AeroVironment (AVAV) Upgraded to Strong-Buy by Zacks Investment Research

Zacks Investment Research upgraded shares of AeroVironment (NASDAQ:AVAV) from a hold rating to a strong-buy rating in a report issued on Monday morning. They currently have $88.00 target price on the aerospace company’s stock.

According to Zacks, “AeroVironment, Inc. designs, develops, produces, operates a portfolio of products and services for government agencies, businesses and consumers. It operates through two segments: Unmanned Aircraft Systems, 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, which focuses primarily on the design, development, production, support and operation of electric energy systems. The Company supplies UAS, tactical missile systems and related services primarily to organizations within the United States Department of Defense. The Company also supplies charging systems and services for electric vehicles, and power cycling and test systems to commercial, consumer and government customers. It serves the U.S. Department of Defense, including the U.S. Army, Marine Corps, Special Operations Command, Air Force, and Navy. “

Several other research analysts have also issued reports on the stock. Drexel Hamilton reiterated a hold rating on shares of AeroVironment in a research report on Friday. BidaskClub upgraded shares of AeroVironment from a hold rating to a buy rating in a research report on Thursday, November 8th. Canaccord Genuity upped their target price on shares of AeroVironment from $60.00 to $80.00 and gave the stock a hold rating in a research report on Thursday, September 6th. Piper Jaffray Companies reiterated a neutral rating and issued a $77.00 target price on shares of AeroVironment in a research report on Thursday, September 6th. Finally, Robert W. Baird upped their target price on shares of AeroVironment from $52.00 to $74.00 and gave the stock a neutral rating in a research report on Tuesday, August 28th. Six analysts have rated the stock with a hold rating and two have issued a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $77.80.

AVAV opened at $73.31 on Monday. The firm has a market cap of $1.83 billion, a PE ratio of 67.88, a PEG ratio of 2.38 and a beta of 1.25. AeroVironment has a one year low of $41.60 and a one year high of $121.32.

AeroVironment (NASDAQ:AVAV) last released its quarterly earnings results on Thursday, November 29th. The aerospace company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.13. The firm had revenue of $72.98 million during the quarter, compared to analyst estimates of $74.54 million. AeroVironment had a net margin of 15.31% and a return on equity of 10.37%. The business’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.29 EPS. As a group, sell-side analysts anticipate that AeroVironment will post 1.29 earnings per share for the current fiscal year.

Large investors have recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC bought a new stake in AeroVironment in the third quarter worth $170,000. Point72 Hong Kong Ltd bought a new stake in AeroVironment in the second quarter worth $111,000. Hsbc Holdings PLC bought a new stake in AeroVironment in the third quarter worth $213,000. Klingenstein Fields & Co. LLC bought a new stake in AeroVironment in the third quarter worth $224,000. Finally, Stone Ridge Asset Management LLC bought a new stake in AeroVironment in the third quarter worth $247,000. Institutional investors own 83.59% of the company’s stock.

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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