AeroVironment (NASDAQ:AVAV) Given Outperform Rating at Royal Bank of Canada

AeroVironment (NASDAQ:AVAV)‘s stock had its “outperform” rating reaffirmed by equities researchers at Royal Bank of Canada in a report released on Monday,Benzinga reports. They presently have a $190.00 price target on the aerospace company’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 13.74% from the company’s previous close.

Other research analysts have also issued reports about the stock. Robert W. Baird dropped their price objective on shares of AeroVironment from $220.00 to $146.00 and set an “outperform” rating for the company in a research note on Wednesday, March 5th. William Blair restated an “outperform” rating on shares of AeroVironment in a report on Wednesday, March 5th. Jefferies Financial Group decreased their price objective 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. Finally, Raymond James upgraded shares of AeroVironment from a “market perform” rating to a “strong-buy” rating and set a $200.00 target price on the stock in a research note on Tuesday, April 8th. Six research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $197.83.

AeroVironment Trading Up 1.0%

NASDAQ AVAV traded up $1.58 on Monday, hitting $167.05. 125,078 shares of the stock were exchanged, compared to its average volume of 410,374. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.36 and a current ratio of 4.61. The stock has a fifty day moving average price of $136.79 and a two-hundred day moving average price of $163.33. The firm has a market capitalization of $4.71 billion, a P/E ratio of 95.92 and a beta of 0.80. AeroVironment has a 52-week low of $102.25 and a 52-week high of $236.60.

Insider Activity

In other AeroVironment news, CEO Wahid Nawabi sold 29,366 shares of AeroVironment stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $128.20, for a total transaction of $3,764,721.20. Following the completion of the transaction, the chief executive officer now owns 115,174 shares in the company, valued at approximately $14,765,306.80. This trade represents a 20.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.27% of the company’s stock.

Hedge Funds Weigh In On AeroVironment

Several institutional investors and hedge funds have recently modified their holdings of AVAV. Townsquare Capital LLC lifted its position in AeroVironment by 7.3% during the first quarter. Townsquare Capital LLC now owns 18,541 shares of the aerospace company’s stock worth $2,210,000 after buying an additional 1,257 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in AeroVironment by 4.1% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 9,438 shares of the aerospace company’s stock valued at $1,125,000 after buying an additional 375 shares during the period. Headlands Technologies LLC acquired a new position in AeroVironment in the first quarter valued at about $90,000. Charles Schwab Investment Management Inc. boosted its stake in AeroVironment by 0.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 265,102 shares of the aerospace company’s stock worth $31,598,000 after buying an additional 1,029 shares during the period. Finally, Atria Wealth Solutions Inc. acquired a new stake in shares of AeroVironment during the first quarter valued at about $326,000. Hedge funds and other 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.