AeroVironment (NASDAQ:AVAV – Get Rating) updated its FY 2023 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $1.35-$1.65 for the period, compared to the consensus estimate of $1.52. The company issued revenue guidance of $490.00 million-$520.00 million, compared to the consensus revenue estimate of $509.39 million.
Wall Street Analyst Weigh In
Several research firms have commented on AVAV. Canaccord Genuity Group raised their price objective on AeroVironment from $85.00 to $90.00 and gave the stock a buy rating in a report on Wednesday, June 29th. Royal Bank of Canada lifted their price target on AeroVironment from $100.00 to $115.00 in a report on Monday, August 22nd. Alembic Global Advisors upgraded AeroVironment from a neutral rating to an overweight rating and set a $103.00 price target on the stock in a report on Friday, July 1st. Canaccord Genuity Group lifted their price target on AeroVironment from $85.00 to $90.00 and gave the company a buy rating in a report on Wednesday, June 29th. Finally, StockNews.com upgraded AeroVironment from a sell rating to a hold rating in a report on Wednesday, August 31st. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $89.00.
Get AeroVironment alerts:AeroVironment Stock Down 1.2 %
AeroVironment stock opened at $88.65 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.73 and a quick ratio of 2.70. The stock has a market capitalization of $2.22 billion, a price-to-earnings ratio of 1,773.35 and a beta of 0.50. AeroVironment has a 1-year low of $52.03 and a 1-year high of $114.11. The business has a fifty day moving average price of $91.44 and a 200-day moving average price of $89.38.
AeroVironment (NASDAQ:AVAV – Get Rating) last posted its quarterly earnings data on Wednesday, September 7th. The aerospace company reported ($0.10) earnings per share for the quarter, missing analysts' consensus estimates of $0.09 by ($0.19). AeroVironment had a return on equity of 5.39% and a net margin of 0.31%. The business had revenue of $108.52 million during the quarter, compared to analyst estimates of $103.41 million. During the same period in the previous year, the business earned ($0.17) EPS. The firm's revenue for the quarter was up 7.4% compared to the same quarter last year. Equities research analysts forecast that AeroVironment will post 1.56 EPS for the current fiscal year.Insiders Place Their Bets
In other AeroVironment news, CAO Brian Charles Shackley sold 500 shares of AeroVironment stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $100.39, for a total transaction of $50,195.00. Following the completion of the sale, the chief accounting officer now owns 3,382 shares of the company's stock, valued at approximately $339,518.98. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other AeroVironment news, CAO Brian Charles Shackley sold 500 shares of AeroVironment stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $100.39, for a total transaction of $50,195.00. Following the completion of the sale, the chief accounting officer now owns 3,382 shares of the company's stock, valued at approximately $339,518.98. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Charles Thomas Burbage sold 7,324 shares of AeroVironment stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $94.68, for a total value of $693,436.32. Following the sale, the director now directly owns 47,602 shares of the company's stock, valued at approximately $4,506,957.36. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,826 shares of company stock valued at $1,323,206. 1.80% of the stock is owned by company insiders.
Hedge Funds Weigh In On AeroVironment
Institutional investors and hedge funds have recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. increased its stake in shares of AeroVironment by 60.5% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 8,134 shares of the aerospace company's stock valued at $766,000 after purchasing an additional 3,066 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in AeroVironment by 54.1% during the 1st 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 in the last quarter. Natixis Advisors L.P. increased its stake in AeroVironment by 20.3% during the 1st 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 in the last quarter. Bank of Montreal Can increased its stake in AeroVironment by 14.8% during the 1st 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 in the last quarter. Finally, MetLife Investment Management LLC increased its stake in AeroVironment by 41.4% during the 1st 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 in the last quarter. Institutional investors and hedge funds own 88.40% of the company's stock.
AeroVironment Company Profile
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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 four segments: Unmanned Aircraft Systems (UAS), Tactical Missile System (TMS), Medium Unmanned Aircraft Systems (MUAS), and High Altitude Pseudo-Satellite Systems (HAPS).
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