Wall Street analysts forecast that AeroVironment, Inc. (NASDAQ:AVAV) will report $68.30 million in sales for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for AeroVironment’s earnings. The highest sales estimate is $72.50 million and the lowest is $65.60 million. AeroVironment posted sales of $50.12 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 36.3%. The firm is expected to issue its next earnings results on Tuesday, December 5th.
According to Zacks, analysts expect that AeroVironment will report full year sales of $68.30 million for the current year, with estimates ranging from $290.00 million to $292.00 million. For the next financial year, analysts forecast that the business will report sales of $319.28 million per share, with estimates ranging from $313.00 million to $327.00 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow AeroVironment.
AeroVironment (NASDAQ:AVAV) last posted its quarterly earnings results on Tuesday, August 29th. The aerospace company reported ($0.19) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.34) by $0.15. AeroVironment had a return on equity of 5.40% and a net margin of 7.22%. The firm had revenue of $43.80 million during the quarter, compared to analysts’ expectations of $42.44 million. During the same quarter in the previous year, the business earned ($0.51) earnings per share. The company’s revenue was up 21.0% on a year-over-year basis.
A number of analysts have commented on the company. Piper Jaffray Companies reaffirmed a “neutral” rating and set a $36.00 price target on shares of AeroVironment in a research report on Thursday. Jefferies Group LLC lifted their price target on AeroVironment from $29.00 to $37.00 and gave the stock a “hold” rating in a research report on Wednesday. Canaccord Genuity lifted their price target on AeroVironment from $35.00 to $40.00 and gave the stock a “hold” rating in a research report on Wednesday. Robert W. Baird reaffirmed a “hold” rating and set a $35.00 price target on shares of AeroVironment in a research report on Monday, August 28th. Finally, TheStreet raised AeroVironment from a “c-” rating to a “b” rating in a research report on Tuesday, June 27th. Six research analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $38.00.
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AeroVironment (NASDAQ:AVAV) traded up 0.27% on Friday, hitting $49.15. The stock had a trading volume of 595,220 shares. AeroVironment has a 52-week low of $22.16 and a 52-week high of $50.00. The firm has a market cap of $1.15 billion, a PE ratio of 57.89 and a beta of 1.24. The company has a 50-day moving average price of $39.01 and a 200 day moving average price of $32.32.
In other AeroVironment news, VP Kenneth D. Karklin sold 735 shares of AeroVironment stock in a transaction dated Friday, July 14th. The stock was sold at an average price of $39.57, for a total transaction of $29,083.95. Following the completion of the transaction, the vice president now owns 9,437 shares in the company, valued at approximately $373,422.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Timothy E. Conver sold 11,362 shares of AeroVironment stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $39.19, for a total value of $445,276.78. Following the transaction, the chairman now owns 58,138 shares of the company’s stock, valued at approximately $2,278,428.22. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 79,497 shares of company stock valued at $3,034,461. 11.00% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position in AeroVironment by 3.6% in the second quarter. BlackRock Inc. now owns 3,333,627 shares of the aerospace company’s stock worth $127,344,000 after buying an additional 116,654 shares during the last quarter. Vanguard Group Inc. raised its position in AeroVironment by 3.7% in the second quarter. Vanguard Group Inc. now owns 1,929,825 shares of the aerospace company’s stock worth $73,719,000 after buying an additional 68,232 shares during the last quarter. Dimensional Fund Advisors LP raised its position in AeroVironment by 3.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,490,349 shares of the aerospace company’s stock worth $56,930,000 after buying an additional 44,670 shares during the last quarter. American Capital Management Inc. raised its position in AeroVironment by 11.4% in the second quarter. American Capital Management Inc. now owns 1,314,107 shares of the aerospace company’s stock worth $50,199,000 after buying an additional 134,555 shares during the last quarter. Finally, Janus Henderson Group PLC bought a new position in AeroVironment during the second quarter worth $39,724,000. Institutional investors and hedge funds own 77.55% of the company’s stock.
AeroVironment, Inc designs, develops, produces, supports and operates a portfolio of products and services for government agencies, businesses and consumers. The Company operates through two segments: Unmanned Aircraft Systems (UAS), which focuses primarily on the design, development, production, support and operation of UAS and tactical missile systems that provide situational awareness, multi-band communications, force protection and other mission effects, and Efficient Energy Systems (EES), which focuses primarily on the design, development, production, marketing, support and operation of electric energy systems.
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