AeroVironment (NASDAQ:AVAV) Given a $80.00 Price Target at Canaccord Genuity

Canaccord Genuity set a $80.00 price objective on AeroVironment (NASDAQ:AVAV) in a report issued on Thursday morning, TipRanks reports. The brokerage currently has a buy rating on the aerospace company’s stock.

A number of other analysts also recently weighed in on AVAV. Robert W. Baird reissued a neutral rating and set a $65.00 price target (down previously from $83.00) on shares of AeroVironment in a research report on Wednesday, June 26th. William Blair reissued a buy rating on shares of AeroVironment in a research report on Wednesday, August 21st. BidaskClub raised shares of AeroVironment from a sell rating to a hold rating in a research report on Thursday, September 12th. ValuEngine downgraded shares of AeroVironment from a buy rating to a hold rating in a research report on Monday, June 17th. Finally, Piper Jaffray Companies decreased their price target on shares of AeroVironment from $79.00 to $74.00 and set a neutral rating for the company in a research report on Tuesday, June 4th. Six equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $71.32.

Shares of AVAV stock traded up $0.28 during mid-day trading on Thursday, reaching $53.56. 147,762 shares of the company were exchanged, compared to its average volume of 241,903. AeroVironment has a fifty-two week low of $48.61 and a fifty-two week high of $113.63. The company has a debt-to-equity ratio of 0.02, a quick ratio of 9.26 and a current ratio of 10.56. The company has a market capitalization of $1.27 billion, a P/E ratio of 36.19 and a beta of 1.14. The business’s 50 day simple moving average is $54.99 and its 200 day simple moving average is $61.56.

AeroVironment (NASDAQ:AVAV) last released its quarterly earnings results on Wednesday, September 4th. The aerospace company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.39. AeroVironment had a net margin of 11.52% and a return on equity of 8.55%. The business had revenue of $86.91 million during the quarter, compared to the consensus estimate of $85.25 million. On average, analysts forecast that AeroVironment will post 1.65 EPS for the current year.

In other AeroVironment news, Chairman Timothy E. Conver sold 6,896 shares of AeroVironment stock in a transaction on Monday, September 16th. The shares were sold at an average price of $63.10, for a total value of $435,137.60. Following the completion of the transaction, the chairman now owns 56,660 shares of the company’s stock, valued at $3,575,246. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Timothy E. Conver sold 13,792 shares of AeroVironment stock in a transaction on Friday, July 26th. The stock was sold at an average price of $54.45, for a total transaction of $750,974.40. Following the completion of the transaction, the chairman now directly owns 56,660 shares of the company’s stock, valued at approximately $3,085,137. The disclosure for this sale can be found here. In the last ninety days, insiders sold 62,064 shares of company stock valued at $3,405,521. 10.50% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in AVAV. Arizona State Retirement System boosted its holdings in shares of AeroVironment by 0.6% during the second quarter. Arizona State Retirement System now owns 33,040 shares of the aerospace company’s stock valued at $1,876,000 after acquiring an additional 188 shares during the period. Mason Street Advisors LLC boosted its holdings in shares of AeroVironment by 3.4% during the first quarter. Mason Street Advisors LLC now owns 6,839 shares of the aerospace company’s stock valued at $468,000 after acquiring an additional 226 shares during the period. UBS Asset Management Americas Inc. boosted its holdings in shares of AeroVironment by 1.4% during the second quarter. UBS Asset Management Americas Inc. now owns 16,197 shares of the aerospace company’s stock valued at $920,000 after acquiring an additional 226 shares during the period. Royal Bank of Canada boosted its holdings in shares of AeroVironment by 4.7% during the second quarter. Royal Bank of Canada now owns 5,935 shares of the aerospace company’s stock valued at $337,000 after acquiring an additional 264 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of AeroVironment by 2.8% during the second quarter. Price T Rowe Associates Inc. MD now owns 13,204 shares of the aerospace company’s stock valued at $750,000 after acquiring an additional 358 shares during the period. 83.33% of the stock is owned by hedge funds and other institutional investors.

About AeroVironment

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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Analyst Recommendations for AeroVironment (NASDAQ:AVAV)

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