AeroVironment, Inc. (NASDAQ:AVAV) Chairman Timothy E. Conver sold 7,600 shares of the business’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $55.27, for a total transaction of $420,052.00. Following the transaction, the chairman now owns 58,138 shares in the company, valued at approximately $3,213,287.26. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Shares of AeroVironment, Inc. (AVAV) traded up $1.17 during trading on Friday, hitting $54.07. 377,056 shares of the stock traded hands, compared to its average volume of 389,289. AeroVironment, Inc. has a 1-year low of $24.70 and a 1-year high of $58.99. The firm has a market cap of $1,290.00, a price-to-earnings ratio of 42.57, a P/E/G ratio of 5.31 and a beta of 1.16.
AeroVironment (NASDAQ:AVAV) last issued its earnings results on Tuesday, December 5th. The aerospace company reported $0.29 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.30. AeroVironment had a net margin of 10.42% and a return on equity of 8.23%. The business had revenue of $73.83 million for the quarter, compared to analyst estimates of $63.53 million. During the same period in the previous year, the business earned ($0.18) EPS. The firm’s revenue was up 47.3% on a year-over-year basis. equities research analysts anticipate that AeroVironment, Inc. will post 0.67 EPS for the current year.
Several research analysts have recently issued reports on AVAV shares. TheStreet upgraded shares of AeroVironment from a “c+” rating to a “b” rating in a report on Friday, December 8th. ValuEngine downgraded shares of AeroVironment from a “buy” rating to a “hold” rating in a report on Wednesday, November 15th. Zacks Investment Research downgraded shares of AeroVironment from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 1st. Robert W. Baird restated a “hold” rating and set a $35.00 price objective on shares of AeroVironment in a report on Tuesday, October 24th. Finally, Canaccord Genuity lifted their target price on shares of AeroVironment from $40.00 to $48.00 and gave the company a “hold” rating in a research report on Wednesday, October 4th. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the company. AeroVironment presently has a consensus rating of “Hold” and an average target price of $44.40.
A number of large investors have recently added to or reduced their stakes in AVAV. Janus Henderson Group PLC acquired a new position in AeroVironment in the second quarter valued at about $39,724,000. BlackRock Inc. boosted 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 valued at $127,344,000 after buying an additional 116,654 shares in the last quarter. Vident Investment Advisory LLC boosted its position in AeroVironment by 31.1% in the third quarter. Vident Investment Advisory LLC now owns 474,428 shares of the aerospace company’s stock valued at $25,676,000 after buying an additional 112,487 shares in the last quarter. Pier Capital LLC acquired a new position in AeroVironment in the third quarter valued at about $6,015,000. Finally, Lord Abbett & CO. LLC acquired a new position in AeroVironment in the second quarter valued at about $3,642,000. Hedge funds and other institutional investors own 74.04% 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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