AeroVironment (NASDAQ:AVAV) Upgraded by Alembic Global Advisors to Overweight

Alembic Global Advisors upgraded shares of AeroVironment (NASDAQ:AVAV) from a neutral rating to an overweight rating in a research report released on Wednesday, MarketBeat Ratings reports. The firm currently has $216.00 target price on the aerospace company’s stock.

AVAV has been the topic of a number of other reports. BTIG Research started coverage on shares of AeroVironment in a report on Wednesday, June 26th. They set a buy rating and a $255.00 target price on the stock. Royal Bank of Canada reissued an outperform rating and set a $200.00 target price on shares of AeroVironment in a report on Thursday, June 27th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $207.20.

AeroVironment Stock Up 9.1 %

Shares of NASDAQ:AVAV opened at $193.86 on Wednesday. The stock has a market capitalization of $5.45 billion, a price-to-earnings ratio of 87.32 and a beta of 0.51. AeroVironment has a 1-year low of $93.94 and a 1-year high of $224.00. The company’s fifty day moving average is $177.34 and its two-hundred day moving average is $169.71. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.52 and a current ratio of 3.56.

AeroVironment (NASDAQ:AVAV) last issued its earnings results on Wednesday, June 26th. The aerospace company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.21. The company had revenue of $197.00 million for the quarter, compared to analysts’ expectations of $188.48 million. AeroVironment had a net margin of 8.32% and a return on equity of 10.89%. The firm’s revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.99 earnings per share. Equities analysts anticipate that AeroVironment will post 3.41 EPS for the current year.

Insider Buying and Selling

In related news, CEO Wahid Nawabi sold 9,867 shares of the stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $169.23, for a total value of $1,669,792.41. Following the sale, the chief executive officer now owns 99,892 shares of the company’s stock, valued at approximately $16,904,723.16. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other AeroVironment news, CEO Wahid Nawabi sold 9,867 shares of the firm’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $169.23, for a total transaction of $1,669,792.41. Following the transaction, the chief executive officer now owns 99,892 shares of the company’s stock, valued at approximately $16,904,723.16. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Kevin Patrick Mcdonnell sold 513 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $174.70, for a total transaction of $89,621.10. Following the transaction, the chief financial officer now directly owns 18,650 shares in the company, valued at approximately $3,258,155. The disclosure for this sale can be found here. Insiders have sold a total of 10,891 shares of company stock valued at $1,850,601 in the last quarter. Company insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On AeroVironment

Several large investors have recently bought and sold shares of AVAV. Baillie Gifford & Co. increased its stake in AeroVironment by 132.7% during the 2nd quarter. Baillie Gifford & Co. now owns 1,511,676 shares of the aerospace company’s stock valued at $275,367,000 after buying an additional 861,962 shares during the period. Vanguard Group Inc. increased its stake in AeroVironment by 6.2% during the 1st quarter. Vanguard Group Inc. now owns 3,094,831 shares of the aerospace company’s stock valued at $474,376,000 after buying an additional 179,395 shares during the period. Victory Capital Management Inc. increased its stake in AeroVironment by 3,565.5% during the 4th quarter. Victory Capital Management Inc. now owns 171,288 shares of the aerospace company’s stock valued at $21,589,000 after buying an additional 166,615 shares during the period. International Assets Investment Management LLC acquired a new position in AeroVironment during the 4th quarter valued at about $20,287,000. Finally, Wellington Management Group LLP increased its stake in AeroVironment by 187.5% during the 4th quarter. Wellington Management Group LLP now owns 221,749 shares of the aerospace company’s stock valued at $27,949,000 after buying an additional 144,628 shares during the period. Institutional investors and hedge funds own 86.38% of the company’s stock.

About AeroVironment

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.