Truist Financial Forecasts Strong Price Appreciation for Aveanna Healthcare (NASDAQ:AVAH) Stock

Aveanna Healthcare (NASDAQ:AVAH) had its target price raised by stock analysts at Truist Financial from $9.50 to $10.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Truist Financial’s price objective points to a potential upside of 11.57% from the company’s current price.

A number of other research analysts have also recently commented on AVAH. UBS Group raised their price target on shares of Aveanna Healthcare from $8.00 to $9.00 and gave the stock a “neutral” rating in a research note on Monday, October 13th. Barclays upgraded shares of Aveanna Healthcare from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $5.50 to $9.50 in a research report on Tuesday, August 19th. Jefferies Financial Group raised their price objective on shares of Aveanna Healthcare from $11.00 to $12.50 and gave the stock a “buy” rating in a report on Tuesday, October 28th. Zacks Research cut shares of Aveanna Healthcare from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. Finally, Royal Bank Of Canada boosted their target price on Aveanna Healthcare from $8.00 to $10.00 and gave the stock a “sector perform” rating in a report on Friday, October 24th. Three equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $10.07.

Aveanna Healthcare Price Performance

NASDAQ:AVAH traded up $0.33 during mid-day trading on Friday, reaching $8.96. The stock had a trading volume of 832,974 shares, compared to its average volume of 791,200. Aveanna Healthcare has a 1-year low of $3.67 and a 1-year high of $10.32. The company has a market capitalization of $1.87 billion, a price-to-earnings ratio of 112.30 and a beta of 2.04. The stock’s 50 day simple moving average is $8.84 and its two-hundred day simple moving average is $6.45.

Aveanna Healthcare (NASDAQ:AVAH) last announced its earnings results on Monday, May 22nd. The company reported $0.04 EPS for the quarter. Aveanna Healthcare had a net margin of 0.85% and a negative return on equity of 54.56%. The company had revenue of $450.53 million during the quarter. Sell-side analysts anticipate that Aveanna Healthcare will post -0.06 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Paul R. Vigano sold 1,500,000 shares of the company’s stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $9.00, for a total transaction of $13,500,000.00. Following the completion of the transaction, the insider owned 362,746 shares of the company’s stock, valued at $3,264,714. This represents a 80.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Robert M. Williams, Jr. sold 1,500,000 shares of the firm’s stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $9.00, for a total value of $13,500,000.00. Following the completion of the transaction, the insider owned 362,746 shares in the company, valued at approximately $3,264,714. This trade represents a 80.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 32,597,968 shares of company stock worth $293,381,712. Corporate insiders own 7.80% of the company’s stock.

Institutional Investors Weigh In On Aveanna Healthcare

Hedge funds have recently made changes to their positions in the business. Banque Transatlantique SA acquired a new stake in Aveanna Healthcare in the first quarter worth approximately $25,000. Quantbot Technologies LP purchased a new position in Aveanna Healthcare during the 2nd quarter valued at about $43,000. Diversified Trust Co acquired a new position in Aveanna Healthcare in the 2nd quarter valued at approximately $57,000. Jump Financial LLC purchased a new stake in shares of Aveanna Healthcare during the first quarter worth $59,000. Finally, MQS Management LLC bought a new stake in shares of Aveanna Healthcare in the 2nd quarter valued at approximately $59,000. Institutional investors own 87.96% of the company’s stock.

Aveanna Healthcare Company Profile

Aveanna Healthcare Holdings Inc, a diversified home care platform company, provides pediatric and adult healthcare services in the United States. Its patient-centered care delivery platform allows patients to remain in their homes and minimizes the overutilization of high-cost care settings, such as hospitals or skilled nursing facilities.