BidaskClub Lowers AeroVironment (AVAV) to Strong Sell

BidaskClub lowered shares of AeroVironment (NASDAQ:AVAV) from a sell rating to a strong sell rating in a research note released on Wednesday.

Several other equities analysts have also recently weighed in on AVAV. Jefferies Group raised their price target on AeroVironment from $29.00 to $37.00 and gave the company a hold rating in a report on Wednesday, August 30th. Canaccord Genuity raised their price objective on AeroVironment from $35.00 to $40.00 and gave the company a hold rating in a research note on Wednesday, August 30th. Piper Jaffray Companies reaffirmed a neutral rating and issued a $36.00 price objective on shares of AeroVironment in a research note on Thursday, August 31st. Robert W. Baird reaffirmed a hold rating and issued a $35.00 price objective on shares of AeroVironment in a research note on Tuesday, October 24th. Finally, Zacks Investment Research lowered AeroVironment from a strong-buy rating to a hold rating in a research note on Wednesday, November 1st. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. AeroVironment has a consensus rating of Hold and an average target price of $44.40.

AeroVironment (NASDAQ:AVAV) opened at $56.16 on Wednesday. The firm has a market capitalization of $1,340.00, a P/E ratio of 44.22, a price-to-earnings-growth ratio of 5.98 and a beta of 1.16. AeroVironment has a 1-year low of $24.70 and a 1-year high of $58.99.

AeroVironment (NASDAQ:AVAV) last released its quarterly earnings results on Tuesday, December 5th. The aerospace company reported $0.29 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.30. The business had revenue of $73.83 million during the quarter, compared to analysts’ expectations of $63.53 million. AeroVironment had a return on equity of 8.23% and a net margin of 10.42%. The firm’s revenue for the quarter was up 47.3% compared to the same quarter last year. During the same quarter last year, the business posted ($0.18) EPS. analysts forecast that AeroVironment will post 0.64 earnings per share for the current year.

In other news, Chairman Timothy E. Conver sold 3,800 shares of the firm’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $44.14, for a total value of $167,732.00. Following the completion of the sale, the chairman now directly owns 58,138 shares of the company’s stock, valued at approximately $2,566,211.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Timothy E. Conver sold 7,600 shares of the firm’s stock in a transaction that occurred on Wednesday, October 4th. The shares were sold at an average price of $54.00, for a total value of $410,400.00. The disclosure for this sale can be found here. Insiders sold a total of 43,800 shares of company stock valued at $2,269,336 over the last ninety days. Corporate insiders own 11.00% of the company’s stock.

Several hedge funds have recently modified their holdings of the stock. PNC Financial Services Group Inc. lifted its stake in shares of AeroVironment by 1.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 4,916 shares of the aerospace company’s stock worth $187,000 after acquiring an additional 56 shares during the last quarter. Sei Investments Co. lifted its stake in shares of AeroVironment by 1.8% during the 2nd quarter. Sei Investments Co. now owns 3,450 shares of the aerospace company’s stock worth $132,000 after acquiring an additional 61 shares during the last quarter. Arizona State Retirement System lifted its stake in shares of AeroVironment by 0.9% during the 2nd quarter. Arizona State Retirement System now owns 10,798 shares of the aerospace company’s stock worth $412,000 after acquiring an additional 100 shares during the last quarter. Municipal Employees Retirement System of Michigan lifted its stake in shares of AeroVironment by 3.2% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 4,850 shares of the aerospace company’s stock worth $185,000 after acquiring an additional 150 shares during the last quarter. Finally, Suntrust Banks Inc. lifted its stake in shares of AeroVironment by 3.8% during the 2nd quarter. Suntrust Banks Inc. now owns 9,224 shares of the aerospace company’s stock worth $352,000 after acquiring an additional 340 shares during the last quarter. 74.04% of the stock is owned by hedge funds and other institutional investors.

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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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