AeroVironment (AVAV) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of AeroVironment (NASDAQ:AVAV) from a buy rating to a hold rating in a research report sent to investors on Wednesday.

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. “

AVAV has been the subject of several other research reports. ValuEngine upgraded AeroVironment from a hold rating to a buy rating in a research note on Saturday, December 15th. Drexel Hamilton reaffirmed a hold rating on shares of AeroVironment in a report on Friday, November 30th. William Blair started coverage on AeroVironment in a report on Thursday, January 24th. They issued an outperform rating and a $73.60 price target on the stock. Finally, BidaskClub raised AeroVironment from a hold rating to a buy rating in a report on Thursday, November 8th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. AeroVironment currently has a consensus rating of Hold and an average price target of $77.43.

NASDAQ AVAV traded down $0.07 during trading hours on Wednesday, hitting $82.66. The company had a trading volume of 100 shares, compared to its average volume of 185,595. AeroVironment has a 52 week low of $41.60 and a 52 week high of $121.32. The company has a market cap of $1.95 billion, a P/E ratio of 75.44, a P/E/G ratio of 2.67 and a beta of 1.35.

AeroVironment (NASDAQ:AVAV) last issued its earnings results on Thursday, November 29th. The aerospace company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.16 by $0.13. AeroVironment had a return on equity of 10.37% and a net margin of 15.31%. The business had revenue of $72.98 million during the quarter, compared to the consensus estimate of $74.54 million. During the same quarter last year, the company earned $0.29 EPS. The firm’s revenue was up 10.9% compared to the same quarter last year. On average, equities research analysts predict that AeroVironment will post 1.22 EPS for the current fiscal year.

In related news, Chairman Timothy E. Conver sold 20,700 shares of the firm’s stock in a transaction dated Thursday, February 7th. The stock was sold at an average price of $76.43, for a total transaction of $1,582,101.00. Following the transaction, the chairman now directly owns 55,659 shares of the company’s stock, valued at approximately $4,254,017.37. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Timothy E. Conver sold 10,350 shares of the firm’s stock in a transaction dated Wednesday, January 23rd. The shares were sold at an average price of $73.18, for a total value of $757,413.00. Following the transaction, the chairman now directly owns 55,659 shares in the company, valued at $4,073,125.62. The disclosure for this sale can be found here. In the last ninety days, insiders sold 51,750 shares of company stock worth $3,844,611. Insiders own 11.70% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in AVAV. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of AeroVironment by 3,574.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 614,301 shares of the aerospace company’s stock valued at $68,903,000 after buying an additional 597,581 shares in the last quarter. Vanguard Group Inc raised its holdings in shares of AeroVironment by 25.9% during the 3rd quarter. Vanguard Group Inc now owns 2,628,986 shares of the aerospace company’s stock valued at $294,894,000 after buying an additional 540,901 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of AeroVironment by 25.9% during the 3rd quarter. Vanguard Group Inc. now owns 2,628,986 shares of the aerospace company’s stock valued at $294,894,000 after buying an additional 540,901 shares in the last quarter. BlackRock Inc. raised its holdings in shares of AeroVironment by 4.4% during the 4th quarter. BlackRock Inc. now owns 3,852,473 shares of the aerospace company’s stock valued at $261,777,000 after buying an additional 164,034 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of AeroVironment by 247.8% during the 3rd quarter. Renaissance Technologies LLC now owns 209,836 shares of the aerospace company’s stock valued at $23,537,000 after buying an additional 149,500 shares in the last quarter. 84.55% 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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