AeroVironment (NASDAQ:AVAV) Now Covered by The Goldman Sachs Group

by · The Cerbat Gem

Investment analysts at The Goldman Sachs Group assumed coverage on shares of AeroVironment (NASDAQ:AVAV – Get Free Report) in a report issued on Monday,Briefing.com Automated Import reports. The firm set a “buy” rating and a $301.00 price target on the aerospace company’s stock. The Goldman Sachs Group’s target price would indicate a potential upside of 8.25% from the company’s current price.

AVAV has been the subject of several other research reports. Stifel Nicolaus initiated coverage on shares of AeroVironment in a research note on Tuesday, June 24th. They issued a “buy” rating and a $240.00 price objective for the company. Jefferies Financial Group lowered their price target on shares of AeroVironment from $230.00 to $190.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. Robert W. Baird raised their price objective on AeroVironment from $146.00 to $210.00 and gave the company an “outperform” rating in a report on Friday, June 6th. Wedbush upgraded AeroVironment to an “outperform” rating in a research report on Wednesday. Finally, KeyCorp assumed coverage on AeroVironment in a research report on Sunday. They issued an “overweight” rating for the company. One investment analyst has rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, AeroVironment currently has an average rating of “Buy” and an average price target of $234.00.

Read Our Latest Report on AeroVironment

AeroVironment Price Performance

Shares of AVAV stock opened at $278.07 on Monday. The business has a fifty day simple moving average of $177.16 and a 200 day simple moving average of $160.23. The company has a market cap of $7.85 billion, a P/E ratio of 179.40 and a beta of 0.81. The company has a quick ratio of 2.69, a current ratio of 3.52 and a debt-to-equity ratio of 0.03. AeroVironment has a twelve month low of $102.25 and a twelve month high of $285.99.

AeroVironment (NASDAQ:AVAV – Get Free Report) last posted its earnings results on Tuesday, June 24th. The aerospace company reported $1.61 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $242.69 million. During the same quarter in the prior year, the business earned $0.43 earnings per share. The business’s revenue for the quarter was up 39.6% compared to the same quarter last year. On average, sell-side analysts forecast that AeroVironment will post 3.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of AVAV. Bank of America Corp DE lifted its stake in shares of AeroVironment by 17.0% in the fourth quarter. Bank of America Corp DE now owns 45,272 shares of the aerospace company’s stock worth $6,967,000 after acquiring an additional 6,589 shares during the period. Cibc World Markets Corp bought a new position in AeroVironment during the 4th quarter worth approximately $404,000. JPMorgan Chase & Co. raised its holdings in AeroVironment by 415.7% during the 4th quarter. JPMorgan Chase & Co. now owns 198,975 shares of the aerospace company’s stock worth $30,620,000 after purchasing an additional 160,390 shares during the last quarter. Fisher Asset Management LLC lifted its position in shares of AeroVironment by 63.0% in the 4th quarter. Fisher Asset Management LLC now owns 217,806 shares of the aerospace company’s stock worth $33,518,000 after purchasing an additional 84,170 shares during the period. Finally, Norges Bank bought a new stake in shares of AeroVironment in the 4th quarter valued at $37,502,000. 86.38% of the stock is owned by institutional investors and hedge funds.

AeroVironment Company Profile

(Get Free Report)

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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