Aveanna Healthcare (NASDAQ:AVAH) Price Target Cut to $8.00 by Analysts at Truist Financial

Key Points

• Truist cut its price target to $8 from $9 and maintained a "hold" rating on Aveanna, a move the firm says implies roughly a 25% upside from the prior close.
• Analyst opinions are mixed: MarketBeat shows a consensus of Moderate Buy with an average target of $10.25, ranging from one Strong Buy to multiple Hold ratings.
• Shares trade around $6.39 (market cap ~$1.39B, P/E ~6.3), and insiders have been net sellers—738,957 shares (~$5.46M) sold in the last 90 days—while institutional investors own about 88% of the stock.

Aveanna Healthcare (NASDAQ:AVAH - Get Free Report) had its target price dropped by analysts at Truist Financial from $9.00 to $8.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a "hold" rating on the stock. Truist Financial's price target indicates a potential upside of 25.29% from the company's previous close.

Several other brokerages have also recently issued reports on AVAH. Barclays dropped their price objective on shares of Aveanna Healthcare from $11.00 to $9.50 and set an "overweight" rating on the stock in a research note on Wednesday, March 25th. Raymond James Financial upgraded shares of Aveanna Healthcare from an "outperform" rating to a "strong-buy" rating and set a $13.00 target price on the stock in a research report on Friday, March 20th. UBS Group boosted their price objective on shares of Aveanna Healthcare from $9.50 to $10.00 and gave the stock a "neutral" rating in a research report on Thursday, January 15th. BMO Capital Markets reduced their target price on shares of Aveanna Healthcare from $11.00 to $10.00 and set an "outperform" rating on the stock in a report on Friday, March 20th. Finally, Weiss Ratings lowered shares of Aveanna Healthcare from a "buy (b-)" rating to a "hold (c+)" rating in a report on Monday, April 6th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $10.25.

Aveanna Healthcare Stock Performance

Shares of Aveanna Healthcare stock traded up $0.17 during trading on Monday, reaching $6.39. The company's stock had a trading volume of 375,070 shares, compared to its average volume of 1,215,460. The company has a 50-day moving average price of $7.13 and a two-hundred day moving average price of $8.30. The firm has a market cap of $1.39 billion, a PE ratio of 6.26 and a beta of 2.08. Aveanna Healthcare has a fifty-two week low of $3.73 and a fifty-two week high of $10.32. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 6.62.

Insider Transactions at Aveanna Healthcare

In other news, CFO Matthew Buckhalter sold 13,512 shares of the firm's stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $7.21, for a total transaction of $97,421.52. Following the transaction, the chief financial officer directly owned 529,243 shares of the company's stock, valued at approximately $3,815,842.03. This trade represents a 2.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Patrick A. Cunningham sold 18,436 shares of Aveanna Healthcare stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $7.21, for a total value of $132,923.56. Following the transaction, the insider directly owned 337,755 shares in the company, valued at approximately $2,435,213.55. The trade was a 5.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 738,957 shares of company stock valued at $5,458,175. Company insiders own 7.00% of the company's stock.

Hedge Funds Weigh In On Aveanna Healthcare

Hedge funds and other institutional investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd boosted its position in shares of Aveanna Healthcare by 252.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,351 shares of the company's stock valued at $27,000 after purchasing an additional 2,400 shares during the period. Quantbot Technologies LP acquired a new stake in Aveanna Healthcare during the 2nd quarter worth about $43,000. Lion Street Advisors LLC acquired a new stake in Aveanna Healthcare during the 3rd quarter worth about $89,000. EverSource Wealth Advisors LLC boosted its position in Aveanna Healthcare by 88,100.0% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 11,466 shares of the company's stock worth $102,000 after acquiring an additional 11,453 shares during the period. Finally, State of Alaska Department of Revenue acquired a new stake in Aveanna Healthcare during the 3rd quarter worth about $106,000. Institutional investors and hedge funds own 87.96% of the company's stock.

About Aveanna Healthcare

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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