Aveanna Healthcare (NASDAQ:AVAH) Reaches New 1-Year High – Time to Buy?

Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH)’s share price hit a new 52-week high on Wednesday . The company traded as high as $12.76 and last traded at $12.67, with a volume of 5047142 shares. The stock had previously closed at $12.69.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on AVAH shares. Barclays lifted their target price on shares of Aveanna Healthcare from $9.00 to $9.50 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Wall Street Zen downgraded Aveanna Healthcare from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 15th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Aveanna Healthcare in a research note on Thursday, July 2nd. UBS Group increased their target price on Aveanna Healthcare from $8.00 to $13.00 and gave the company a “neutral” rating in a research note on Friday, August 14th. Finally, Raymond James Financial raised their target price on Aveanna Healthcare from $13.00 to $15.00 and gave the company a “strong-buy” rating in a report on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.78.

Aveanna Healthcare Stock Performance

The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 4.47. The firm has a 50-day moving average of $9.46 and a 200 day moving average of $7.88. The stock has a market capitalization of $2.83 billion, a P/E ratio of 10.54, a PEG ratio of 0.92 and a beta of 1.90.

Aveanna Healthcare (NASDAQ:AVAH) last announced its quarterly earnings results on Thursday, August 13th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.05. The firm had revenue of $670.48 million for the quarter, compared to analyst estimates of $638.61 million. Aveanna Healthcare had a net margin of 10.56% and a return on equity of 80.70%. Research analysts anticipate that Aveanna Healthcare Holdings Inc. will post 0.68 EPS for the current fiscal year.

Insider Activity at Aveanna Healthcare

In related news, major shareholder Robert M. Williams, Jr. sold 3,000,000 shares of the stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $8.01, for a total value of $24,030,000.00. Following the completion of the transaction, the insider owned 190,130 shares of the company’s stock, valued at $1,522,941.30. This represents a 94.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder J.H. Whitney Equity Partners V sold 2,419,035 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $8.01, for a total transaction of $19,376,470.35. Following the transaction, the insider owned 10,112,123 shares of the company’s stock, valued at approximately $80,998,105.23. This represents a 19.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 31,180,664 shares of company stock valued at $214,607,160 over the last quarter. 5.30% of the stock is owned by company insiders.

Institutional Trading of Aveanna Healthcare

Institutional investors have recently bought and sold shares of the stock. AQR Capital Management LLC raised its stake in Aveanna Healthcare by 21.2% during the first quarter. AQR Capital Management LLC now owns 26,280 shares of the company’s stock worth $142,000 after acquiring an additional 4,602 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Aveanna Healthcare by 8.3% during the first quarter. Goldman Sachs Group Inc. now owns 339,853 shares of the company’s stock valued at $1,842,000 after acquiring an additional 25,974 shares during the period. Jane Street Group LLC boosted its stake in shares of Aveanna Healthcare by 522.0% in the 1st quarter. Jane Street Group LLC now owns 75,081 shares of the company’s stock valued at $407,000 after purchasing an additional 63,010 shares in the last quarter. Creative Planning boosted its stake in shares of Aveanna Healthcare by 15.1% in the 2nd quarter. Creative Planning now owns 47,025 shares of the company’s stock valued at $246,000 after purchasing an additional 6,171 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Aveanna Healthcare by 65.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 158,265 shares of the company’s stock worth $828,000 after purchasing an additional 62,348 shares during the last quarter. Institutional investors and hedge funds own 87.96% of the company’s stock.

Aveanna Healthcare Company Profile

Aveanna Healthcare, Inc (NASDAQ: AVAH) is a national provider of in-home health care services, specializing in pediatric skilled nursing, therapy, and related support for medically complex and chronically ill children. The company delivers a range of clinical and therapeutic solutions designed to enable patients to receive care in the comfort of their own homes, reducing the need for hospital stays and long-term institutional care. Aveanna’s offerings include registered nursing, physical, occupational and speech therapy, behavioral health counseling, and durable medical equipment coordination.

In addition to pediatric home health services, Aveanna operates adult home health and personal care support programs, assisting elderly and disabled adults with daily living activities, medication management, and rehabilitation therapies.