Royal Bank of Canada Reaffirms “Outperform” Rating for AeroVironment (NASDAQ:AVAV)

Royal Bank of Canada restated their outperform rating on shares of AeroVironment (NASDAQ:AVAV) in a research report report published on Thursday, Benzinga reports. They currently have a $200.00 price objective on the aerospace company’s stock.

AVAV has been the topic of a number of other reports. William Blair reaffirmed an outperform rating on shares of AeroVironment in a report on Tuesday, March 5th. BTIG Research began coverage on AeroVironment in a research report on Wednesday. They set a buy rating and a $255.00 target price for the company. Finally, Robert W. Baird reiterated a neutral rating and set a $161.00 target price on shares of AeroVironment in a research report on Friday, March 8th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $175.20.

AeroVironment Stock Up 2.4 %

AVAV stock opened at $182.16 on Thursday. The company has a current ratio of 3.56, a quick ratio of 3.16 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $5.13 billion, a PE ratio of 82.05 and a beta of 0.46. AeroVironment has a 1-year low of $91.00 and a 1-year high of $224.00. The business’s 50 day simple moving average is $190.43 and its 200 day simple moving average is $154.38.

AeroVironment (NASDAQ:AVAV) last issued its quarterly earnings data on Wednesday, June 26th. The aerospace company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.22. AeroVironment had a return on equity of 10.89% and a net margin of 8.32%. The firm had revenue of $197.00 million for the quarter, compared to analyst estimates of $188.48 million. During the same period in the prior year, the firm posted $0.99 EPS. The company’s revenue for the quarter was up 5.9% on a year-over-year basis. As a group, research analysts anticipate that AeroVironment will post 3.36 EPS for the current year.

Institutional Trading of AeroVironment

Several institutional investors and hedge funds have recently modified their holdings of AVAV. Vanguard Group Inc. lifted its position in shares of AeroVironment by 7.9% during the 3rd quarter. Vanguard Group Inc. now owns 2,860,954 shares of the aerospace company’s stock worth $319,082,000 after buying an additional 209,359 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of AeroVironment by 3,565.5% during the 4th quarter. Victory Capital Management Inc. now owns 171,288 shares of the aerospace company’s stock worth $21,589,000 after buying an additional 166,615 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of AeroVironment during the 4th quarter worth $20,287,000. Wellington Management Group LLP lifted its position in shares of AeroVironment by 187.5% during the 4th quarter. Wellington Management Group LLP now owns 221,749 shares of the aerospace company’s stock worth $27,949,000 after buying an additional 144,628 shares during the last quarter. Finally, Axiom Investors LLC DE lifted its position in shares of AeroVironment by 756.3% during the 4th quarter. Axiom Investors LLC DE now owns 102,155 shares of the aerospace company’s stock worth $12,876,000 after buying an additional 90,225 shares during the last quarter. 86.38% of the stock is currently owned by institutional investors.

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.