AeroVironment, Inc. (NASDAQ:AVAV) Given Consensus Recommendation of “Buy” by Brokerages

Shares of AeroVironment, Inc. (NASDAQ:AVAV) have been given a consensus recommendation of “Buy” by the eight ratings firms that are currently covering the stock, MarketBeat Ratings reports. Six analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $202.00.

A number of brokerages recently issued reports on AVAV. Raymond James raised shares of AeroVironment from a “market perform” rating to a “strong-buy” rating and set a $200.00 price objective for the company in a report on Tuesday, April 8th. Robert W. Baird cut their price objective on AeroVironment from $220.00 to $146.00 and set an “outperform” rating for the company in a research report on Wednesday, March 5th. Jefferies Financial Group reduced their price target on shares of AeroVironment from $230.00 to $190.00 and set a “buy” rating on the stock in a research note on Wednesday, March 5th. Finally, William Blair reaffirmed an “outperform” rating on shares of AeroVironment in a research report on Wednesday, March 5th.

Insiders Place Their Bets

In related news, CEO Wahid Nawabi sold 29,366 shares of the business’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $128.20, for a total transaction of $3,764,721.20. Following the completion of the transaction, the chief executive officer now directly owns 115,174 shares of the company’s stock, valued at $14,765,306.80. The trade was a 20.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.27% of the company’s stock.

Hedge Funds Weigh In On AeroVironment

Institutional investors and hedge funds have recently made changes to their positions in the stock. Barclays PLC lifted its stake in AeroVironment by 149.7% in the third quarter. Barclays PLC now owns 57,245 shares of the aerospace company’s stock worth $11,477,000 after acquiring an additional 34,318 shares during the last quarter. Tidal Investments LLC increased its holdings in AeroVironment by 39.6% in the third quarter. Tidal Investments LLC now owns 7,451 shares of the aerospace company’s stock valued at $1,494,000 after buying an additional 2,115 shares during the last quarter. Franklin Resources Inc. raised its stake in AeroVironment by 299.4% in the third quarter. Franklin Resources Inc. now owns 4,821 shares of the aerospace company’s stock valued at $1,037,000 after buying an additional 3,614 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in AeroVironment by 4.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 38,585 shares of the aerospace company’s stock worth $7,736,000 after buying an additional 1,705 shares during the last quarter. Finally, Modus Advisors LLC acquired a new position in shares of AeroVironment during the 4th quarter worth about $31,000. 86.38% of the stock is owned by institutional investors and hedge funds.

AeroVironment Trading Up 2.3 %

AVAV opened at $158.79 on Monday. The firm has a market capitalization of $4.48 billion, a price-to-earnings ratio of 91.26 and a beta of 0.74. The company’s 50 day simple moving average is $135.29 and its two-hundred day simple moving average is $165.94. AeroVironment has a 1-year low of $102.25 and a 1-year high of $236.60. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.61 and a quick ratio of 3.36.

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.