Zacks Investment Research Upgrades AeroVironment (AVAV) to Buy

AeroVironment (NASDAQ:AVAV) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Monday. The firm currently has a $90.00 price objective on the aerospace company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 10.62% from the company’s previous close.

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. “

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Several other equities research analysts also recently commented on the company. ValuEngine upgraded AeroVironment from a “hold” rating to a “buy” rating in a report on Wednesday, January 2nd. BidaskClub upgraded AeroVironment from a “hold” rating to a “buy” rating in a report on Tuesday, January 29th. Drexel Hamilton reiterated a “hold” rating on shares of AeroVironment in a report on Friday, November 30th. Finally, William Blair initiated coverage on AeroVironment in a report on Thursday, January 24th. They issued an “outperform” rating and a $73.60 price objective for the company. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. AeroVironment has an average rating of “Hold” and a consensus price target of $77.43.

AVAV opened at $81.36 on Monday. AeroVironment has a 1 year low of $41.60 and a 1 year high of $121.32. The stock has a market capitalization of $1.98 billion, a PE ratio of 75.33, a P/E/G ratio of 2.58 and a beta of 1.35.

AeroVironment (NASDAQ:AVAV) last released its quarterly earnings data 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 company had revenue of $72.98 million during the quarter, compared to the consensus estimate of $74.54 million. During the same period last year, the company earned $0.29 EPS. AeroVironment’s revenue for the quarter was up 10.9% on a year-over-year basis. As a group, research analysts expect that AeroVironment will post 1.22 earnings per share for the current year.

In other AeroVironment news, Chairman Timothy E. Conver sold 20,700 shares of the business’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 completion of the sale, the chairman now directly owns 55,659 shares in the company, valued at approximately $4,254,017.37. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Timothy E. Conver sold 10,350 shares of the business’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 sale, the chairman now owns 55,659 shares of the company’s stock, valued at $4,073,125.62. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 51,750 shares of company stock valued at $3,844,611. Corporate insiders own 11.70% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the business. Comerica Bank grew its stake in shares of AeroVironment by 0.7% during the 4th quarter. Comerica Bank now owns 20,724 shares of the aerospace company’s stock valued at $1,580,000 after purchasing an additional 134 shares during the period. Bank of Montreal Can grew its stake in shares of AeroVironment by 12.9% during the 4th quarter. Bank of Montreal Can now owns 1,350 shares of the aerospace company’s stock valued at $91,000 after purchasing an additional 154 shares during the period. Piedmont Investment Advisors Inc. grew its stake in shares of AeroVironment by 3.3% during the 4th quarter. Piedmont Investment Advisors Inc. now owns 5,066 shares of the aerospace company’s stock valued at $344,000 after purchasing an additional 160 shares during the period. Teachers Advisors LLC grew its stake in shares of AeroVironment by 0.5% during the 3rd quarter. Teachers Advisors LLC now owns 40,825 shares of the aerospace company’s stock valued at $4,579,000 after purchasing an additional 194 shares during the period. Finally, IMS Capital Management bought a new stake in shares of AeroVironment during the 3rd quarter valued at about $25,000. Institutional investors and hedge funds own 85.53% 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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