AeroVironment, Inc. (NASDAQ:AVAV) Chairman Timothy E. Conver sold 7,600 shares of the stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $38.49, for a total value of $292,524.00. Following the completion of the sale, the chairman now directly owns 58,138 shares of the company’s stock, valued at $2,237,731.62. The sale was disclosed in a filing with the SEC, which is available at this link.
AeroVironment, Inc. (NASDAQ AVAV) opened at 38.31 on Friday. AeroVironment, Inc. has a one year low of $22.16 and a one year high of $40.10. The firm has a market cap of $891.36 million, a price-to-earnings ratio of 70.94 and a beta of 1.31. The stock’s 50 day moving average price is $37.62 and its 200-day moving average price is $30.80.
AeroVironment (NASDAQ:AVAV) last released its earnings results on Tuesday, June 27th. The aerospace company reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.31. AeroVironment had a return on equity of 3.49% and a net margin of 4.71%. The business had revenue of $125.40 million for the quarter, compared to analyst estimates of $122.90 million. During the same quarter in the prior year, the company posted $0.23 earnings per share. AeroVironment’s revenue was up 47.9% on a year-over-year basis. Analysts forecast that AeroVironment, Inc. will post $0.54 earnings per share for the current year.
Several brokerages recently issued reports on AVAV. Jefferies Group LLC increased their price objective on AeroVironment from $27.00 to $29.00 and gave the stock a “hold” rating in a research note on Wednesday, June 28th. TheStreet raised AeroVironment from a “c-” rating to a “b” rating in a research note on Tuesday, June 27th. Zacks Investment Research raised AeroVironment from a “hold” rating to a “strong-buy” rating and set a $42.00 price objective for the company in a research note on Friday, June 30th. Canaccord Genuity reissued a “hold” rating and issued a $35.00 price objective on shares of AeroVironment in a research note on Thursday. Finally, BidaskClub downgraded AeroVironment from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. Seven research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $33.00.
Institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its position in shares of AeroVironment by 3.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,490,349 shares of the aerospace company’s stock worth $56,930,000 after buying an additional 44,670 shares during the period. Virtu KCG Holdings LLC acquired a new position in shares of AeroVironment during the second quarter worth $534,000. Parametric Portfolio Associates LLC increased its position in shares of AeroVironment by 12.9% in the second quarter. Parametric Portfolio Associates LLC now owns 26,962 shares of the aerospace company’s stock worth $1,030,000 after buying an additional 3,083 shares during the period. Suntrust Banks Inc. increased its position in shares of AeroVironment by 3.8% in the second quarter. Suntrust Banks Inc. now owns 9,224 shares of the aerospace company’s stock worth $352,000 after buying an additional 340 shares during the period. Finally, ARK Investment Management LLC increased its position in shares of AeroVironment by 18.6% in the second quarter. ARK Investment Management LLC now owns 142,859 shares of the aerospace company’s stock worth $5,457,000 after buying an additional 22,407 shares during the period. 82.53% of the stock is currently owned by hedge funds and other institutional investors.
AeroVironment Company Profile
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.
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