AeroVironment (NASDAQ:AVAV) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Friday. The firm presently has a $115.00 price objective on the aerospace company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 14.51% from the company’s previous close.

According to Zacks, “AeroVironment, Inc. designs, develops, produces, operates a portfolio of products and services for government agencies, businesses and consumers. It operates through two segments: Unmanned Aircraft Systems, 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, which focuses primarily on the design, development, production, support and operation of electric energy systems. The Company supplies UAS, tactical missile systems and related services primarily to organizations within the United States Department of Defense. The Company also supplies charging systems and services for electric vehicles, and power cycling and test systems to commercial, consumer and government customers. It serves the U.S. Department of Defense, including the U.S. Army, Marine Corps, Special Operations Command, Air Force, and Navy. “

AVAV has been the topic of several other research reports. Stifel Nicolaus cut shares of AeroVironment from a “buy” rating to a “hold” rating and raised their target price for the stock from $65.00 to $70.00 in a report on Thursday, June 28th. Robert W. Baird raised their target price on shares of AeroVironment from $52.00 to $74.00 and gave the stock a “neutral” rating in a report on Tuesday, August 28th. Canaccord Genuity raised their target price on shares of AeroVironment from $60.00 to $80.00 and gave the stock a “hold” rating in a report on Thursday. BidaskClub upgraded shares of AeroVironment from a “sell” rating to a “hold” rating in a report on Tuesday, June 5th. Finally, Drexel Hamilton restated a “hold” rating on shares of AeroVironment in a report on Wednesday, June 27th. Five investment analysts have rated the stock with a hold rating and three have issued a strong buy rating to the company’s stock. AeroVironment has a consensus rating of “Buy” and a consensus price target of $83.20.

Shares of NASDAQ AVAV opened at $100.43 on Friday. AeroVironment has a one year low of $41.53 and a one year high of $103.98. The company has a market cap of $2.39 billion, a price-to-earnings ratio of 92.99, a price-to-earnings-growth ratio of 4.00 and a beta of 1.20.

AeroVironment (NASDAQ:AVAV) last issued its quarterly earnings results on Wednesday, September 5th. The aerospace company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.79. AeroVironment had a net margin of 15.56% and a return on equity of 10.71%. The business had revenue of $78.04 million for the quarter, compared to analysts’ expectations of $73.65 million. During the same period last year, the business earned ($0.19) earnings per share. The business’s quarterly revenue was up 127.1% on a year-over-year basis. equities research analysts predict that AeroVironment will post 1.25 EPS for the current fiscal year.

In other news, VP Kirk J. Flittie sold 3,659 shares of the firm’s stock in a transaction that occurred on Thursday, July 12th. The shares were sold at an average price of $72.76, for a total value of $266,228.84. Following the transaction, the vice president now owns 9,083 shares in the company, valued at $660,879.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 11.70% of the stock is currently owned by company insiders.

Institutional investors have recently modified their holdings of the company. Point72 Hong Kong Ltd bought a new position in shares of AeroVironment in the second quarter worth approximately $111,000. Sei Investments Co. purchased a new stake in AeroVironment in the first quarter worth $100,000. Tower Research Capital LLC TRC purchased a new stake in AeroVironment in the second quarter worth $158,000. PNC Financial Services Group Inc. lifted its stake in AeroVironment by 113.2% in the second quarter. PNC Financial Services Group Inc. now owns 2,527 shares of the aerospace company’s stock worth $181,000 after acquiring an additional 1,342 shares during the period. Finally, Laurion Capital Management LP purchased a new stake in AeroVironment in the second quarter worth $203,000. Hedge funds and other institutional investors own 82.21% 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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