AeroVironment (NASDAQ:AVAV) Downgraded to “Strong Sell” at BidaskClub

BidaskClub downgraded shares of AeroVironment (NASDAQ:AVAV) from a sell rating to a strong sell rating in a research report report published on Wednesday morning, BidAskClub reports.

A number of other research analysts also recently commented on the company. Piper Jaffray Companies dropped their price target on AeroVironment from $79.00 to $74.00 and set a neutral rating for the company in a research note on Tuesday, June 4th. William Blair reissued a buy rating on shares of AeroVironment in a research note on Monday, July 8th. Canaccord Genuity lowered their target price on AeroVironment from $86.00 to $80.00 and set an in-line rating for the company in a research note on Wednesday, June 26th. Zacks Investment Research upgraded AeroVironment from a sell rating to a hold rating in a report on Tuesday, August 6th. Finally, ValuEngine cut AeroVironment from a buy rating to a hold rating in a report on Monday, June 17th. One analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. The company has an average rating of Hold and an average target price of $74.32.

AVAV opened at $52.52 on Wednesday. AeroVironment has a fifty-two week low of $49.69 and a fifty-two week high of $121.32. The company has a market capitalization of $1.21 billion, a P/E ratio of 35.49, a P/E/G ratio of 1.32 and a beta of 1.11. The stock has a fifty day moving average of $54.31 and a 200-day moving average of $66.18.

AeroVironment (NASDAQ:AVAV) last posted its earnings results on Tuesday, June 25th. The aerospace company reported $0.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.01. AeroVironment had a return on equity of 7.93% and a net margin of 15.09%. The company had revenue of $87.90 million during the quarter, compared to the consensus estimate of $82.57 million. During the same quarter last year, the firm earned $0.85 earnings per share. The company’s revenue was down 25.1% on a year-over-year basis. As a group, sell-side analysts expect that AeroVironment will post 1.53 EPS for the current year.

In related news, Chairman Timothy E. Conver sold 13,792 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $63.35, for a total value of $873,723.20. Following the sale, the chairman now directly owns 55,659 shares in the company, valued at $3,525,997.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Timothy E. Conver sold 6,896 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $50.93, for a total value of $351,213.28. Following the completion of the sale, the chairman now owns 56,660 shares in the company, valued at $2,885,693.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 76,156 shares of company stock worth $4,484,489. Company insiders own 11.70% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Arizona State Retirement System boosted its holdings in AeroVironment by 0.6% in the second quarter. Arizona State Retirement System now owns 33,040 shares of the aerospace company’s stock valued at $1,876,000 after acquiring an additional 188 shares during the last quarter. Mason Street Advisors LLC lifted its stake in AeroVironment by 3.4% in the first quarter. Mason Street Advisors LLC now owns 6,839 shares of the aerospace company’s stock valued at $468,000 after buying an additional 226 shares during the period. UBS Asset Management Americas Inc. lifted its stake in AeroVironment by 1.4% in the second quarter. UBS Asset Management Americas Inc. now owns 16,197 shares of the aerospace company’s stock valued at $920,000 after buying an additional 226 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in AeroVironment by 14.2% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 2,078 shares of the aerospace company’s stock valued at $142,000 after buying an additional 259 shares during the period. Finally, Royal Bank of Canada lifted its stake in AeroVironment by 4.7% in the second quarter. Royal Bank of Canada now owns 5,935 shares of the aerospace company’s stock valued at $337,000 after buying an additional 264 shares during the period. Institutional investors and hedge funds own 84.36% 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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Analyst Recommendations for AeroVironment (NASDAQ:AVAV)

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