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

Royal Bank of Canada reissued their outperform rating on shares of AeroVironment (NASDAQ:AVAV) in a research report report published on Thursday, Benzinga reports. The firm currently has a $200.00 price target on the aerospace company’s stock.

Other research analysts have also issued research reports about the company. BTIG Research assumed coverage on AeroVironment in a research report on Wednesday. They issued a buy rating and a $255.00 target price for the company. William Blair reissued an outperform rating on shares of AeroVironment in a research report on Tuesday, March 5th. Finally, Robert W. Baird reissued a neutral rating and issued a $161.00 target price on shares of AeroVironment in a research report on Friday, March 8th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $175.20.

AeroVironment Trading Up 2.4 %

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

AeroVironment (NASDAQ:AVAV) last released its quarterly earnings data on Wednesday, June 26th. The aerospace company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.22. AeroVironment had a return on equity of 10.89% and a net margin of 8.32%. The business had revenue of $197.00 million during the quarter, compared to analysts’ expectations of $188.48 million. During the same quarter last year, the business posted $0.99 EPS. The business’s revenue was up 5.9% on a year-over-year basis. As a group, sell-side analysts anticipate that AeroVironment will post 3.36 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets increased its position in AeroVironment by 160.7% during the 4th quarter. BNP Paribas Financial Markets now owns 90,946 shares of the aerospace company’s stock valued at $11,463,000 after buying an additional 56,062 shares in the last quarter. Congress Asset Management Co. MA boosted its stake in AeroVironment by 5.9% during the 4th quarter. Congress Asset Management Co. MA now owns 322,445 shares of the aerospace company’s stock valued at $40,641,000 after purchasing an additional 17,985 shares during the last quarter. Wellington Management Group LLP boosted its stake in AeroVironment by 26.4% during the 3rd quarter. Wellington Management Group LLP now owns 77,121 shares of the aerospace company’s stock valued at $8,601,000 after purchasing an additional 16,107 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in AeroVironment by 119.6% during the 4th quarter. Janney Montgomery Scott LLC now owns 13,717 shares of the aerospace company’s stock valued at $1,729,000 after purchasing an additional 7,470 shares during the last quarter. Finally, Avantax Advisory Services Inc. boosted its stake in AeroVironment by 2.6% during the 4th quarter. Avantax Advisory Services Inc. now owns 3,813 shares of the aerospace company’s stock valued at $481,000 after purchasing an additional 95 shares during the last quarter. Institutional investors 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.