AeroVironment, Inc. (NASDAQ:AVAV) Chairman Timothy E. Conver sold 7,600 shares of AeroVironment stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $38.19, for a total value of $290,244.00. Following the completion of the transaction, the chairman now owns 58,138 shares of the company’s stock, valued at $2,220,290.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
AeroVironment, Inc. (NASDAQ:AVAV) opened at 38.30 on Friday. AeroVironment, Inc. has a 12 month low of $22.16 and a 12 month high of $40.10. The firm has a market capitalization of $891.13 million, a P/E ratio of 70.93 and a beta of 1.31. The stock’s 50 day moving average price is $34.58 and its 200 day moving average price is $29.48.
AeroVironment (NASDAQ:AVAV) last issued its quarterly earnings data on Tuesday, June 27th. The aerospace company reported $1.30 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.31. The firm had revenue of $125.40 million for the quarter, compared to analysts’ expectations of $122.90 million. AeroVironment had a net margin of 4.71% and a return on equity of 3.49%. The company’s quarterly revenue was up 47.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.23 earnings per share. On average, analysts forecast that AeroVironment, Inc. will post $0.54 earnings per share for the current year.
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A number of equities analysts have commented on AVAV shares. Canaccord Genuity restated a “hold” rating and issued a $29.00 target price on shares of AeroVironment in a research note on Friday, April 7th. Jefferies Group LLC restated a “hold” rating and issued a $27.00 target price on shares of AeroVironment in a research note on Tuesday, April 18th. ValuEngine upgraded AeroVironment from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Zacks Investment Research upgraded AeroVironment from a “hold” rating to a “strong-buy” rating and set a $42.00 price objective for the company in a research report on Friday, June 30th. Finally, TheStreet upgraded AeroVironment from a “c-” rating to a “b” rating in a research report on Tuesday, June 27th. Seven analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $31.80.
A number of hedge funds have recently modified their holdings of AVAV. Essex Investment Management Co. LLC purchased a new stake in shares of AeroVironment during the first quarter valued at $1,309,000. Granite Investment Partners LLC boosted its stake in shares of AeroVironment by 11.4% in the first quarter. Granite Investment Partners LLC now owns 332,807 shares of the aerospace company’s stock valued at $9,329,000 after buying an additional 34,127 shares in the last quarter. American Capital Management Inc. boosted its stake in shares of AeroVironment by 11.3% in the first quarter. American Capital Management Inc. now owns 1,179,552 shares of the aerospace company’s stock valued at $33,063,000 after buying an additional 120,140 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of AeroVironment by 1.2% in the first quarter. Louisiana State Employees Retirement System now owns 8,400 shares of the aerospace company’s stock valued at $235,000 after buying an additional 100 shares in the last quarter. Finally, Berson & Corrado Investment Advisors LLC purchased a new stake in shares of AeroVironment during the first quarter valued at $230,000. 81.70% of the stock is currently owned by hedge funds and other institutional investors.
AeroVironment Company Profile
AeroVironment, Inc designs, develops, produces, supports and operates a portfolio of products and services for government agencies, businesses and consumers. The Company operates through two segments: Unmanned Aircraft Systems (UAS), 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 (EES), which focuses primarily on the design, development, production, marketing, support and operation of electric energy systems.
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