AeroVironment, Inc. (AVAV) Upgraded at ValuEngine

ValuEngine upgraded shares of AeroVironment, Inc. (NASDAQ:AVAV) from a sell rating to a hold rating in a report published on Friday morning.

Other equities research analysts have also recently issued reports about the company. Jefferies Group LLC reissued a hold rating and issued a $27.00 target price on shares of AeroVironment in a research note on Tuesday, April 18th. Canaccord Genuity reissued a hold rating and issued a $29.00 target price on shares of AeroVironment in a research note on Friday, April 7th. Finally, Zacks Investment Research raised AeroVironment from a sell rating to a hold rating in a research note on Wednesday, March 8th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $29.00.

AeroVironment (NASDAQ:AVAV) traded up 0.55% on Friday, hitting $30.95. 21,410 shares of the stock traded hands. AeroVironment has a 1-year low of $22.16 and a 1-year high of $32.65. The stock has a 50-day moving average price of $30.08 and a 200 day moving average price of $27.89. The company’s market cap is $714.39 million.

AeroVironment (NASDAQ:AVAV) last released its earnings results on Tuesday, March 7th. The aerospace company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.25. AeroVironment had a negative return on equity of 1.21% and a negative net margin of 1.80%. The firm had revenue of $53.20 million for the quarter, compared to analysts’ expectations of $50.66 million. During the same period in the prior year, the firm posted $0.27 earnings per share. The company’s quarterly revenue was down 21.3% on a year-over-year basis. On average, analysts anticipate that AeroVironment will post $0.21 EPS for the current fiscal year.

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In other AeroVironment news, Chairman Timothy E. Conver sold 87,577 shares of the firm’s stock in a transaction dated Monday, April 10th. The stock was sold at an average price of $27.53, for a total value of $2,410,994.81. Following the transaction, the chairman now directly owns 88,276 shares of the company’s stock, valued at $2,430,238.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Kirk J. Flittie sold 11,212 shares of the firm’s stock in a transaction dated Monday, March 20th. The stock was sold at an average price of $29.03, for a total value of $325,484.36. Following the completion of the transaction, the vice president now directly owns 29,462 shares in the company, valued at $855,281.86. The disclosure for this sale can be found here. Insiders sold 131,839 shares of company stock worth $3,720,755 over the last three months. Insiders own 12.50% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in AVAV. Municipal Employees Retirement System of Michigan boosted its position in shares of AeroVironment by 1.6% in the third quarter. Municipal Employees Retirement System of Michigan now owns 4,550 shares of the aerospace company’s stock valued at $111,000 after buying an additional 70 shares during the last quarter. Mason Street Advisors LLC boosted its position in shares of AeroVironment by 7.0% in the first quarter. Mason Street Advisors LLC now owns 4,813 shares of the aerospace company’s stock valued at $135,000 after buying an additional 316 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of AeroVironment by 0.8% in the first quarter. PNC Financial Services Group Inc. now owns 4,860 shares of the aerospace company’s stock valued at $136,000 after buying an additional 38 shares during the last quarter. AQR Capital Management LLC purchased a new position in shares of AeroVironment during the fourth quarter valued at about $208,000. Finally, Eqis Capital Management Inc. bought a new position in AeroVironment during the first quarter valued at approximately $211,000. 72.97% of the stock is currently owned by institutional investors and hedge funds.

About AeroVironment

AeroVironment, Inc designs, develops, produces, supports and operates a portfolio of products and services for government agencies, businesses and consumers. The Company operates through two segments: Unmanned Aircraft Systems (UAS), 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 (EES), which focuses primarily on the design, development, production, marketing, support and operation of electric energy systems.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:AVAV”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

To view ValuEngine’s full report, visit ValuEngine’s official website.

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