AeroVironment (NASDAQ:AVAV) Coverage Initiated by Analysts at Needham & Company LLC

Analysts at Needham & Company LLC began coverage on shares of AeroVironment (NASDAQ:AVAV) in a research report issued on Tuesday,Benzinga reports. The firm set a “buy” rating and a $300.00 price target on the aerospace company’s stock. Needham & Company LLC’s target price suggests a potential upside of 21.39% from the company’s previous close.

Other equities analysts have also issued reports about the company. KeyCorp started coverage on AeroVironment in a research report on Sunday, June 29th. They set an “overweight” rating on the stock. Royal Bank Of Canada raised their target price on AeroVironment from $275.00 to $300.00 and gave the company an “outperform” rating in a research note on Thursday, July 17th. Stifel Nicolaus began coverage on AeroVironment in a research note on Tuesday, June 24th. They set a “buy” rating and a $240.00 price objective for the company. BTIG Research lifted their target price on AeroVironment from $225.00 to $300.00 and gave the stock a “buy” rating in a report on Tuesday, June 24th. Finally, Canaccord Genuity Group began coverage on AeroVironment in a report on Monday, August 11th. They issued a “buy” rating and a $305.00 target price for the company. One investment analyst has rated the stock with a hold rating, sixteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $286.46.

AeroVironment Stock Up 0.2%

Shares of NASDAQ:AVAV opened at $247.13 on Tuesday. The company has a market capitalization of $12.34 billion, a PE ratio of 159.44 and a beta of 0.99. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.52 and a quick ratio of 2.69. The business has a fifty day moving average price of $244.07 and a two-hundred day moving average price of $183.75. AeroVironment has a 1 year low of $102.25 and a 1 year high of $295.90.

AeroVironment (NASDAQ:AVAV) last issued its quarterly earnings data on Tuesday, June 24th. The aerospace company reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.20. The business had revenue of $275.05 million for the quarter, compared to analysts’ expectations of $242.69 million. AeroVironment had a return on equity of 10.68% and a net margin of 5.32%. The firm’s quarterly revenue was up 39.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.43 EPS. Analysts forecast that AeroVironment will post 3.38 earnings per share for the current year.

Insider Activity at AeroVironment

In related news, CEO Wahid Nawabi sold 17,300 shares of the business’s stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $263.05, for a total value of $4,550,765.00. Following the sale, the chief executive officer directly owned 122,233 shares in the company, valued at approximately $32,153,390.65. The trade was a 12.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.81% of the company’s stock.

Institutional Investors Weigh In On AeroVironment

A number of hedge funds have recently made changes to their positions in AVAV. ORG Partners LLC raised its position in AeroVironment by 296.0% during the second quarter. ORG Partners LLC now owns 99 shares of the aerospace company’s stock valued at $27,000 after purchasing an additional 74 shares during the period. RMG Wealth Management LLC bought a new position in shares of AeroVironment during the second quarter valued at approximately $28,000. Bessemer Group Inc. grew its stake in AeroVironment by 60.3% in the second quarter. Bessemer Group Inc. now owns 117 shares of the aerospace company’s stock worth $33,000 after purchasing an additional 44 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in AeroVironment by 5,200.0% in the second quarter. EverSource Wealth Advisors LLC now owns 159 shares of the aerospace company’s stock worth $45,000 after purchasing an additional 156 shares in the last quarter. Finally, Cullen Frost Bankers Inc. bought a new position in AeroVironment in the second quarter worth approximately $46,000. 86.38% of the stock is currently owned by hedge funds and other institutional investors.

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.