Canvas Wealth Advisors LLC Increases Holdings in AeroVironment, Inc. $AVAV

Canvas Wealth Advisors LLC raised its holdings in shares of AeroVironment, Inc. (NASDAQ:AVAV) by 47.4% in the second quarter, HoldingsChannel reports. The firm owned 13,392 shares of the aerospace company’s stock after buying an additional 4,309 shares during the quarter. Canvas Wealth Advisors LLC’s holdings in AeroVironment were worth $2,211,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new stake in shares of AeroVironment in the 4th quarter worth approximately $94,655,000. Swedbank AB raised its holdings in shares of AeroVironment by 22,773.4% during the fourth quarter. Swedbank AB now owns 261,214 shares of the aerospace company’s stock valued at $63,185,000 after acquiring an additional 260,072 shares in the last quarter. Marshall Wace LLP lifted its stake in AeroVironment by 4,770.1% in the fourth quarter. Marshall Wace LLP now owns 260,207 shares of the aerospace company’s stock worth $62,941,000 after acquiring an additional 254,864 shares during the period. Heard Capital LLC lifted its stake in AeroVironment by 48.4% in the fourth quarter. Heard Capital LLC now owns 722,150 shares of the aerospace company’s stock worth $174,681,000 after acquiring an additional 235,685 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in AeroVironment by 3,880.9% in the third quarter. Franklin Resources Inc. now owns 206,607 shares of the aerospace company’s stock valued at $65,058,000 after acquiring an additional 201,417 shares in the last quarter. Hedge funds and other institutional investors own 86.38% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on AVAV shares. KeyCorp reissued an “overweight” rating on shares of AeroVironment in a research report on Tuesday, July 28th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of AeroVironment in a research report on Monday, June 8th. Wedbush began coverage on shares of AeroVironment in a research note on Tuesday, June 30th. They set an “outperform” rating and a $250.00 target price on the stock. BTIG Research reiterated a “buy” rating and set a $205.00 price target on shares of AeroVironment in a research report on Thursday, July 9th. Finally, Canaccord Genuity Group decreased their price target on shares of AeroVironment from $280.00 to $240.00 and set a “buy” rating for the company in a research note on Friday, July 10th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, AeroVironment currently has an average rating of “Moderate Buy” and an average target price of $266.68.

AeroVironment Stock Performance

AeroVironment stock opened at $196.02 on Wednesday. AeroVironment, Inc. has a twelve month low of $135.20 and a twelve month high of $417.86. The company has a quick ratio of 3.59, a current ratio of 4.30 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $9.92 billion, a P/E ratio of -53.27, a PEG ratio of 6.43 and a beta of 1.41. The stock’s 50 day moving average is $162.72 and its 200 day moving average is $196.74.

AeroVironment (NASDAQ:AVAV) last announced its quarterly earnings data on Monday, June 29th. The aerospace company reported $1.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.37. AeroVironment had a positive return on equity of 3.71% and a negative net margin of 9.00%.The business had revenue of $641.62 million during the quarter, compared to analysts’ expectations of $555.97 million. During the same quarter in the previous year, the business earned $1.61 earnings per share. The firm’s quarterly revenue was up 133.3% compared to the same quarter last year. AeroVironment has set its FY 2027 guidance at 3.020-3.340 EPS. On average, equities research analysts predict that AeroVironment, Inc. will post 3.26 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Stephen F. Page sold 250 shares of AeroVironment stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $174.41, for a total value of $43,602.50. Following the completion of the transaction, the director owned 49,001 shares of the company’s stock, valued at $8,546,264.41. The trade was a 0.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.81% of the stock is currently owned by corporate insiders.

AeroVironment Profile

AeroVironment, Inc (NASDAQ:AVAV) is a technology company specializing in unmanned aerial systems (UAS), tactical missiles and precision loitering munitions, electric vehicle charging and scalable energy systems. Headquartered in Monrovia, California, the company develops solutions for defense, public safety and commercial markets. Their offerings include small UAS for intelligence, surveillance and reconnaissance, as well as advanced weapons systems designed to meet the needs of modern military operations.

The company’s unmanned aerial systems portfolio features platforms such as the Raven, Puma and Switchblade series, which are deployed by the U.S.