Aveanna Healthcare (NASDAQ:AVAH) Upgraded to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Aveanna Healthcare (NASDAQ:AVAH) from a hold rating to a strong-buy rating in a report released on Tuesday,Zacks.com reports.

Other analysts also recently issued reports about the company. William Blair initiated coverage on Aveanna Healthcare in a research report on Monday, December 8th. They set an “outperform” rating for the company. Jefferies Financial Group increased their price target on Aveanna Healthcare from $11.00 to $12.50 and gave the company a “buy” rating in a research note on Tuesday, October 28th. Truist Financial raised their price objective on Aveanna Healthcare from $9.50 to $10.00 and gave the stock a “hold” rating in a research report on Friday, November 7th. Barclays raised their price target on shares of Aveanna Healthcare from $9.00 to $11.00 and gave the stock an “overweight” rating in a report on Friday, January 16th. Finally, BMO Capital Markets assumed coverage on Aveanna Healthcare in a research note on Thursday, November 13th. They issued an “outperform” rating and a $11.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Aveanna Healthcare presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.06.

Aveanna Healthcare Stock Up 0.1%

Shares of NASDAQ:AVAH traded up $0.01 during trading on Tuesday, hitting $9.00. 157,804 shares of the company were exchanged, compared to its average volume of 1,365,800. Aveanna Healthcare has a fifty-two week low of $3.67 and a fifty-two week high of $10.32. The stock has a market cap of $1.88 billion, a price-to-earnings ratio of 25.08 and a beta of 2.06. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 140.39. The firm has a fifty day moving average price of $8.84 and a two-hundred day moving average price of $7.88.

Aveanna Healthcare (NASDAQ:AVAH) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.08. Aveanna Healthcare had a negative return on equity of 143.55% and a net margin of 3.29%.The company had revenue of $621.94 million during the quarter, compared to analysts’ expectations of $578.57 million. As a group, research analysts anticipate that Aveanna Healthcare will post -0.06 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Aveanna Healthcare news, insider Edwin C. Reisz sold 17,613 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $7.85, for a total value of $138,262.05. Following the completion of the sale, the insider owned 1,321,114 shares in the company, valued at approximately $10,370,744.90. The trade was a 1.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Patrick A. Cunningham sold 12,445 shares of the firm’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $7.85, for a total transaction of $97,693.25. Following the completion of the sale, the insider owned 293,354 shares of the company’s stock, valued at $2,302,828.90. This trade represents a 4.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 4,511,547 shares of company stock worth $40,376,776 in the last 90 days. 7.80% of the stock is currently owned by company insiders.

Institutional Trading of Aveanna Healthcare

Institutional investors have recently made changes to their positions in the stock. Quantbot Technologies LP purchased a new position in shares of Aveanna Healthcare in the second quarter valued at $43,000. Diversified Trust Co purchased a new position in shares of Aveanna Healthcare in the 2nd quarter worth $57,000. MQS Management LLC bought a new stake in shares of Aveanna Healthcare in the 2nd quarter worth about $59,000. Belvedere Trading LLC purchased a new stake in shares of Aveanna Healthcare during the 2nd quarter valued at about $62,000. Finally, Oxford Asset Management LLP bought a new position in shares of Aveanna Healthcare in the 2nd quarter valued at about $64,000. 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.