AeroVironment (NASDAQ:AVAV) Upgraded by BidaskClub to “Strong-Buy”

BidaskClub upgraded shares of AeroVironment (NASDAQ:AVAV) from a buy rating to a strong-buy rating in a report released on Tuesday, BidAskClub reports.

AVAV has been the subject of a number of other reports. ValuEngine cut AeroVironment from a buy rating to a hold rating in a research note on Thursday, March 26th. Piper Sandler increased their price target on AeroVironment from $76.00 to $93.00 and gave the company an overweight rating in a research note on Wednesday, June 24th. Zacks Investment Research cut AeroVironment from a buy rating to a hold rating in a research note on Wednesday, May 6th. TheStreet upgraded AeroVironment from a c+ rating to a b- rating in a research note on Monday, June 22nd. Finally, Robert W. Baird increased their price target on AeroVironment from $71.00 to $86.00 and gave the company an outperform rating in a research note on Wednesday, June 24th. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of Buy and an average price target of $82.67.

Shares of AVAV stock opened at $79.63 on Tuesday. AeroVironment has a 1-year low of $45.00 and a 1-year high of $80.76. The stock’s 50-day moving average is $69.32 and its 200 day moving average is $63.35. The company has a market cap of $1.85 billion, a P/E ratio of 46.84, a PEG ratio of 1.65 and a beta of 0.72. The company has a debt-to-equity ratio of 0.02, a current ratio of 7.56 and a quick ratio of 6.48.

AeroVironment (NASDAQ:AVAV) last issued its quarterly earnings data on Tuesday, June 23rd. The aerospace company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.06. AeroVironment had a return on equity of 9.02% and a net margin of 11.18%. The company had revenue of $135.22 million for the quarter, compared to the consensus estimate of $123.44 million. During the same quarter last year, the company earned $0.26 earnings per share. The firm’s revenue for the quarter was up 53.8% compared to the same quarter last year. On average, analysts anticipate that AeroVironment will post 1.87 EPS for the current year.

Several large investors have recently made changes to their positions in the company. American Capital Management Inc. raised its stake in shares of AeroVironment by 0.4% in the fourth quarter. American Capital Management Inc. now owns 1,602,542 shares of the aerospace company’s stock worth $98,941,000 after purchasing an additional 6,217 shares during the last quarter. State Street Corp grew its holdings in AeroVironment by 3.6% during the first quarter. State Street Corp now owns 1,249,201 shares of the aerospace company’s stock worth $76,151,000 after acquiring an additional 43,710 shares during the period. Baillie Gifford & Co. grew its holdings in AeroVironment by 1.1% during the first quarter. Baillie Gifford & Co. now owns 826,330 shares of the aerospace company’s stock worth $50,373,000 after acquiring an additional 8,635 shares during the period. Bank of New York Mellon Corp grew its holdings in AeroVironment by 8.4% during the first quarter. Bank of New York Mellon Corp now owns 511,642 shares of the aerospace company’s stock worth $31,190,000 after acquiring an additional 39,682 shares during the period. Finally, Lord Abbett & CO. LLC grew its holdings in AeroVironment by 88.4% during the first quarter. Lord Abbett & CO. LLC now owns 365,584 shares of the aerospace company’s stock worth $22,286,000 after acquiring an additional 171,490 shares during the period. Hedge funds and other institutional investors own 83.51% of the company’s stock.

About AeroVironment

AeroVironment, Inc designs, develops, produces, supports, and operates a portfolio of products and services for government agencies and businesses. The company offers 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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