ValuEngine downgraded shares of AeroVironment, Inc. (NASDAQ:AVAV) from a buy rating to a hold rating in a report released on Wednesday morning.

Other research analysts have also recently issued research reports about the stock. BidaskClub cut shares of AeroVironment from a buy rating to a hold rating in a research report on Wednesday, August 16th. Canaccord Genuity reiterated a hold rating and set a $35.00 price objective on shares of AeroVironment in a research report on Thursday, August 10th. Jefferies Group LLC boosted their price objective on shares of AeroVironment from $29.00 to $37.00 and gave the company a hold rating in a research report on Wednesday, August 30th. Piper Jaffray Companies reiterated a neutral rating and set a $36.00 price objective on shares of AeroVironment in a research report on Thursday, August 31st. Finally, Zacks Investment Research cut shares of AeroVironment from a strong-buy rating to a hold rating in a report on Wednesday, November 1st. Seven analysts have rated the stock with a hold rating, The stock presently has a consensus rating of Hold and a consensus target price of $39.00.

AeroVironment (NASDAQ AVAV) opened at $42.73 on Wednesday. AeroVironment has a 1 year low of $24.70 and a 1 year high of $55.75. The firm has a market cap of $1,020.00, a price-to-earnings ratio of 51.18, a price-to-earnings-growth ratio of 4.68 and a beta of 1.24.

AeroVironment (NASDAQ:AVAV) last posted its quarterly earnings data on Tuesday, August 29th. The aerospace company reported ($0.19) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.34) by $0.15. AeroVironment had a net margin of 7.22% and a return on equity of 5.40%. The business had revenue of $43.80 million for the quarter, compared to analysts’ expectations of $42.44 million. During the same quarter in the previous year, the business posted ($0.51) earnings per share. The business’s revenue was up 21.0% compared to the same quarter last year. equities analysts expect that AeroVironment will post 0.61 earnings per share for the current fiscal year.

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In other news, Chairman Timothy E. Conver sold 7,600 shares of the company’s stock in a transaction dated Thursday, October 19th. The shares were sold at an average price of $51.12, for a total value of $388,512.00. Following the transaction, the chairman now directly owns 58,138 shares in the company, valued at $2,972,014.56. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Timothy E. Conver sold 3,800 shares of the company’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $44.14, for a total transaction of $167,732.00. Following the completion of the transaction, the chairman now owns 58,138 shares in the company, valued at $2,566,211.32. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 43,800 shares of company stock worth $2,135,804. Company insiders own 11.00% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. grew its holdings in shares of AeroVironment by 0.8% in the first quarter. PNC Financial Services Group Inc. now owns 4,860 shares of the aerospace company’s stock worth $136,000 after purchasing an additional 38 shares during the last quarter. Sei Investments Co. lifted its stake in AeroVironment by 1.8% in the second quarter. Sei Investments Co. now owns 3,450 shares of the aerospace company’s stock worth $132,000 after acquiring an additional 61 shares during the period. Arizona State Retirement System lifted its stake in AeroVironment by 0.9% in the second quarter. Arizona State Retirement System now owns 10,798 shares of the aerospace company’s stock worth $412,000 after acquiring an additional 100 shares during the period. Municipal Employees Retirement System of Michigan lifted its stake in AeroVironment by 3.2% in the second quarter. Municipal Employees Retirement System of Michigan now owns 4,850 shares of the aerospace company’s stock worth $185,000 after acquiring an additional 150 shares during the period. Finally, Prudential Financial Inc. lifted its stake in AeroVironment by 0.4% in the first quarter. Prudential Financial Inc. now owns 35,350 shares of the aerospace company’s stock worth $991,000 after acquiring an additional 154 shares during the period. Hedge funds and other institutional investors own 76.99% 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, businesses and consumers. The Company operates through two segments: Unmanned Aircraft Systems (UAS), which focuses primarily on the design, development, production, support and operation of UAS and tactical missile systems that provide situational awareness, multi-band communications, force protection and other mission effects, and Efficient Energy Systems (EES), which focuses primarily on the design, development, production, marketing, support and operation of electric energy systems.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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