Aveanna Healthcare (NASDAQ:AVAH) Price Target Raised to $15.00 at JPMorgan Chase & Co.

Key Points

• JPMorgan raised Aveanna Healthcare’s price target from $8 to $15 while maintaining a “neutral” rating, implying roughly 6.5% upside from the reported share price.
• Analyst sentiment is broadly positive: Aveanna has a consensus “Moderate Buy” rating and an average price target of $14.06, with several firms also lifting targets to $15 or higher.
• Aveanna reported quarterly EPS of $0.22 versus the $0.17 consensus estimate and revenue of $670.48 million, but insiders have sold substantial shares recently, including a 2.25 million-share sale by major shareholder J.H. Whitney Equity Partners V.

Aveanna Healthcare (NASDAQ:AVAH - Get Free Report) had its target price raised by investment analysts at JPMorgan Chase & Co. from $8.00 to $15.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price target suggests a potential upside of 6.53% from the company's current price.

A number of other research firms have also commented on AVAH. Barclays raised their price target on Aveanna Healthcare from $9.50 to $15.00 and gave the stock an "overweight" rating in a report on Friday, August 28th. UBS Group boosted their price objective on Aveanna Healthcare from $8.00 to $13.00 and gave the company a "neutral" rating in a research note on Friday, August 14th. Truist Financial increased their price objective on Aveanna Healthcare from $11.00 to $15.00 and gave the stock a "hold" rating in a report on Monday, August 24th. Raymond James Financial raised their target price on Aveanna Healthcare from $13.00 to $15.00 and gave the stock a "strong-buy" rating in a research note on Friday, August 14th. Finally, Royal Bank Of Canada lifted their target price on Aveanna Healthcare from $10.00 to $16.00 and gave the company an "outperform" rating in a report on Monday, August 24th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $14.06.

Aveanna Healthcare Stock Performance

NASDAQ AVAH opened at $14.08 on Monday. The firm has a market cap of $3.07 billion, a P/E ratio of 11.45, a price-to-earnings-growth ratio of 0.89 and a beta of 1.97. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 4.47. The company's 50 day moving average is $11.19 and its 200-day moving average is $8.54. Aveanna Healthcare has a 12-month low of $5.93 and a 12-month high of $14.54.

Aveanna Healthcare (NASDAQ:AVAH - Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.17 by $0.05. Aveanna Healthcare had a net margin of 10.56% and a return on equity of 80.70%. The company had revenue of $670.48 million during the quarter, compared to the consensus estimate of $638.61 million. Sell-side analysts predict that Aveanna Healthcare will post 0.75 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Edwin C. Reisz sold 50,000 shares of the company'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 $575,000.00. Following the transaction, the insider owned 1,397,897 shares of the company's stock, valued at approximately $16,075,815.50. This represents a 3.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder J.H. Whitney Equity Partners V sold 2,250,000 shares of the company's stock in a transaction on Friday, August 21st. The stock was sold at an average price of $11.50, for a total transaction of $25,875,000.00. Following the completion of the transaction, the insider directly owned 12,315,892 shares in the company, valued at approximately $141,632,758. The trade was a 15.45% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 59,904,505 shares of company stock worth $649,301,514. Company insiders own 5.30% of the company's stock.

Hedge Funds Weigh In On Aveanna Healthcare

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. WINTON GROUP Ltd bought a new position in Aveanna Healthcare in the 2nd quarter worth about $197,000. Arizona State Retirement System raised its holdings in shares of Aveanna Healthcare by 46.4% in the 2nd quarter. Arizona State Retirement System now owns 21,006 shares of the company's stock valued at $180,000 after acquiring an additional 6,661 shares in the last quarter. Allianz Asset Management GmbH bought a new stake in shares of Aveanna Healthcare during the 2nd quarter valued at about $4,595,000. Corient Private Wealth LP purchased a new position in shares of Aveanna Healthcare during the second quarter worth about $176,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Aveanna Healthcare during the second quarter worth about $270,000. 87.96% of the stock is currently owned by hedge funds and other institutional investors.

Aveanna Healthcare Company Profile

Aveanna Healthcare Corporation is a provider of home-based healthcare services for children, adults and families in the United States. The company's services are designed to help patients receive medical and supportive care in their homes and communities, including individuals with complex, chronic or medically fragile conditions.

Aveanna's principal services include private-duty nursing, home health, hospice and personal care. It also provides pediatric therapy and related clinical services, including physical, occupational and speech therapy.

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