AeroVironment (NASDAQ:AVAV) Earns Buy Rating from Canaccord Genuity


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AeroVironment (NASDAQ:AVAV)‘s stock had its “buy” rating reiterated by equities researchers at Canaccord Genuity in a research report issued to clients and investors on Thursday, AnalystRatings.com reports. They presently have a $100.00 price objective on the aerospace company’s stock. Canaccord Genuity’s target price indicates a potential upside of 3.98% from the company’s previous close.

Several other brokerages have also recently issued reports on AVAV. William Blair raised shares of AeroVironment from a “market perform” rating to an “outperform” rating in a research note on Thursday, October 8th. Robert W. Baird raised AeroVironment from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $86.00 to $120.00 in a research report on Thursday. BidaskClub downgraded AeroVironment from a “buy” rating to a “hold” rating in a report on Thursday, December 31st. Finally, Zacks Investment Research downgraded shares of AeroVironment from a “buy” rating to a “hold” rating in a research report on Friday, December 11th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $103.67.

AeroVironment stock opened at $96.17 on Thursday. The stock has a fifty day moving average price of $88.03 and a 200 day moving average price of $78.15. AeroVironment has a 52 week low of $45.00 and a 52 week high of $99.81. The firm has a market capitalization of $2.32 billion, a P/E ratio of 80.82 and a beta of 0.58.

AeroVironment (NASDAQ:AVAV) last posted its quarterly earnings results on Monday, December 7th. The aerospace company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.31 by $0.17. The company had revenue of $92.67 million during the quarter, compared to analysts’ expectations of $81.87 million. AeroVironment had a return on equity of 7.85% and a net margin of 7.59%. The firm’s revenue was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.34 EPS. As a group, equities research analysts forecast that AeroVironment will post 1.86 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Comerica Bank lifted its holdings in AeroVironment by 4.9% in the 3rd quarter. Comerica Bank now owns 23,125 shares of the aerospace company’s stock worth $1,792,000 after buying an additional 1,077 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of AeroVironment by 6.9% in the second quarter. Charles Schwab Investment Management Inc. now owns 143,612 shares of the aerospace company’s stock worth $11,436,000 after acquiring an additional 9,287 shares in the last quarter. Public Sector Pension Investment Board grew its stake in AeroVironment by 20.8% during the 3rd quarter. Public Sector Pension Investment Board now owns 58,406 shares of the aerospace company’s stock valued at $3,505,000 after purchasing an additional 10,050 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in AeroVironment by 32.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,510 shares of the aerospace company’s stock worth $151,000 after purchasing an additional 610 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in AeroVironment by 10.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 2,296 shares of the aerospace company’s stock worth $182,000 after purchasing an additional 217 shares during the last quarter. 76.22% 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 and businesses. The company supplies 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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