Cerity Partners LLC purchased a new stake in shares of AeroVironment, Inc. (NASDAQ:AVAV – Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 335 shares of the aerospace company’s stock, valued at approximately $459,000.
A number of other hedge funds also recently made changes to their positions in AVAV. Cambridge Investment Research Advisors Inc. raised its holdings in AeroVironment by 60.5% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 8,134 shares of the aerospace company’s stock worth $766,000 after purchasing an additional 3,066 shares in the last quarter. PNC Financial Services Group Inc. grew its position in AeroVironment by 54.1% in the first quarter. PNC Financial Services Group Inc. now owns 3,679 shares of the aerospace company’s stock worth $348,000 after buying an additional 1,291 shares during the last quarter. Natixis Advisors L.P. grew its position in AeroVironment by 20.3% in the first quarter. Natixis Advisors L.P. now owns 18,444 shares of the aerospace company’s stock worth $1,736,000 after buying an additional 3,117 shares during the last quarter. Bank of Montreal Can grew its position in AeroVironment by 14.8% in the first quarter. Bank of Montreal Can now owns 6,918 shares of the aerospace company’s stock worth $656,000 after buying an additional 894 shares during the last quarter. Finally, MetLife Investment Management LLC grew its position in AeroVironment by 41.4% in the first quarter. MetLife Investment Management LLC now owns 11,831 shares of the aerospace company’s stock worth $1,114,000 after buying an additional 3,466 shares during the last quarter. Institutional investors own 86.58% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities analysts have weighed in on the stock. Royal Bank of Canada lifted their price objective on shares of AeroVironment from $115.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday. StockNews.com initiated coverage on shares of AeroVironment in a research note on Thursday, August 17th. They set a “hold” rating for the company. Robert W. Baird raised shares of AeroVironment from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $95.00 to $128.00 in a research note on Wednesday. William Blair reissued an “outperform” rating on shares of AeroVironment in a research note on Wednesday. Finally, Jefferies Financial Group initiated coverage on shares of AeroVironment in a research note on Thursday, June 15th. They set a “buy” rating and a $115.00 target price for the company. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $121.60.
AeroVironment Stock Performance
NASDAQ:AVAV opened at $115.05 on Thursday. The firm’s 50-day moving average is $96.44 and its 200-day moving average is $96.72. AeroVironment, Inc. has a 52-week low of $74.91 and a 52-week high of $124.33. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.79 and a current ratio of 3.93. The company has a market cap of $3.02 billion, a price-to-earnings ratio of -16.55 and a beta of 0.58.
AeroVironment (NASDAQ:AVAV – Get Free Report) last posted its quarterly earnings data on Tuesday, September 5th. The aerospace company reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.74. AeroVironment had a negative net margin of 32.60% and a positive return on equity of 5.25%. The company had revenue of $152.35 million for the quarter, compared to the consensus estimate of $128.50 million. During the same quarter in the previous year, the firm posted ($0.10) EPS. The business’s revenue was up 40.4% compared to the same quarter last year. Equities research analysts anticipate that AeroVironment, Inc. will post 2.79 earnings per share for the current year.
AeroVironment 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.
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