Aveanna Healthcare (NASDAQ:AVAH) Price Target Lowered to $9.00 at Barclays

Key Points

• Barclays cut its price target on Aveanna Healthcare from $9.50 to $9.00, while keeping an overweight rating. The new target still implies about 12.6% upside from the prior close.
• Recent analyst opinions have been mixed, with several firms adjusting ratings and targets; overall, Aveanna now has a Moderate Buy consensus and an average target price of $10.39.
• The company posted better-than-expected earnings for the latest quarter, reporting EPS of $0.18 versus $0.13 expected and revenue of $647.92 million, up 15.9% year over year.

Aveanna Healthcare (NASDAQ:AVAH - Get Free Report) had its target price lowered by investment analysts at Barclays from $9.50 to $9.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Barclays's price target indicates a potential upside of 12.57% from the stock's previous close.

Several other research firms also recently weighed in on AVAH. Zacks Research downgraded Aveanna Healthcare from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 3rd. 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. Royal Bank Of Canada lifted their price target on Aveanna Healthcare from $9.00 to $10.00 and gave the stock a "sector perform" rating in a research report on Friday. Raymond James Financial upgraded Aveanna Healthcare from an "outperform" rating to a "strong-buy" rating and set a $13.00 price objective for the company in a research note on Friday, March 20th. Finally, Weiss Ratings lowered shares of Aveanna Healthcare from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Monday, April 6th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Aveanna Healthcare currently has an average rating of "Moderate Buy" and a consensus target price of $10.39.

Aveanna Healthcare Stock Up 3.6%

Aveanna Healthcare stock traded up $0.28 during mid-day trading on Monday, hitting $8.00. The company had a trading volume of 360,772 shares, compared to its average volume of 1,288,841. The stock has a market cap of $1.74 billion, a price-to-earnings ratio of 6.75 and a beta of 1.93. Aveanna Healthcare has a 1 year low of $3.73 and a 1 year high of $10.32. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 5.35. The business has a fifty day moving average of $6.71 and a 200 day moving average of $7.91.

Aveanna Healthcare (NASDAQ:AVAH - Get Free Report) last issued its earnings results on Thursday, May 14th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.05. Aveanna Healthcare had a net margin of 10.37% and a return on equity of 124.68%. The business had revenue of $647.92 million during the quarter, compared to analysts' expectations of $613.22 million. The company's revenue was up 15.9% on a year-over-year basis. On average, sell-side analysts expect that Aveanna Healthcare will post 0.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Aveanna Healthcare news, CFO Matthew Buckhalter sold 13,512 shares of the stock in a transaction that occurred 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 completion of the sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeff Shaner sold 173,225 shares of the business's stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $7.21, for a total value of $1,248,952.25. Following the completion of the transaction, the chief executive officer directly owned 2,650,892 shares in the company, valued at approximately $19,112,931.32. The trade was a 6.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 738,957 shares of company stock worth $5,458,175. Insiders own 5.30% of the company's stock.

Institutional Trading of Aveanna Healthcare

Several hedge funds and other institutional investors have recently made changes to their positions in AVAH. Caitong International Asset Management Co. Ltd raised its holdings in Aveanna Healthcare by 252.4% during the fourth 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 purchased a new stake in Aveanna Healthcare in the 2nd quarter valued at approximately $43,000. Summit Securities Group LLC acquired a new position in Aveanna Healthcare during the 1st quarter worth approximately $53,000. Oxford Asset Management LLP purchased a new position in shares of Aveanna Healthcare during the 2nd quarter worth approximately $64,000. Finally, Bayesian Capital Management LP purchased a new position in shares of Aveanna Healthcare during the 2nd quarter worth approximately $85,000. Hedge funds and other institutional investors own 87.96% of the company's stock.

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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