Royal Bank Of Canada Increases AeroVironment (NASDAQ:AVAV) Price Target to $275.00

AeroVironment (NASDAQ:AVAV) had its target price hoisted by Royal Bank Of Canada from $200.00 to $275.00 in a research report report published on Thursday morning,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the aerospace company’s stock.

A number of other equities analysts have also weighed in on the stock. Wedbush upgraded shares of AeroVironment to an “outperform” rating in a report on Wednesday, June 25th. BTIG Research boosted their price objective on shares of AeroVironment from $225.00 to $300.00 and gave the stock a “buy” rating in a report on Tuesday, June 24th. Raymond James Financial set a $225.00 price objective on shares of AeroVironment and gave the stock a “strong-buy” rating in a report on Wednesday, June 25th. Stifel Nicolaus started coverage on shares of AeroVironment in a report on Tuesday, June 24th. They issued a “buy” rating and a $240.00 price objective for the company. Finally, KeyCorp started coverage on shares of AeroVironment in a report on Sunday. They issued an “overweight” rating for the company. One investment analyst has rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $256.50.

AeroVironment Price Performance

AVAV stock opened at $245.95 on Thursday. The firm has a 50 day moving average price of $185.96 and a 200-day moving average price of $162.87. AeroVironment has a 52-week low of $102.25 and a 52-week high of $295.90. The firm has a market capitalization of $11.24 billion, a price-to-earnings ratio of 158.68 and a beta of 0.96. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.69 and a current ratio of 3.52.

AeroVironment (NASDAQ:AVAV) last released its earnings results on Tuesday, June 24th. The aerospace company reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.20. AeroVironment had a net margin of 5.32% and a return on equity of 10.68%. The firm had revenue of $275.05 million during the quarter, compared to analyst estimates of $242.69 million. During the same period last year, the business earned $0.43 earnings per share. The business’s revenue was up 39.6% on a year-over-year basis. Equities research analysts forecast that AeroVironment will post 3.38 EPS for the current fiscal year.

Institutional Investors Weigh In On AeroVironment

Hedge funds have recently added to or reduced their stakes in the stock. CoreCap Advisors LLC raised its stake in AeroVironment by 120.2% during the 4th quarter. CoreCap Advisors LLC now owns 185 shares of the aerospace company’s stock valued at $28,000 after buying an additional 101 shares during the last quarter. Colonial Trust Advisors purchased a new stake in AeroVironment during the 4th quarter valued at $31,000. Accredited Wealth Management LLC purchased a new stake in AeroVironment during the 4th quarter valued at $31,000. MassMutual Private Wealth & Trust FSB raised its stake in AeroVironment by 171.1% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 244 shares of the aerospace company’s stock valued at $29,000 after buying an additional 154 shares during the last quarter. Finally, Spirit of America Management Corp NY purchased a new stake in AeroVironment during the 1st quarter valued at $36,000. 86.38% of the stock is currently owned by hedge funds and other institutional investors.

AeroVironment Company Profile

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.