AeroVironment (AVAV) Tops Q3 EPS by 22c

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AeroVironment (AVAV) Shows Improvement in Profitability - Piper Jaffray

March 9, 2016 6:52 AM EST

Piper Jaffray analyst, Troy Jensen, noted that AeroVironment Inc. (NASDAQ: AVAV) posted another solid quarter, where UAS revenues grew at a healthy clip and good cost controls allowed the company to comfortably exceed the Streets EPS expectations. The core UAS business remains the primary driver of topline growth and he believes the pipeline remains robust from both U.S. and international customers. No change to Overweight rating but raising the PT to $36 from $35 on a 2x EV/S multiple.

Revenues of $67.6M were down 1.2% on... More