AeroVironment (NASDAQ:AVAV) Soars on Higher UAS, EES Volumes

Shares of AeroVironment (NASDAQ:AVAV) soared as they beat expectations for revenue and earnings in their latest quarter, with UAS and EES volumes leading the way.

FBR said, "AeroVironment reported F2Q11 results on December 7, 2010, that were better than our expectations for revenues and EPS. The higher EPS were mainly helped by better-than-expected volumes out of both UAS and efficient energy systems (EES). Revenues were higher than our and the consensus estimates, primarily due to product deliveries in the UAS segment being better than we thought, as well as much better volumes within the EES segment."

FBR maintains an "Outperform" rating on AeroVironment, which closed Wednesday at $26.93, up $3.57, or 15.26 percent. They have a price target of $35 on them.