Oppenheimer & Co. Inc. bought a new position in shares of AeroVironment, Inc. (NASDAQ:AVAV) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,931 shares of the aerospace company’s stock, valued at approximately $441,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Steward Partners Investment Advisory LLC purchased a new stake in AeroVironment during the third quarter worth $170,000. Point72 Hong Kong Ltd purchased a new stake in AeroVironment during the second quarter worth $111,000. Tower Research Capital LLC TRC purchased a new stake in AeroVironment during the second quarter worth $158,000. PNC Financial Services Group Inc. boosted its position in AeroVironment by 113.2% during the second quarter. PNC Financial Services Group Inc. now owns 2,527 shares of the aerospace company’s stock worth $181,000 after purchasing an additional 1,342 shares in the last quarter. Finally, Laurion Capital Management LP purchased a new stake in AeroVironment during the second quarter worth $203,000. Institutional investors own 82.45% of the company’s stock.
A number of analysts have commented on AVAV shares. Piper Jaffray Companies reiterated a “neutral” rating and set a $77.00 target price on shares of AeroVironment in a research report on Thursday, September 6th. BidaskClub upgraded AeroVironment from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 11th. Zacks Investment Research upgraded AeroVironment from a “hold” rating to a “strong-buy” rating and set a $115.00 target price on the stock in a research report on Friday, September 7th. Canaccord Genuity boosted their target price on AeroVironment from $60.00 to $80.00 and gave the stock a “hold” rating in a research report on Thursday, September 6th. Finally, Robert W. Baird boosted their target price on AeroVironment from $52.00 to $74.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 28th. Six analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $83.20.
AeroVironment (NASDAQ:AVAV) last released its quarterly earnings results on Wednesday, September 5th. The aerospace company reported $0.85 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.79. AeroVironment had a return on equity of 10.71% and a net margin of 15.56%. The company had revenue of $78.04 million during the quarter, compared to analysts’ expectations of $73.65 million. During the same period in the previous year, the firm posted ($0.19) earnings per share. The business’s revenue for the quarter was up 127.1% compared to the same quarter last year. Equities research analysts anticipate that AeroVironment, Inc. will post 1.1 EPS for the current year.
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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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