BidaskClub Lowers AeroVironment (AVAV) to Hold

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AeroVironment (NASDAQ:AVAV) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

Several other equities research analysts also recently commented on AVAV. Zacks Investment Research downgraded shares of AeroVironment from a “buy” rating to a “hold” rating in a research note on Monday, February 4th. TheStreet downgraded shares of AeroVironment from an “a-” rating to a “c+” rating in a research report on Monday, March 11th. ValuEngine upgraded shares of AeroVironment from a “hold” rating to a “buy” rating in a research report on Saturday, December 15th. Drexel Hamilton reiterated a “hold” rating on shares of AeroVironment in a research report on Friday, November 30th. Finally, William Blair initiated coverage on shares of AeroVironment in a research report on Thursday, January 24th. They set an “outperform” rating and a $73.60 price target on the stock. Six research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $77.60.

Shares of NASDAQ:AVAV opened at $71.04 on Friday. AeroVironment has a 52 week low of $44.26 and a 52 week high of $121.32. The firm has a market capitalization of $1.77 billion, a PE ratio of 65.78, a PEG ratio of 2.16 and a beta of 1.36.

AeroVironment (NASDAQ:AVAV) last issued its earnings results on Tuesday, March 5th. The aerospace company reported $0.35 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.21. AeroVironment had a net margin of 17.48% and a return on equity of 11.40%. Sell-side analysts expect that AeroVironment will post 1.49 earnings per share for the current fiscal year.

In related news, Chairman Timothy E. Conver sold 20,700 shares of the company’s stock in a transaction dated Friday, January 11th. The shares were sold at an average price of $72.71, for a total transaction of $1,505,097.00. Following the transaction, the chairman now owns 55,659 shares in the company, valued at approximately $4,046,965.89. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Timothy E. Conver sold 10,350 shares of the company’s stock in a transaction dated Wednesday, January 23rd. The stock was sold at an average price of $73.18, for a total transaction of $757,413.00. Following the transaction, the chairman now owns 55,659 shares in the company, valued at approximately $4,073,125.62. The disclosure for this sale can be found here. In the last quarter, insiders have sold 93,138 shares of company stock worth $7,246,903. 11.70% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of AVAV. Mirae Asset Global Investments Co. Ltd. lifted its position in AeroVironment by 3,574.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 614,301 shares of the aerospace company’s stock worth $68,903,000 after buying an additional 597,581 shares in the last quarter. Vanguard Group Inc lifted its position in AeroVironment by 25.9% during the 3rd quarter. Vanguard Group Inc now owns 2,628,986 shares of the aerospace company’s stock valued at $294,894,000 after purchasing an additional 540,901 shares during the period. Vanguard Group Inc. lifted its position in AeroVironment by 25.9% during the 3rd quarter. Vanguard Group Inc. now owns 2,628,986 shares of the aerospace company’s stock valued at $294,894,000 after purchasing an additional 540,901 shares during the period. Norges Bank acquired a new position in AeroVironment during the 4th quarter valued at about $12,704,000. Finally, BlackRock Inc. lifted its position in AeroVironment by 4.4% during the 4th quarter. BlackRock Inc. now owns 3,852,473 shares of the aerospace company’s stock valued at $261,777,000 after purchasing an additional 164,034 shares during the period. Institutional investors and hedge funds own 84.82% 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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