Avista Corporation (AVA) VP James M. Kensok Sells 4,700 Shares
Avista Corporation (NYSE:AVA) VP James M. Kensok sold 4,700 shares of the firm’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $52.01, for a total value of $244,447.00. Following the transaction, the vice president now directly owns 12,787 shares in the company, valued at $665,051.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Avista Corporation (AVA) traded down $0.34 during trading on Friday, hitting $51.86. 306,900 shares of the stock were exchanged, compared to its average volume of 425,606. The company has a current ratio of 0.47, a quick ratio of 0.38 and a debt-to-equity ratio of 0.92. The stock has a market capitalization of $3.34 billion, a price-to-earnings ratio of 25.20 and a beta of 0.44. Avista Corporation has a one year low of $37.78 and a one year high of $52.83.
Avista Corporation (NYSE:AVA) last posted its earnings results on Wednesday, August 2nd. The utilities provider reported $0.34 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.03). The firm had revenue of $314.50 million for the quarter, compared to analysts’ expectations of $326.33 million. Avista Corporation had a return on equity of 7.94% and a net margin of 8.86%. The business’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.43 earnings per share. sell-side analysts anticipate that Avista Corporation will post 1.83 earnings per share for the current year.
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A number of institutional investors and hedge funds have recently modified their holdings of the business. BNP Paribas Arbitrage SA lifted its holdings in Avista Corporation by 61.9% in the third quarter. BNP Paribas Arbitrage SA now owns 34,782 shares of the utilities provider’s stock worth $1,801,000 after buying an additional 13,301 shares during the period. Symons Capital Management Inc. purchased a new stake in Avista Corporation in the third quarter worth about $221,000. Global X MANAGEMENT CO LLC lifted its holdings in Avista Corporation by 1.4% in the third quarter. Global X MANAGEMENT CO LLC now owns 206,012 shares of the utilities provider’s stock worth $10,665,000 after buying an additional 2,849 shares during the period. World Asset Management Inc purchased a new stake in Avista Corporation in the third quarter worth about $221,000. Finally, IndexIQ Advisors LLC purchased a new stake in Avista Corporation in the third quarter worth about $3,252,000. Institutional investors and hedge funds own 67.86% of the company’s stock.
A number of research analysts have recently issued reports on the company. BMO Capital Markets reaffirmed a “hold” rating and set a $53.00 price objective on shares of Avista Corporation in a research note on Friday, July 21st. BidaskClub upgraded shares of Avista Corporation from a “hold” rating to a “buy” rating in a report on Thursday, August 3rd. Zacks Investment Research lowered shares of Avista Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, August 16th. Williams Capital lowered shares of Avista Corporation from a “hold” rating to a “sell” rating and increased their target price for the stock from $38.00 to $42.00 in a report on Thursday, July 20th. Finally, KeyCorp reiterated a “hold” rating on shares of Avista Corporation in a report on Friday, October 20th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $47.75.
Avista Corporation Company Profile
Avista Corporation is an electric and natural gas utility company. The Company operates through two segments: Avista Utilities, and Alaska Electric Light and Power Company (AEL&P). The Company’s regional services include government and higher education, medical services, retail trade and finance. The Company’s businesses also include sheet metal fabrication, venture fund investments, real estate investments, a company that explores markets that could be served with liquefied natural gas (LNG), as well as certain other investments of Avista Capital, which is a subsidiary of the Company.
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