AeroVironment (AVAV) Upgraded to Buy at ValuEngine

ValuEngine upgraded shares of AeroVironment (NASDAQ:AVAV) from a hold rating to a buy rating in a report issued on Saturday.

A number of other research analysts have also weighed in on AVAV. Robert W. Baird lifted their price objective on shares of AeroVironment from $52.00 to $74.00 and gave the company a neutral rating in a research note on Tuesday, August 28th. Piper Jaffray Companies reiterated a neutral rating and issued a $77.00 price objective on shares of AeroVironment in a research note on Thursday, September 6th. Canaccord Genuity lifted their price objective on shares of AeroVironment from $60.00 to $80.00 and gave the company a hold rating in a research note on Thursday, September 6th. Zacks Investment Research upgraded shares of AeroVironment from a hold rating to a strong-buy rating and set a $115.00 price objective for the company in a research note on Friday, September 7th. Finally, BidaskClub lowered shares of AeroVironment from a strong-buy rating to a buy rating in a research note on Saturday, September 22nd. Six analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of Hold and a consensus price target of $77.80.

NASDAQ:AVAV opened at $75.41 on Friday. The company has a market capitalization of $1.80 billion, a P/E ratio of 69.82, a P/E/G ratio of 2.35 and a beta of 1.24. AeroVironment has a 12 month low of $41.60 and a 12 month high of $121.32.

AeroVironment (NASDAQ:AVAV) last posted its quarterly earnings results on Thursday, November 29th. The aerospace company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.13. The company had revenue of $72.98 million for the quarter, compared to analysts’ expectations of $74.54 million. AeroVironment had a net margin of 15.31% and a return on equity of 10.37%. AeroVironment’s revenue was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.29 EPS. On average, analysts expect that AeroVironment will post 1.28 earnings per share for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in the stock. IMS Capital Management purchased a new position in AeroVironment in the 3rd quarter valued at approximately $25,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of AeroVironment by 13.0% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,085 shares of the aerospace company’s stock valued at $570,000 after purchasing an additional 584 shares in the last quarter. Aperio Group LLC grew its position in shares of AeroVironment by 7.4% during the 3rd quarter. Aperio Group LLC now owns 13,242 shares of the aerospace company’s stock valued at $1,485,000 after purchasing an additional 914 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of AeroVironment by 113.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 2,527 shares of the aerospace company’s stock valued at $181,000 after purchasing an additional 1,342 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC purchased a new position in shares of AeroVironment during the 3rd quarter valued at $170,000. Institutional investors and hedge funds own 83.79% of the company’s stock.

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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