Aveanna Healthcare (NASDAQ:AVAH) Hits New 12-Month High After Analyst Upgrade

Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH)’s share price hit a new 52-week high during mid-day trading 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 traded. The stock had previously closed at $13.16.

Other equities analysts have also recently issued reports about the company. Barclays raised their price objective on Aveanna Healthcare from $9.00 to $9.50 and gave the company an “overweight” rating in a research note on Thursday, July 9th. 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 note on Monday. UBS Group increased 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. Raymond James Financial boosted their price target on shares of Aveanna Healthcare from $13.00 to $15.00 and gave the stock a “strong-buy” rating in a report on Friday, August 14th. Finally, BMO Capital Markets increased their price objective on shares of Aveanna Healthcare from $10.00 to $14.00 and gave the company an “outperform” rating in a research note on Friday, August 14th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $12.89.

Insiders Place Their Bets

In other Aveanna Healthcare news, major shareholder J.H. Whitney Equity Partners V sold 12,496,077 shares of the company’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 $143,704,885.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Paul R. Vigano sold 14,500,002 shares of the firm’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $11.50, for a total value of $166,750,023.00. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 79,746,745 shares of company stock valued at $773,117,091. Insiders own 5.30% of the company’s stock.

Aveanna Healthcare News Roundup

Here are the key news stories impacting Aveanna Healthcare this week:

• Positive Sentiment: Royal Bank of Canada raised its price target to $16 from $10 and upgraded AVAH to “outperform.” The upgrade reinforces the bullish outlook following the stock’s recent rally. Benzinga analyst coverage
• Positive Sentiment: Truist Financial increased its price target to $15 from $11, although it maintained a “hold” rating. Other analysts have also raised targets after Aveanna exceeded quarterly earnings and revenue expectations. Benzinga analyst coverage
• Positive Sentiment: Aveanna reported quarterly EPS of $0.22 versus the $0.17 consensus estimate and revenue of $670.48 million versus expectations of $638.61 million. The earnings beat supports the improved analyst outlook and investor interest in the shares.
• Neutral Sentiment: Management will participate in the Jefferies Healthcare Services and Technology Conference on September 15. The presentation and one-on-one investor meetings could provide additional business updates, but the event is not an immediate financial catalyst. Aveanna conference announcement
• Negative Sentiment: Major shareholders, including Bain Capital- and J.H. Whitney-affiliated holders, disclosed substantial sales in a roughly $176 million offering. Additional sales by CEO Jeff Shaner, director Rodney Windley, and insider Edwin Reisz at $11.50 per share could weigh on sentiment and increase concerns about selling pressure, even though these holders retained sizable positions. Home Health Care News offering report

Institutional Trading of Aveanna Healthcare

Several hedge funds have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd boosted its stake in 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 valued at $27,000 after acquiring an additional 2,400 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of Aveanna Healthcare during the 2nd quarter worth approximately $43,000. Summit Securities Group LLC purchased a new stake in shares of Aveanna Healthcare during the 1st quarter worth approximately $53,000. Oxford Asset Management LLP bought a new stake in shares of Aveanna Healthcare in the 2nd quarter worth approximately $64,000. Finally, C M Bidwell & Associates Ltd. bought a new stake in shares of Aveanna Healthcare in the 2nd quarter worth approximately $69,000. Institutional investors own 87.96% of the company’s stock.

Aveanna Healthcare Trading Down 0.8%

The firm has a 50 day moving average of $9.83 and a 200 day moving average of $7.99. The firm has a market cap of $2.97 billion, a PE ratio of 11.05, a P/E/G ratio of 0.96 and a beta of 1.90. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 4.47.

Aveanna Healthcare (NASDAQ:AVAH) last released its earnings results on Thursday, August 13th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.05. The business had revenue of $670.48 million during the quarter, compared to the consensus estimate of $638.61 million. Aveanna Healthcare had a return on equity of 80.70% and a net margin of 10.56%. Equities analysts anticipate that Aveanna Healthcare Holdings Inc. will post 0.68 earnings per share for the current year.

Aveanna Healthcare Company Profile

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.