Wall Street Zen Downgrades AeroVironment (NASDAQ:AVAV) to Sell

AeroVironment (NASDAQ:AVAV) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Saturday.

AVAV has been the topic of several other reports. Royal Bank of Canada restated an “outperform” rating and set a $190.00 price objective on shares of AeroVironment in a research note on Monday, May 12th. Raymond James upgraded shares of AeroVironment from a “market perform” rating to a “strong-buy” rating and set a $200.00 price objective on the stock in a research note on Tuesday, April 8th. Robert W. Baird lifted their target price on shares of AeroVironment from $146.00 to $210.00 and gave the stock an “outperform” rating in a report on Friday, June 6th. William Blair reaffirmed an “outperform” rating on shares of AeroVironment in a report on Wednesday, March 5th. Finally, Jefferies Financial Group reduced their target price on shares of AeroVironment from $230.00 to $190.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $208.50.

AeroVironment Stock Up 2.6%

AeroVironment stock opened at $195.10 on Friday. The firm has a market capitalization of $5.51 billion, a PE ratio of 112.13 and a beta of 0.81. The company’s 50-day moving average is $162.93 and its 200-day moving average is $157.60. AeroVironment has a fifty-two week low of $102.25 and a fifty-two week 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.

Insider Buying and Selling at AeroVironment

In other AeroVironment news, CEO Wahid Nawabi sold 29,366 shares of the business’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $128.20, for a total value of $3,764,721.20. Following the completion of the sale, the chief executive officer now 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 at the SEC website. Insiders own 1.27% of the company’s stock.

Institutional Trading of AeroVironment

A number of institutional investors have recently bought and sold shares of the business. Rhumbline Advisers boosted its holdings in AeroVironment by 0.3% in the 1st quarter. Rhumbline Advisers now owns 62,969 shares of the aerospace company’s stock valued at $7,505,000 after purchasing an additional 205 shares during the period. Strs Ohio bought a new stake in AeroVironment in the 1st quarter valued at about $191,000. Belpointe Asset Management LLC bought a new stake in AeroVironment in the 1st quarter valued at about $508,000. Fortis Capital Advisors LLC bought a new stake in AeroVironment in the 1st quarter valued at about $508,000. Finally, Intech Investment Management LLC boosted its holdings in AeroVironment by 7.3% in the 1st quarter. Intech Investment Management LLC now owns 37,591 shares of the aerospace company’s stock valued at $4,480,000 after purchasing an additional 2,554 shares during the period. Institutional investors own 86.38% of the company’s stock.

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.