AeroVironment, Inc. (NASDAQ:AVAV) had its target price lifted by Canaccord Genuity from $40.00 to $48.00 in a research note released on Wednesday, October 4th, MarketBeat reports. They currently have a hold rating on the aerospace company’s stock.

Several other research analysts have also recently issued reports on the stock. TheStreet upgraded shares of AeroVironment from a c- rating to a b rating in a report on Tuesday, June 27th. Robert W. Baird reaffirmed a hold rating and issued a $35.00 price target on shares of AeroVironment in a research note on Monday, August 28th. Piper Jaffray Companies lowered AeroVironment from an overweight rating to a neutral rating and raised their price target for the stock from $30.00 to $35.00 in a research note on Monday, July 3rd. Jefferies Group LLC raised their price target on AeroVironment from $29.00 to $37.00 and gave the stock a hold rating in a research note on Wednesday, August 30th. Finally, BidaskClub lowered AeroVironment from a strong-buy rating to a buy rating in a research note on Friday, July 28th. Six research analysts have rated the stock with a hold rating, The stock presently has a consensus rating of Hold and an average price target of $39.00.

Shares of AeroVironment (NASDAQ AVAV) traded down 1.35% on Wednesday, hitting $53.21. 162,405 shares of the stock were exchanged. AeroVironment has a 52-week low of $22.16 and a 52-week high of $55.75. The company has a 50 day moving average of $50.51 and a 200 day moving average of $37.44. The company has a market cap of $1.24 billion, a price-to-earnings ratio of 62.67 and a beta of 1.29.

AeroVironment (NASDAQ:AVAV) last issued its earnings results on Tuesday, August 29th. The aerospace company reported ($0.19) earnings per share (EPS) for the quarter, topping the 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 firm had revenue of $43.80 million for the quarter, compared to analysts’ expectations of $42.44 million. During the same quarter last year, the business earned ($0.51) earnings per share. The business’s revenue was up 21.0% on a year-over-year basis. Equities research analysts forecast that AeroVironment will post $0.61 earnings per share for the current year.

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In other AeroVironment news, Chairman Timothy E. Conver sold 7,600 shares of the firm’s stock in a transaction on Wednesday, October 4th. The stock was sold at an average price of $54.00, for a total transaction of $410,400.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Timothy E. Conver sold 3,800 shares of the firm’s stock in a transaction on Wednesday, July 19th. The shares were sold at an average price of $38.14, for a total value of $144,932.00. Following the transaction, the chairman now directly owns 58,138 shares of the company’s stock, valued at approximately $2,217,383.32. The disclosure for this sale can be found here. Insiders sold 51,400 shares of company stock valued at $2,307,260 in the last ninety days. 11.00% of the stock is currently owned by insiders.

A number of institutional investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. lifted its position in AeroVironment by 0.8% during the first quarter. PNC Financial Services Group Inc. now owns 4,860 shares of the aerospace company’s stock valued at $136,000 after buying an additional 38 shares during the period. Sei Investments Co. lifted its position in AeroVironment by 1.8% during the second quarter. Sei Investments Co. now owns 3,450 shares of the aerospace company’s stock valued at $132,000 after buying an additional 61 shares during the period. Arizona State Retirement System lifted its position in AeroVironment by 0.9% during the first quarter. Arizona State Retirement System now owns 10,698 shares of the aerospace company’s stock valued at $300,000 after buying an additional 100 shares during the period. Municipal Employees Retirement System of Michigan lifted its position in AeroVironment by 3.2% during the second quarter. Municipal Employees Retirement System of Michigan now owns 4,850 shares of the aerospace company’s stock valued at $185,000 after buying an additional 150 shares during the period. Finally, Prudential Financial Inc. lifted its position in AeroVironment by 0.4% during the first quarter. Prudential Financial Inc. now owns 35,350 shares of the aerospace company’s stock valued at $991,000 after buying an additional 154 shares during the period. 77.55% of the stock is owned by institutional investors and hedge funds.

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.

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