Aveanna Healthcare (NASDAQ:AVAH) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Aveanna Healthcare from “buy” to “strong buy.” Across analysts, the stock has a “Moderate Buy” consensus rating and an average price target of $14.25.
• Aveanna beat quarterly estimates, reporting earnings of $0.23 per share versus $0.21 expected and revenue of $695.54 million versus $679.48 million expected.
• Insiders sold about 48.6 million shares worth roughly $558.5 million over the past 90 days, while institutional investors own 87.96% of the stock.

Aveanna Healthcare (NASDAQ:AVAH - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research note issued on Saturday, Wall Street Zen reports.

A number of other analysts have also weighed in on AVAH. Barclays upped their target price on Aveanna Healthcare from $9.50 to $15.00 and gave the stock an "overweight" rating in a report on Friday, August 28th. Royal Bank Of Canada reissued an "outperform" rating on shares of Aveanna Healthcare in a research report on Friday. Weiss Ratings raised Aveanna Healthcare from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, October 14th. JPMorgan Chase & Co. upped their price objective on Aveanna Healthcare from $8.00 to $15.00 and gave the stock a "neutral" rating in a research note on Monday, September 14th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating on shares of Aveanna Healthcare in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, Aveanna Healthcare has an average rating of "Moderate Buy" and an average target price of $14.25.

Aveanna Healthcare Price Performance

Shares of AVAH opened at $11.50 on Friday. The company has a 50 day moving average price of $13.02 and a 200-day moving average price of $9.46. Aveanna Healthcare has a fifty-two week low of $5.93 and a fifty-two week high of $14.71. The stock has a market capitalization of $2.51 billion, a PE ratio of 8.39, a PEG ratio of 0.75 and a beta of 2.03. The company has a debt-to-equity ratio of 4.47, a quick ratio of 1.16 and a current ratio of 1.16.

Aveanna Healthcare (NASDAQ:AVAH - Get Free Report) last released its quarterly earnings data on Thursday, November 12th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.21 by $0.02. The firm had revenue of $695.54 million for the quarter, compared to the consensus estimate of $679.48 million. Aveanna Healthcare had a net margin of 11.44% and a return on equity of 70.01%. Equities analysts predict that Aveanna Healthcare will post 0.77 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Paul Vigano sold 14,500,002 shares of the stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $11.50, for a total transaction of $166,750,023.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Rodney Windley sold 180,000 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 $2,070,000.00. Following the transaction, the director directly owned 2,078,017 shares in the company, valued at approximately $23,897,195.50. The trade was a 7.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 48,566,081 shares of company stock worth $558,509,932 over the last 90 days. 5.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Aveanna Healthcare

A number of large investors have recently modified their holdings of AVAH. Littlejohn & Co. LLC acquired a new position in shares of Aveanna Healthcare in the 2nd quarter valued at $1,846,878. The Manufacturers Life Insurance Company purchased a new position in Aveanna Healthcare in the 2nd quarter worth $367,000. Man Group plc acquired a new stake in Aveanna Healthcare during the 2nd quarter worth about $1,043,000. Parkman Healthcare Partners LLC acquired a new stake in Aveanna Healthcare during the 2nd quarter worth about $6,123,000. Finally, Canada Pension Plan Investment Board purchased a new stake in Aveanna Healthcare during the 2nd quarter valued at about $752,000. Hedge funds and other institutional investors own 87.96% of the company's stock.

Trending Headlines about Aveanna Healthcare

These are some of the AVAH headlines that stood out recently:

• Positive Sentiment: Third-quarter adjusted earnings were $0.23 per share, above the $0.21 consensus and up from $0.15 a year earlier. Revenue of $695.54 million also topped estimates of $679.48 million. Aveanna Healthcare Q3 Earnings and Revenues Beat Estimates
• Neutral Sentiment: Aveanna identified hospice as a priority for mergers and acquisitions, which could offer a growth opportunity, though the article does not detail a specific deal or financial impact. Hospice an M&A Priority for Aveanna
• Negative Sentiment: Aveanna reported goodwill, intangible and other long-lived asset impairment for the quarter. Separately, an analysis notes that leverage and exposure to Medicaid remain investor concerns despite the company’s growth and valuation discount. Aveanna Reports Asset Impairment

Aveanna Healthcare Company Profile

Aveanna Healthcare Holdings Inc. is a U.S. provider of home-based healthcare services for children and adults with complex medical needs. Its services include private-duty nursing and personal care, home health nursing and therapy, and hospice care, helping patients receive support in their homes and communities. The company also provides medical supplies and related services, including products used for enteral nutrition. Aveanna serves patients and families across multiple states through a network of clinicians, caregivers, and local operations.

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