AeroVironment (NASDAQ:AVAV) Rating Reiterated by Robert W. Baird

Robert W. Baird restated their neutral rating on shares of AeroVironment (NASDAQ:AVAV) in a research note issued to investors on Wednesday, June 26th, The Fly reports. They currently have a $65.00 price objective on the aerospace company’s stock, down from their prior price objective of $83.00.

Several other brokerages also recently weighed in on AVAV. Canaccord Genuity reduced their target price on AeroVironment from $86.00 to $80.00 and set an in-line rating for the company in a research note on Wednesday, June 26th. BidaskClub raised Zynerba Pharmaceuticals from a hold rating to a buy rating in a research note on Thursday, June 20th. TheStreet downgraded Stamps.com from a b- rating to a c+ rating in a research note on Monday, March 11th. Zacks Investment Research raised Focus Financial Partners from a hold rating to a buy rating and set a $31.00 price objective for the company in a research note on Monday, June 24th. Finally, Piper Jaffray Companies increased their price objective on Mirati Therapeutics from $85.00 to $125.00 and gave the company an overweight rating in a research note on Tuesday, June 4th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. The stock has an average rating of Hold and an average target price of $74.32.

AeroVironment stock traded down $0.42 during trading hours on Wednesday, reaching $53.95. The stock had a trading volume of 180,559 shares, compared to its average volume of 254,521. The stock has a 50 day moving average of $60.34. The company has a market capitalization of $1.30 billion, a P/E ratio of 36.45, a price-to-earnings-growth ratio of 1.45 and a beta of 1.11. AeroVironment has a 52 week low of $53.10 and a 52 week high of $121.32.

AeroVironment (NASDAQ:AVAV) last released its quarterly earnings data on Tuesday, June 25th. The aerospace company reported $0.26 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.01. AeroVironment had a return on equity of 7.93% and a net margin of 15.09%. The business had revenue of $87.90 million for the quarter, compared to analyst estimates of $82.57 million. During the same quarter in the prior year, the firm posted $0.85 EPS. The business’s quarterly revenue was down 25.1% compared to the same quarter last year. Research analysts predict that AeroVironment will post 1.53 EPS for the current year.

In related news, Chairman Timothy E. Conver sold 14,092 shares of the firm’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $66.04, for a total transaction of $930,635.68. Following the completion of the transaction, the chairman now directly owns 55,659 shares in the company, valued at approximately $3,675,720.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Timothy E. Conver sold 13,792 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $67.70, for a total value of $933,718.40. Following the transaction, the chairman now owns 55,659 shares of the company’s stock, valued at $3,768,114.30. The disclosure for this sale can be found here. Insiders sold a total of 76,156 shares of company stock valued at $4,787,431 over the last ninety days. Corporate insiders own 11.70% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. raised its position in AeroVironment by 4.4% in the 4th quarter. BlackRock Inc. now owns 3,852,473 shares of the aerospace company’s stock valued at $261,777,000 after purchasing an additional 164,034 shares in the last quarter. American Capital Management Inc. raised its position in AeroVironment by 1.2% in the 1st quarter. American Capital Management Inc. now owns 1,480,491 shares of the aerospace company’s stock valued at $101,280,000 after purchasing an additional 17,320 shares in the last quarter. Baillie Gifford & Co. raised its position in AeroVironment by 3.6% in the 1st quarter. Baillie Gifford & Co. now owns 786,429 shares of the aerospace company’s stock valued at $53,800,000 after purchasing an additional 27,491 shares in the last quarter. Nikko Asset Management Americas Inc. raised its position in AeroVironment by 12.6% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 376,601 shares of the aerospace company’s stock valued at $25,763,000 after purchasing an additional 42,176 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in AeroVironment by 12.6% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 376,424 shares of the aerospace company’s stock valued at $25,751,000 after purchasing an additional 41,999 shares in the last quarter. 82.66% of the stock is currently owned by institutional investors.

AeroVironment Company Profile

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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