Aveanna Healthcare (NASDAQ:AVAH) Cut to "Hold" at Zacks Research

Key Points

• Aveanna Healthcare has been downgraded from a "strong-buy" to a "hold" rating by Zacks Research amidst mixed analyst opinions on the stock.
• The stock currently has a market cap of $2.14 billion and an average price target of $8.08 based on analysts’ ratings.
• Significant investments from hedge funds have been noted, with 87.96% of the stock currently owned by institutional investors.

Aveanna Healthcare (NASDAQ:AVAH - Get Free Report) was downgraded by analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a note issued to investors on Monday,Zacks.com reports.

Other equities research analysts have also recently issued research reports about the company. Jefferies Financial Group upgraded Aveanna Healthcare from a "hold" rating to a "buy" rating and decreased their target price for the stock from $6.25 to $6.00 in a research note on Monday, July 21st. JPMorgan Chase & Co. raised Aveanna Healthcare from an "underweight" rating to a "neutral" rating and upped their price objective for the stock from $6.00 to $10.00 in a report on Thursday, September 18th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Aveanna Healthcare in a report on Wednesday, October 8th. Truist Financial dropped their price objective on Aveanna Healthcare from $6.00 to $5.00 and set a "hold" rating on the stock in a report on Wednesday, July 16th. Finally, Raymond James Financial raised Aveanna Healthcare from a "market perform" rating to an "outperform" rating and set a $9.00 price objective on the stock in a report on Monday, August 11th. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $8.08.

Aveanna Healthcare Stock Down 0.4%

AVAH stock opened at $10.23 on Monday. The business has a 50 day moving average price of $8.36 and a 200 day moving average price of $6.07. The stock has a market cap of $2.14 billion, a price-to-earnings ratio of 127.88 and a beta of 2.05. Aveanna Healthcare has a fifty-two week low of $3.67 and a fifty-two week high of $10.32.

Aveanna Healthcare (NASDAQ:AVAH - Get Free Report) last posted its earnings results on Monday, May 22nd. The company reported $0.04 earnings per share for the quarter. The firm had revenue of $450.53 million during the quarter. Aveanna Healthcare had a negative return on equity of 54.56% and a net margin of 0.85%. As a group, sell-side analysts anticipate that Aveanna Healthcare will post -0.06 EPS for the current year.

Hedge Funds Weigh In On Aveanna Healthcare

Large investors have recently modified their holdings of the company. Banque Transatlantique SA purchased a new position in shares of Aveanna Healthcare in the 1st quarter worth about $25,000. Quantbot Technologies LP purchased a new position in shares of Aveanna Healthcare in the 2nd quarter worth about $43,000. Diversified Trust Co purchased a new position in shares of Aveanna Healthcare in the 2nd quarter worth about $57,000. Jump Financial LLC purchased a new position in shares of Aveanna Healthcare in the 1st quarter worth about $59,000. Finally, MQS Management LLC purchased a new position in shares of Aveanna Healthcare in the 2nd quarter worth about $59,000. 87.96% of the stock is currently owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.