Aveanna Healthcare (NASDAQ:AVAH) Given New $11.00 Price Target at Truist Financial

Key Points

• Truist Financial raised its price target on Aveanna Healthcare from $9.00 to $11.00 while keeping a hold rating, implying about 15.4% upside from the stock’s current price.
• Aveanna’s recent quarterly results were solid, with EPS of $0.18 beating estimates of $0.13 and revenue of $647.9 million topping expectations; revenue also rose 15.9% year over year.
• Despite positive analyst sentiment overall, the stock has seen heavy insider selling, including a 7 million-share sale by major shareholder Robert M. Williams Jr., while institutional ownership remains high at 87.96%.

Aveanna Healthcare (NASDAQ:AVAH - Get Free Report) had its target price lifted by Truist Financial from $9.00 to $11.00 in a report released on Tuesday,Benzinga reports. The firm presently has a "hold" rating on the stock. Truist Financial's price objective points to a potential upside of 15.42% from the stock's current price.

A number of other research analysts have also weighed in on the stock. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Aveanna Healthcare in a research note on Thursday, July 2nd. Barclays increased their price objective on shares of Aveanna Healthcare from $9.00 to $9.50 and gave the stock an "overweight" rating in a research report on Thursday, July 9th. Royal Bank Of Canada raised shares of Aveanna Healthcare from a "sector perform" rating to an "outperform" rating and set a $10.00 price objective on the stock in a research report on Wednesday, June 3rd. Stephens upgraded Aveanna Healthcare from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $10.00 to $11.00 in a report on Friday, May 15th. Finally, BMO Capital Markets dropped their price target on Aveanna Healthcare from $11.00 to $10.00 and set an "outperform" rating on the stock in a research note on Friday, March 20th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $10.78.

Aveanna Healthcare Stock Down 1.4%

Shares of Aveanna Healthcare stock opened at $9.53 on Tuesday. Aveanna Healthcare has a 1 year low of $3.73 and a 1 year high of $10.32. The business has a 50-day moving average of $7.72 and a two-hundred day moving average of $7.59. The company has a market capitalization of $2.08 billion, a P/E ratio of 8.08, a price-to-earnings-growth ratio of 0.96 and a beta of 1.89. The company has a debt-to-equity ratio of 5.35, a current ratio of 1.47 and a quick ratio of 1.47.

Aveanna Healthcare (NASDAQ:AVAH - Get Free Report) last released its quarterly earnings data on Thursday, May 14th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.05. Aveanna Healthcare had a return on equity of 124.68% and a net margin of 10.37%.The business had revenue of $647.91 million for the quarter, compared to analysts' expectations of $613.22 million. The business's revenue for the quarter was up 15.9% compared to the same quarter last year. As a group, equities analysts predict that Aveanna Healthcare will post 0.68 EPS for the current year.

Insider Buying and Selling at Aveanna Healthcare

In related news, major shareholder Robert M. Williams, Jr. sold 7,000,000 shares of the firm's stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $6.24, for a total value of $43,680,000.00. Following the completion of the transaction, the insider owned 252,899 shares of the company's stock, valued at approximately $1,578,089.76. This trade represents a 96.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Patrick A. Cunningham sold 125,000 shares of the business's stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $7.59, for a total transaction of $948,750.00. Following the sale, the insider directly owned 212,755 shares in the company, valued at $1,614,810.45. This trade represents a 37.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 31,305,664 shares of company stock worth $215,555,910. Company insiders own 5.30% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd raised its stake in shares of Aveanna Healthcare by 252.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,351 shares of the company's stock worth $27,000 after purchasing an additional 2,400 shares in the last quarter. Quantbot Technologies LP acquired a new position in Aveanna Healthcare during the second quarter worth $43,000. Summit Securities Group LLC acquired a new position in Aveanna Healthcare during the first quarter worth $53,000. Oxford Asset Management LLP bought a new stake in Aveanna Healthcare during the second quarter worth $64,000. Finally, Bayesian Capital Management LP bought a new stake in Aveanna Healthcare during the second quarter worth $85,000. 87.96% of the stock is currently owned by institutional investors.

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.

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