Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH) Given Consensus Recommendation of "Moderate Buy" by Analysts

Key Points

• Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH) has received a consensus recommendation of "Moderate Buy" from five research firms, with an average 12-month price target of $7.50.
• Insider transactions reveal major shareholders sold 750,000 shares each at an average price of $5.20 on June 10th, indicating a 2.53% decrease in their holdings.
• Institutional investors have significantly increased their stakes, with Summit Partners L P purchasing a new stake worth approximately $50 million during the second quarter.

Shares of Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH - Get Free Report) have received an average recommendation of "Moderate Buy" from the five analysts that are currently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $7.50.

Several equities analysts have recently commented on the company. Truist Financial reduced their price objective on Aveanna Healthcare from $6.00 to $5.00 and set a "hold" rating on the stock in a research report on Wednesday, July 16th. Wall Street Zen upgraded Aveanna Healthcare from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 9th. UBS Group upgraded Aveanna Healthcare from a "sell" rating to a "neutral" rating and increased their price objective for the company from $6.75 to $8.00 in a research report on Tuesday, August 19th. Jefferies Financial Group upgraded Aveanna Healthcare from a "hold" rating to a "buy" rating and reduced their price target for the stock from $6.25 to $6.00 in a research report on Monday, July 21st. Finally, Raymond James Financial upgraded Aveanna Healthcare from a "market perform" rating to an "outperform" rating and set a $9.00 price target on the stock in a research report on Monday, August 11th.

Insider Buying and Selling at Aveanna Healthcare

In other news, major shareholder J.H. Whitney Equity Partners V sold 750,000 shares of Aveanna Healthcare stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $5.20, for a total value of $3,900,000.00. Following the sale, the insider directly owned 28,890,756 shares in the company, valued at approximately $150,231,931.20. This trade represents a 2.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Deborah Stewart sold 15,457 shares of the firm's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $5.56, for a total value of $85,940.92. Following the completion of the transaction, the chief accounting officer owned 285,396 shares of the company's stock, valued at approximately $1,586,801.76. The trade was a 5.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,295,145 shares of company stock worth $11,941,141 over the last quarter. Company insiders own 7.00% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Oxford Asset Management LLP purchased a new position in Aveanna Healthcare during the second quarter valued at $64,000. Lazard Asset Management LLC purchased a new position in shares of Aveanna Healthcare in the second quarter worth $791,000. BNP Paribas Financial Markets raised its stake in shares of Aveanna Healthcare by 1,208.6% in the second quarter. BNP Paribas Financial Markets now owns 47,215 shares of the company's stock worth $247,000 after purchasing an additional 43,607 shares during the last quarter. Bank of America Corp DE raised its stake in shares of Aveanna Healthcare by 172.0% in the second quarter. Bank of America Corp DE now owns 143,405 shares of the company's stock worth $750,000 after purchasing an additional 90,673 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its stake in shares of Aveanna Healthcare by 168.0% in the second quarter. Ameriprise Financial Inc. now owns 145,982 shares of the company's stock worth $763,000 after purchasing an additional 91,508 shares during the last quarter. Hedge funds and other institutional investors own 87.96% of the company's stock.

Aveanna Healthcare Price Performance

Shares of NASDAQ:AVAH traded up $0.24 on Thursday, hitting $7.67. The company's stock had a trading volume of 1,411,405 shares, compared to its average volume of 1,859,380. The company has a 50-day simple moving average of $5.08 and a 200 day simple moving average of $5.00. Aveanna Healthcare has a 1 year low of $3.67 and a 1 year high of $7.83. The company has a market capitalization of $1.60 billion, a PE ratio of 95.88 and a beta of 1.95.

About Aveanna Healthcare

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.