AeroVironment (NASDAQ:AVAV) Now Covered by Citizens Jmp

Citizens Jmp assumed coverage on shares of AeroVironment (NASDAQ:AVAV - Get Free Report) in a report released on Monday,Briefing.com Automated Import reports. The firm set an "outperform" rating and a $325.00 price target on the aerospace company's stock. Citizens Jmp's target price would suggest a potential upside of 24.97% from the company's current price.

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AVAV has been the subject of several other reports. Canaccord Genuity Group reiterated a "buy" rating on shares of AeroVironment in a research note on Thursday, June 26th. Oppenheimer reiterated an "outperform" rating on shares of AeroVironment in a research note on Sunday, June 29th. Robert W. Baird lifted their target price on AeroVironment from $210.00 to $267.00 and gave the stock an "outperform" rating in a research note on Monday. Wedbush upgraded AeroVironment to an "outperform" rating in a research note on Wednesday, June 25th. Finally, William Blair began coverage on AeroVironment in a research note on Sunday, June 29th. They set an "outperform" rating for the company. One equities research analyst has rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $283.55.

Read Our Latest Stock Analysis on AeroVironment

AeroVironment Stock Down 2.8%

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AVAV stock opened at $260.07 on Monday. The company has a quick ratio of 2.69, a current ratio of 3.52 and a debt-to-equity ratio of 0.03. The business has a 50 day moving average price of $228.06 and a two-hundred day moving average price of $177.69. The company has a market cap of $12.83 billion, a price-to-earnings ratio of 167.79 and a beta of 0.99. AeroVironment has a twelve month low of $102.25 and a twelve month high of $295.90.

AeroVironment (NASDAQ:AVAV - Get Free Report) last posted its quarterly earnings results on Tuesday, June 24th. The aerospace company reported $1.61 earnings per share for the quarter, beating analysts' consensus estimates of $1.41 by $0.20. The firm had revenue of $275.05 million during the quarter, compared to the consensus estimate of $242.69 million. AeroVironment had a return on equity of 10.68% and a net margin of 5.32%. The business's revenue was up 39.6% compared to the same quarter last year. During the same period last year, the company earned $0.43 earnings per share. Analysts anticipate that AeroVironment will post 3.38 EPS for the current fiscal year.

Insiders Place Their Bets

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In related news, CEO Wahid Nawabi sold 17,300 shares of AeroVironment stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $263.05, for a total transaction of $4,550,765.00. Following the completion of the sale, the chief executive officer directly owned 122,233 shares of the company's stock, valued at approximately $32,153,390.65. This trade represents a 12.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.27% of the company's stock.

Hedge Funds Weigh In On AeroVironment

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AVAV. American Century Companies Inc. acquired a new position in AeroVironment in the 4th quarter valued at $279,000. JPMorgan Chase & Co. raised its holdings in AeroVironment by 415.7% in the 4th quarter. JPMorgan Chase & Co. now owns 198,975 shares of the aerospace company's stock valued at $30,620,000 after acquiring an additional 160,390 shares in the last quarter. Pictet Asset Management Holding SA raised its holdings in AeroVironment by 7.9% in the 4th quarter. Pictet Asset Management Holding SA now owns 3,873 shares of the aerospace company's stock valued at $596,000 after acquiring an additional 285 shares in the last quarter. Franklin Resources Inc. raised its holdings in AeroVironment by 63.8% in the 4th quarter. Franklin Resources Inc. now owns 7,898 shares of the aerospace company's stock valued at $1,215,000 after acquiring an additional 3,077 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in AeroVironment by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 654,024 shares of the aerospace company's stock valued at $100,670,000 after acquiring an additional 19,835 shares in the last quarter. 86.38% of the stock is owned by institutional investors and hedge funds.

AeroVironment Company Profile

AeroVironment, Inc designs, develops, produces, delivers, and supports a portfolio of robotic systems and related services for government agencies and businesses in the United States and internationally. It operates through Small Unmanned Aircraft Systems (SUAS), Tactical Missile System (TMS), Medium Unmanned Aircraft Systems (MUAS), and High Altitude Pseudo-Satellite Systems (HAPS) segments.

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