AeroVironment (NASDAQ:AVAV) Stock Price Down 5.6% - Here's Why

AeroVironment, Inc. (NASDAQ:AVAV - Get Free Report)'s share price traded down 5.6% on Wednesday . The company traded as low as $168.80 and last traded at $169.35. 223,255 shares changed hands during mid-day trading, a decline of 33% from the average session volume of 333,794 shares. The stock had previously closed at $179.35.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. William Blair restated an "outperform" rating on shares of AeroVironment in a research note on Thursday, December 5th. Jefferies Financial Group upgraded AeroVironment from a "hold" rating to a "buy" rating and decreased their target price for the stock from $240.00 to $230.00 in a report on Wednesday, November 20th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $225.20.

AeroVironment Stock Performance

The stock has a 50 day simple moving average of $166.59 and a 200 day simple moving average of $186.18. The company has a quick ratio of 3.36, a current ratio of 4.61 and a debt-to-equity ratio of 0.02. The company has a market cap of $4.38 billion, a price-to-earnings ratio of 89.25 and a beta of 0.52.

AeroVironment (NASDAQ:AVAV - Get Free Report) last released its quarterly earnings results on Wednesday, December 4th. The aerospace company reported $0.47 earnings per share for the quarter, missing analysts' consensus estimates of $0.76 by ($0.29). AeroVironment had a return on equity of 8.12% and a net margin of 6.39%. The company had revenue of $188.46 million during the quarter, compared to analysts' expectations of $181.80 million. During the same quarter in the prior year, the company earned $0.97 EPS. The firm's revenue was up 4.2% compared to the same quarter last year. As a group, analysts predict that AeroVironment, Inc. will post 3.38 EPS for the current year.

Insider Activity at AeroVironment

In related news, CFO Kevin Patrick Mcdonnell sold 396 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $198.73, for a total value of $78,697.08. Following the completion of the transaction, the chief financial officer now owns 16,472 shares of the company's stock, valued at approximately $3,273,480.56. This represents a 2.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed 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

A number of institutional investors have recently made changes to their positions in the business. Franklin Resources Inc. grew its position in shares of AeroVironment by 299.4% during the third quarter. Franklin Resources Inc. now owns 4,821 shares of the aerospace company's stock worth $1,037,000 after buying an additional 3,614 shares in the last quarter. Congress Asset Management Co. grew its holdings in AeroVironment by 10.9% during the 4th quarter. Congress Asset Management Co. now owns 333,193 shares of the aerospace company's stock worth $51,275,000 after acquiring an additional 32,663 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its position in shares of AeroVironment by 22.7% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 3,893 shares of the aerospace company's stock worth $599,000 after purchasing an additional 721 shares during the last quarter. Stratos Wealth Partners LTD. acquired a new stake in shares of AeroVironment in the 4th quarter valued at about $333,000. Finally, KBC Group NV lifted its position in shares of AeroVironment by 63.3% during the fourth quarter. KBC Group NV now owns 1,231 shares of the aerospace company's stock worth $189,000 after purchasing an additional 477 shares during the last quarter. 86.38% of the stock is owned by institutional investors and hedge funds.

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.