Aveanna Healthcare (NASDAQ:AVAH) Stock Price Expected to Rise, Truist Financial Analyst Says

Aveanna Healthcare (NASDAQ:AVAH) had its price objective raised by stock analysts at Truist Financial from $8.00 to $9.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “hold” rating on the stock. Truist Financial’s price objective points to a potential upside of 19.30% from the stock’s current price.

Several other analysts also recently commented on AVAH. Raymond James Financial upgraded shares of Aveanna Healthcare from an “outperform” rating to a “strong-buy” rating and set a $13.00 price target for the company in a research report on Friday, March 20th. Weiss Ratings downgraded shares of Aveanna Healthcare from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, April 6th. Barclays lowered their price objective on shares of Aveanna Healthcare from $9.50 to $9.00 and set an “overweight” rating on the stock in a research note on Monday. Zacks Research cut shares of Aveanna Healthcare from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 3rd. Finally, BMO Capital Markets decreased their price target on shares of Aveanna Healthcare from $11.00 to $10.00 and set an “outperform” rating on the stock in a research note on Friday, March 20th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Aveanna Healthcare currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.50.

Aveanna Healthcare Stock Down 1.1%

NASDAQ AVAH traded down $0.09 on Wednesday, hitting $7.54. 622,168 shares of the stock were exchanged, compared to its average volume of 1,306,657. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 5.35. Aveanna Healthcare has a fifty-two week low of $3.73 and a fifty-two week high of $10.32. The company has a market cap of $1.64 billion, a PE ratio of 6.41, a PEG ratio of 0.92 and a beta of 1.93. The company has a 50-day moving average price of $6.73 and a 200-day moving average price of $7.88.

Aveanna Healthcare (NASDAQ:AVAH) last posted its quarterly earnings results on Thursday, May 14th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.13 by $0.05. Aveanna Healthcare had a net margin of 10.37% and a return on equity of 124.68%. The company had revenue of $647.92 million during the quarter, compared to analysts’ expectations of $613.22 million. The business’s revenue for the quarter was up 15.9% compared to the same quarter last year. Sell-side analysts anticipate that Aveanna Healthcare will post 0.56 EPS for the current fiscal year.

Insider Transactions at Aveanna Healthcare

In other news, insider Patrick A. Cunningham sold 18,436 shares of Aveanna Healthcare stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $7.21, for a total transaction of $132,923.56. Following the sale, the insider owned 337,755 shares in the company, valued at $2,435,213.55. This trade represents a 5.18% 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, CEO Jeff Shaner sold 173,225 shares of Aveanna Healthcare stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $7.21, for a total transaction of $1,248,952.25. Following the sale, the chief executive officer owned 2,650,892 shares in the company, valued at $19,112,931.32. This represents a 6.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 277,123 shares of company stock valued at $1,998,057 in the last three months. 5.30% of the stock is owned by company insiders.

Institutional Trading of Aveanna Healthcare

A number of hedge funds have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd grew its position in shares of Aveanna Healthcare by 252.4% during 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 acquired a new stake in shares of Aveanna Healthcare during the second quarter worth approximately $43,000. Summit Securities Group LLC acquired a new position in Aveanna Healthcare in the first quarter worth $53,000. Oxford Asset Management LLP acquired a new position in Aveanna Healthcare in the second quarter worth $64,000. Finally, Bayesian Capital Management LP acquired a new position in Aveanna Healthcare in the second quarter worth $85,000. Hedge funds and other institutional investors own 87.96% of the company’s stock.

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.