AeroVironment (NASDAQ:AVAV) Downgraded by Raymond James

Raymond James cut shares of AeroVironment (NASDAQ:AVAV) from an outperform rating to a market perform rating in a research report released on Monday morning, Marketbeat reports.

A number of other equities research analysts have also issued reports on AVAV. Robert W. Baird upgraded AeroVironment from a neutral rating to an outperform rating and upped their price target for the company from $161.00 to $220.00 in a research report on Wednesday, August 28th. Baird R W upgraded AeroVironment from a hold rating to a strong-buy rating in a report on Wednesday, August 28th. Alembic Global Advisors upgraded AeroVironment from a neutral rating to an overweight rating and set a $216.00 price target on the stock in a report on Wednesday, August 28th. BTIG Research initiated coverage on shares of AeroVironment in a report on Wednesday, June 26th. They issued a buy rating and a $255.00 price objective for the company. Finally, Royal Bank of Canada cut their price objective on shares of AeroVironment from $230.00 to $215.00 and set an outperform rating for the company in a research report on Thursday, September 5th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $208.20.

AeroVironment Trading Down 0.3 %

Shares of NASDAQ:AVAV opened at $174.44 on Monday. The business’s 50-day moving average is $179.52 and its 200 day moving average is $176.22. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.26 and a quick ratio of 3.04. AeroVironment has a 1 year low of $104.67 and a 1 year high of $224.00. The firm has a market capitalization of $4.91 billion, a P/E ratio of 79.20 and a beta of 0.50.

AeroVironment (NASDAQ:AVAV) last posted its quarterly earnings data on Wednesday, September 4th. The aerospace company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.28. The firm had revenue of $189.48 million for the quarter, compared to the consensus estimate of $183.18 million. AeroVironment had a net margin of 7.82% and a return on equity of 9.87%. The company’s revenue for the quarter was up 24.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.00 earnings per share. On average, research analysts predict that AeroVironment will post 3.4 earnings per share for the current fiscal year.

Insider Buying and Selling

In other AeroVironment news, CFO Kevin Patrick Mcdonnell sold 396 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $196.22, for a total value of $77,703.12. Following the transaction, the chief financial officer now owns 18,254 shares of the company’s stock, valued at $3,581,799.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Wahid Nawabi sold 9,867 shares of AeroVironment stock in a transaction on Friday, July 5th. The stock was sold at an average price of $169.23, for a total value of $1,669,792.41. Following the completion of the sale, the chief executive officer now directly owns 99,892 shares of the company’s stock, valued at $16,904,723.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Kevin Patrick Mcdonnell sold 396 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $196.22, for a total value of $77,703.12. Following the transaction, the chief financial officer now directly owns 18,254 shares in the company, valued at approximately $3,581,799.88. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,287 shares of company stock valued at $1,928,305. 1.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On AeroVironment

Several institutional investors have recently bought and sold shares of the company. NBC Securities Inc. purchased a new position in shares of AeroVironment in the first quarter valued at approximately $26,000. Canada Pension Plan Investment Board purchased a new position in AeroVironment in the 2nd quarter valued at approximately $36,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of AeroVironment during the first quarter worth $38,000. Russell Investments Group Ltd. purchased a new stake in shares of AeroVironment during the fourth quarter worth $39,000. Finally, Register Financial Advisors LLC acquired a new stake in shares of AeroVironment in the first quarter valued at $61,000. 86.38% of the stock is owned by institutional investors and hedge funds.

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.