Aveanna Healthcare (NASDAQ:AVAH) Sets New 1-Year High Following Analyst Upgrade

Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH)’s share price reached a new 52-week high on Tuesday after Truist Financial raised their price target on the stock from $11.00 to $15.00. Truist Financial currently has a hold rating on the stock. Aveanna Healthcare traded as high as $13.98 and last traded at $13.70, with a volume of 5371630 shares changing hands. The stock had previously closed at $13.16.

Other equities research analysts have also issued reports about the company. Barclays lifted their price target on Aveanna Healthcare from $9.00 to $9.50 and gave the company an “overweight” rating in a research report on Thursday, July 9th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Aveanna Healthcare in a report on Thursday, July 2nd. Wall Street Zen lowered Aveanna Healthcare from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 15th. UBS Group boosted their target price on shares of Aveanna Healthcare from $8.00 to $13.00 and gave the company a “neutral” rating in a report on Friday, August 14th. Finally, Royal Bank Of Canada upped their target price on shares of Aveanna Healthcare from $10.00 to $16.00 and gave the stock an “outperform” rating in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Aveanna Healthcare currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.89.

Insider Buying and Selling

In other Aveanna Healthcare news, CEO Jeff Shaner sold 90,000 shares of the business’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $11.50, for a total value of $1,035,000.00. Following the sale, the chief executive officer directly owned 2,561,972 shares of the company’s stock, valued at approximately $29,462,678. The trade was a 3.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Robert M. Williams, Jr. sold 2,250,000 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $11.50, for a total value of $25,875,000.00. Following the completion of the sale, the insider directly owned 12,315,892 shares in the company, valued at approximately $141,632,758. This represents a 15.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 79,746,745 shares of company stock worth $773,117,091 over the last three months. Corporate insiders own 5.30% of the company’s stock.

Institutional Trading of Aveanna Healthcare

Several institutional investors have recently bought and sold shares of AVAH. Caitong International Asset Management Co. Ltd lifted its stake in shares of Aveanna Healthcare by 252.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,351 shares of the company’s stock worth $27,000 after buying an additional 2,400 shares in the last quarter. Quantbot Technologies LP purchased a new position in Aveanna Healthcare in the 2nd quarter worth approximately $43,000. Summit Securities Group LLC bought a new position in Aveanna Healthcare in the 1st quarter valued at approximately $53,000. Oxford Asset Management LLP bought a new position in Aveanna Healthcare in the 2nd quarter valued at approximately $64,000. Finally, C M Bidwell & Associates Ltd. purchased a new stake in Aveanna Healthcare during the 2nd quarter valued at $69,000. 87.96% of the stock is owned by hedge funds and other institutional investors.

Aveanna Healthcare Trading Up 0.2%

The firm has a market cap of $2.97 billion, a P/E ratio of 11.07, a price-to-earnings-growth ratio of 0.85 and a beta of 1.90. The stock has a fifty day simple moving average of $9.95 and a 200 day simple moving average of $8.03. The company has a debt-to-equity ratio of 4.47, a quick ratio of 1.16 and a current ratio of 1.16.

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 analysts’ consensus estimates of $0.17 by $0.05. Aveanna Healthcare had a return on equity of 80.70% and a net margin of 10.56%.The firm had revenue of $670.48 million for the quarter, compared to the consensus estimate of $638.61 million. On average, research analysts expect that Aveanna Healthcare Holdings Inc. will post 0.75 earnings per share for the current fiscal year.

About Aveanna Healthcare

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.