AeroVironment (NASDAQ:AVAV) Upgraded at Robert W. Baird

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AeroVironment (NASDAQ:AVAV) was upgraded by investment analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating in a report issued on Monday, The Fly reports.

A number of other equities analysts have also commented on AVAV. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $76.00 price target on shares of AeroVironment in a report on Wednesday, November 20th. Stifel Nicolaus reaffirmed a “hold” rating on shares of AeroVironment in a report on Thursday, September 26th. BidaskClub downgraded AeroVironment from a “buy” rating to a “hold” rating in a research report on Thursday, November 21st. Zacks Investment Research downgraded AeroVironment from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Finally, William Blair reiterated a “buy” rating on shares of AeroVironment in a research report on Wednesday, August 21st. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $71.72.

AeroVironment stock opened at $61.34 on Monday. AeroVironment has a one year low of $48.61 and a one year high of $95.38. The business has a fifty day moving average price of $59.45 and a 200-day moving average price of $58.25. The company has a debt-to-equity ratio of 0.02, a current ratio of 10.56 and a quick ratio of 9.26. The firm has a market capitalization of $1.47 billion, a P/E ratio of 41.45 and a beta of 1.18.

AeroVironment (NASDAQ:AVAV) last posted its quarterly earnings results on Wednesday, September 4th. The aerospace company reported $0.74 EPS for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.39. AeroVironment had a return on equity of 8.55% and a net margin of 11.52%. The firm had revenue of $86.91 million during the quarter, compared to analyst estimates of $85.25 million. Sell-side analysts expect that AeroVironment will post 1.65 earnings per share for the current fiscal year.

In related news, Chairman Timothy E. Conver sold 6,896 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $63.10, for a total value of $435,137.60. Following the sale, the chairman now owns 56,660 shares in the company, valued at $3,575,246. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 48,272 shares of company stock worth $2,818,947 in the last quarter. 10.50% of the stock is currently owned by company insiders.

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in AeroVironment by 5.1% during the second quarter. Vanguard Group Inc. now owns 3,222,367 shares of the aerospace company’s stock valued at $182,934,000 after purchasing an additional 156,031 shares in the last quarter. Nikko Asset Management Americas Inc. raised its position in AeroVironment by 18.9% during the third quarter. Nikko Asset Management Americas Inc. now owns 542,167 shares of the aerospace company’s stock valued at $29,038,000 after purchasing an additional 86,287 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in AeroVironment by 18.9% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 542,005 shares of the aerospace company’s stock valued at $29,030,000 after purchasing an additional 86,125 shares in the last quarter. Stephens Investment Management Group LLC raised its position in AeroVironment by 17.9% during the third quarter. Stephens Investment Management Group LLC now owns 323,307 shares of the aerospace company’s stock valued at $17,316,000 after purchasing an additional 49,123 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in AeroVironment by 85.6% during the second quarter. Renaissance Technologies LLC now owns 296,336 shares of the aerospace company’s stock valued at $16,823,000 after purchasing an additional 136,700 shares in the last quarter. Institutional investors own 85.84% 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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Analyst Recommendations for AeroVironment (NASDAQ:AVAV)

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