30 EPS. AeroVironment’s revenue was up 1.4% on a year-over-year basis. research analysts anticipate that AeroVironment will post 0.91 earnings per share for the current year.
Institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. increased its holdings in AeroVironment by 3.0% in the 4th quarter. BlackRock Inc. now owns 3,528,072 shares of the aerospace company’s stock worth $198,137,000 after purchasing an additional 102,401 shares in the last quarter. Teachers Advisors LLC increased its holdings in AeroVironment by 2.7% in the 4th quarter. Teachers Advisors LLC now owns 38,926 shares of the aerospace company’s stock worth $2,186,000 after purchasing an additional 1,040 shares in the last quarter. WINTON GROUP Ltd increased its holdings in AeroVironment by 136.6% in the 4th quarter. WINTON GROUP Ltd now owns 102,615 shares of the aerospace company’s stock worth $5,763,000 after purchasing an additional 59,250 shares in the last quarter. Lazard Asset Management LLC acquired a new position in AeroVironment in the 4th quarter worth about $1,172,000. Finally, Deutsche Bank AG increased its holdings in AeroVironment by 175.0% in the 4th quarter. Deutsche Bank AG now owns 54,526 shares of the aerospace company’s stock worth $3,061,000 after purchasing an additional 34,695 shares in the last quarter. 79.14% of the stock is owned by institutional investors and hedge funds.
AeroVironment, Inc designs, develops, produces, supports, and operates unmanned aircraft systems (UAS) and efficient energy systems (EES) in the United States and internationally. The company offers small UAS products to deliver intelligence, surveillance, and reconnaissance; and communications, such as real-time tactical reconnaissance, tracking, combat assessment, and geographic data to the small tactical unit or individual operator.
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