AeroVironment (NASDAQ:AVAV – Get Free Report) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided earnings per share guidance of 2.460-2.700 for the period, compared to the consensus earnings per share estimate of 2.720. The company issued revenue guidance of $685.0 million-$705.0 million, compared to the consensus revenue estimate of $676.6 million.

Analysts Set New Price Targets

A number of brokerages have issued reports on AVAV. Robert W. Baird increased their price objective on shares of AeroVironment from $128.00 to $152.00 and gave the company an outperform rating in a report on Monday, November 27th. Alembic Global Advisors cut shares of AeroVironment from an overweight rating to a neutral rating and set a $115.00 target price for the company. in a research note on Thursday, September 7th. StockNews.com initiated coverage on shares of AeroVironment in a research note on Thursday, October 5th. They issued a hold rating on the stock. Raymond James increased their price objective on shares of AeroVironment from $125.00 to $145.00 and gave the company an outperform rating in a report on Thursday. Finally, William Blair reaffirmed an outperform rating on shares of AeroVironment in a report on Wednesday, September 6th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, AeroVironment presently has an average rating of Moderate Buy and an average target price of $127.00.

Check Out Our Latest Report on AVAV

AeroVironment Price Performance

Shares of AeroVironment stock traded down $1.57 during trading hours on Monday, reaching $123.22. The company’s stock had a trading volume of 188,889 shares, compared to its average volume of 228,227. The firm has a 50 day moving average price of $121.19 and a 200-day moving average price of $106.86. The company has a debt-to-equity ratio of 0.09, a current ratio of 4.79 and a quick ratio of 2.86. The stock has a market cap of $3.47 billion, a P/E ratio of -25.78 and a beta of 0.52. AeroVironment has a one year low of $80.71 and a one year high of $143.99.

AeroVironment (NASDAQ:AVAV – Get Free Report) last released its quarterly earnings results on Tuesday, December 5th. The aerospace company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.62 by $0.35. AeroVironment had a positive return on equity of 13.53% and a negative net margin of 18.58%. The company had revenue of $180.80 million during the quarter, compared to analyst estimates of $170.91 million. The company’s quarterly revenue was up 62.0% on a year-over-year basis. On average, analysts predict that AeroVironment will post 2.76 EPS for the current year.

Institutional Trading of AeroVironment

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. increased its position in AeroVironment by 1.1% during the second quarter. BlackRock Inc. now owns 4,468,250 shares of the aerospace company’s stock valued at $457,013,000 after acquiring an additional 50,580 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of AeroVironment by 3.2% during the 3rd quarter. Vanguard Group Inc. now owns 2,583,102 shares of the aerospace company’s stock worth $215,328,000 after purchasing an additional 80,680 shares during the period. State Street Corp grew its holdings in AeroVironment by 1.2% during the 3rd quarter. State Street Corp now owns 1,430,804 shares of the aerospace company’s stock valued at $119,272,000 after purchasing an additional 16,440 shares during the last quarter. Stephens Investment Management Group LLC raised its position in AeroVironment by 13.6% in the 2nd quarter. Stephens Investment Management Group LLC now owns 846,708 shares of the aerospace company’s stock worth $86,601,000 after purchasing an additional 101,681 shares during the period. Finally, Baillie Gifford & Co. lifted its stake in AeroVironment by 4.8% in the fourth quarter. Baillie Gifford & Co. now owns 759,638 shares of the aerospace company’s stock worth $65,071,000 after purchasing an additional 34,794 shares during the last quarter. Hedge funds and other institutional investors own 86.58% of the company’s stock.

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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Original: MarketBeat News Feed: AeroVironment (NASDAQ:AVAV) Issues FY 2024 Earnings Guidance