AeroVironment (NASDAQ:AVAV) Coverage Initiated at The Goldman Sachs Group

Investment analysts at The Goldman Sachs Group initiated coverage on shares of AeroVironment (NASDAQ:AVAV) in a research report issued to clients and investors on Monday, MarketBeat.com reports. The brokerage set a “buy” rating and a $301.00 price target on the aerospace company’s stock. The Goldman Sachs Group’s price target points to a potential upside of 19.26% from the company’s previous close.

Several other brokerages have also recently issued reports on AVAV. BTIG Research increased their target price on AeroVironment from $225.00 to $300.00 and gave the company a “buy” rating in a research report on Tuesday, June 24th. Oppenheimer restated an “outperform” rating on shares of AeroVironment in a research note on Sunday. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $190.00 price objective on shares of AeroVironment in a research report on Monday, May 12th. Wall Street Zen upgraded AeroVironment from a “sell” rating to a “hold” rating in a research note on Sunday, June 22nd. Finally, Robert W. Baird increased their price target on shares of AeroVironment from $146.00 to $210.00 and gave the company an “outperform” rating in a research report on Friday, June 6th. One analyst has rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $234.00.

AeroVironment Stock Performance

Shares of AeroVironment stock opened at $252.40 on Monday. The company has a current ratio of 3.52, a quick ratio of 2.69 and a debt-to-equity ratio of 0.03. The stock’s fifty day moving average price is $182.02 and its 200-day moving average price is $161.76. The firm has a market cap of $7.12 billion, a P/E ratio of 162.84 and a beta of 0.95. AeroVironment has a 12 month low of $102.25 and a 12 month high of $295.90.

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

Hedge Funds Weigh In On AeroVironment

Several hedge funds have recently modified their holdings of the stock. CoreCap Advisors LLC grew its position in AeroVironment by 120.2% during the 4th quarter. CoreCap Advisors LLC now owns 185 shares of the aerospace company’s stock worth $28,000 after purchasing an additional 101 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in shares of AeroVironment by 171.1% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 244 shares of the aerospace company’s stock worth $29,000 after buying an additional 154 shares during the period. Colonial Trust Advisors acquired a new stake in shares of AeroVironment during the fourth quarter worth $31,000. Accredited Wealth Management LLC purchased a new stake in shares of AeroVironment during the fourth quarter valued at $31,000. Finally, Spirit of America Management Corp NY purchased a new stake in shares of AeroVironment during the first quarter valued at $36,000. 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.