Today Piper Jaffray Reconfirms a Overweight Rating on AeroVironment (NASDAQ:AVAV) and a $35.0 Target Price


AeroVironment (NASDAQ:AVAV) Rating Reaffirmed

The brokerage has just set a target PPS of $35.0 on AeroVironment (NASDAQ:AVAV) shares. This is 43.03% from the last stock close price. In analysts note revealed to clients and investors on Wednesday morning, Piper Jaffray maintained their Overweight rating on shares of AVAV.

From a total of 5 analysts covering AeroVironment (NASDAQ:AVAV) stock, 3 rate it a ”Buy”, 0 a “Sell”, and 5 a ”Hold”. This means that 38% of the ratings are positive. The highest target price is $35 while the lowest target price is $24. The mean of all analyst targets is $29 with a -13.28% below today’s ($28.83) stock price. AeroVironment was the topic of 6 analyst reports since August 21, 2015 according to the firm StockzIntelligence Inc. Piper Jaffray upgraded shares on September 14 to “Overweight” rating. Canaccord Genuity maintained AVAV stock in a recent report from September 2 with “Hold” rating.

Approximately 429,788 shares of stock traded hands or 201.63% up from the average. AeroVironment, Inc. (NASDAQ:AVAV) has declined 3.47% since May 6, 2015 and is downtrending. It has underperformed by 2.68% the S&P500.

The overall sentiment of institutions has increased to 1.32 in Q2 2015. Its up 0.22, from 1.1 in 2015Q2. The ratio increased, as 18 institutions have sold all the shares of AeroVironment, Inc. that they owned while 26 funds have taken shares off the table. 3 funds have purchased shares for the first time while 55 added to their positions. These institutions now hold 24.25 million shares or 70.69% more than the 14.21 million shares they owned in 2015Q2.

The Fund Hcsf Management Llc currently is holding shares equating to 10.8% of its total portfolio in AeroVironment, Inc. representing a total of 510,000 shares. Another fund,Black Creek Investment Management Inc., is holding a total of 834,182 shares equating to 2.2% of their holdings. Additionally, Awm Investment Company Inc. has a 467,909 share stake in AeroVironment, Inc. which represents 1.82% of their total portfolio. The Fund, American Capital Management Inc, based out of New York, has also built up a stake in the stock, which represents a total of 1.4% of their total portfolio. Finally Sophrosyne Capital Llc, a fund which is based in the state of New York reported a total holdings of 6,000 shares.

Insider activity is a very important aspect to track on any stock. Going back to April 8, 2015, shareholders of AeroVironment, Inc. have witnessed 0 buys, and a total of 5 insider sales equating to a net activity of approximately $116,709 . Nawabi Wahid sold 558 shares worth approximately $11,830. Scott Douglas E sold 1,663 shares worth approximately $35,256. Cline Cathleen S sold 216 shares worth approximately $4,579. Minson Roy E. sold 838 shares worth approximately $22,458.

AeroVironment, Inc. designs, develops, produces, supports and operates a portfolio of services and products for Government agencies, businesses and consumers. The company has a market cap of $678.63 million. The Firm supplies unmanned aircraft systems, tactical missile systems and related services primarily to organizations within the United States Department of Defense . It currently has negative earnings. The Firm operates through two divisions: Unmanned Aircraft Systems, which focuses primarily on the design, development, production, support and operation of UAS and tactical missile systems that provide situational awareness, multi-band communications, force protection and other mission effects to the activities of the Company’s customers, and Efficient Energy Systems (EES), which focuses primarily on the design, development, production, marketing, support and operation of electric energy systems.

According to Zacks Investment Research, “Building on a history of technological innovation, AEROVIRONMENT INC., designs, develops, produces, and supports an advanced portfolio of Unmanned Aircraft Systems and efficient electric energy systems. The company’s small UAS are used extensively by agencies of the U.S. Department of Defense and increasingly by allied military services to provide situational awareness to tactical operating units through real-time, airborne reconnaissance, surveillance, and target acquisition. AV’s PosiCharge fast charge systems eliminate battery changing for electric industrial vehicles in factories, airports, and distribution centers.” Get a free copy of the Zacks research report on AeroVironment, Inc. (AVAV).