AeroVironment’s (AVAV) “Outperform” Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of AeroVironment (NASDAQ:AVAV) in a report published on Monday,Benzinga reports. Royal Bank of Canada currently has a $190.00 price target on the aerospace company’s stock.

Several other research analysts have also recently issued reports on the stock. William Blair reiterated an “outperform” rating on shares of AeroVironment in a report on Wednesday, March 5th. Jefferies Financial Group decreased their price target on shares of AeroVironment from $230.00 to $190.00 and set a “buy” rating on the stock in a research report on Wednesday, March 5th. Robert W. Baird decreased their price target on shares of AeroVironment from $220.00 to $146.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 5th. Finally, Raymond James upgraded shares of AeroVironment from a “market perform” rating to a “strong-buy” rating and set a $200.00 price target on the stock in a research report on Tuesday, April 8th. Six research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $197.83.

AeroVironment Price Performance

Shares of NASDAQ:AVAV opened at $163.82 on Monday. The firm’s 50 day moving average is $138.68 and its two-hundred day moving average is $162.98. AeroVironment has a 52 week low of $102.25 and a 52 week high of $236.60. The firm has a market capitalization of $4.62 billion, a P/E ratio of 94.15 and a beta of 0.80. The company has a current ratio of 4.61, a quick ratio of 3.36 and a debt-to-equity ratio of 0.02.

Insiders Place Their Bets

In related news, CEO Wahid Nawabi sold 29,366 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $128.20, for a total value of $3,764,721.20. Following the completion of the transaction, the chief executive officer now owns 115,174 shares of the company’s stock, valued at approximately $14,765,306.80. This trade represents a 20.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.27% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On AeroVironment

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AVAV. Barclays PLC boosted its stake in AeroVironment by 149.7% in the 3rd quarter. Barclays PLC now owns 57,245 shares of the aerospace company’s stock worth $11,477,000 after purchasing an additional 34,318 shares during the period. Franklin Resources Inc. boosted its stake in AeroVironment by 299.4% in the 3rd quarter. Franklin Resources Inc. now owns 4,821 shares of the aerospace company’s stock worth $1,037,000 after purchasing an additional 3,614 shares during the period. JPMorgan Chase & Co. boosted its stake in AeroVironment by 4.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 38,585 shares of the aerospace company’s stock worth $7,736,000 after purchasing an additional 1,705 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of AeroVironment by 740.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 63,919 shares of the aerospace company’s stock valued at $9,836,000 after buying an additional 56,318 shares during the period. Finally, Park Avenue Securities LLC purchased a new position in shares of AeroVironment during the 4th quarter valued at $212,000. Institutional investors and hedge funds own 86.38% of the company’s stock.

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.