Aveanna Healthcare (NASDAQ:AVAH) Reaches New 1-Year High - Time to Buy?

Key Points

• Aveanna Healthcare reached a new 52-week high of $12.76, last trading near $12.67, giving the company a market capitalization of approximately $2.76 billion.
• Analysts maintain a consensus “Moderate Buy” rating, with one Strong Buy, six Buys and five Holds; the average price target is $11.78, below the current share price.
• The company exceeded quarterly expectations, reporting $0.22 in adjusted earnings per share versus $0.17 expected and revenue of $670.48 million versus $638.61 million. However, insiders sold more than 31.1 million shares worth about $214.6 million over the past three months.

Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $12.76 and last traded at $12.67, with a volume of 5047142 shares. The stock had previously closed at $12.69.

Wall Street Analyst Weigh In

A number of research firms have recently commented on AVAH. Stephens upgraded Aveanna Healthcare from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $10.00 to $11.00 in a research report on Friday, May 15th. UBS Group boosted their price objective on Aveanna Healthcare from $8.00 to $13.00 and gave the company a "neutral" rating in a report on Friday, August 14th. Barclays raised their target price 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. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Aveanna Healthcare in a research note on Thursday, July 2nd. Finally, Wall Street Zen downgraded shares of Aveanna Healthcare from a "strong-buy" rating to a "buy" rating in a research note on Saturday. 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's stock. Based on data from MarketBeat.com, Aveanna Healthcare currently has an average rating of "Moderate Buy" and an average target price of $11.78.

Aveanna Healthcare Stock Down 0.2%

The firm has a market capitalization of $2.76 billion, a P/E ratio of 10.30, a PEG ratio of 1.22 and a beta of 1.90. The company has a debt-to-equity ratio of 4.47, a quick ratio of 1.16 and a current ratio of 1.16. The business's fifty day moving average price is $9.21 and its two-hundred day moving average price is $7.82.

Aveanna Healthcare (NASDAQ:AVAH - Get Free Report) last posted its quarterly earnings data on Thursday, August 13th. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.17 by $0.05. The firm had revenue of $670.48 million during the quarter, compared to analyst estimates of $638.61 million. Aveanna Healthcare had a net margin of 10.56% and a return on equity of 80.70%. Equities analysts expect that Aveanna Healthcare Holdings Inc. will post 0.68 earnings per share for the current fiscal year.

Insider Transactions at Aveanna Healthcare

In other news, major shareholder J.H. Whitney Equity Partners V sold 5,842,240 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $6.24, for a total transaction of $36,455,577.60. Following the completion of the sale, the insider owned 13,450,547 shares in the company, valued at approximately $83,931,413.28. This represents a 30.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Paul R. Vigano sold 7,000,000 shares of the firm's stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $6.24, for a total value of $43,680,000.00. Following the completion of the sale, the insider directly owned 252,899 shares of the company's stock, valued at $1,578,089.76. The trade was a 96.51% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 31,180,664 shares of company stock valued at $214,607,160. Corporate insiders own 5.30% of the company's stock.

Institutional Investors Weigh In On Aveanna Healthcare

Several institutional investors have recently added to or reduced their stakes in AVAH. AQR Capital Management LLC boosted its stake in Aveanna Healthcare by 21.2% in the 1st quarter. AQR Capital Management LLC now owns 26,280 shares of the company's stock worth $142,000 after purchasing an additional 4,602 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Aveanna Healthcare by 8.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 339,853 shares of the company's stock valued at $1,842,000 after purchasing an additional 25,974 shares in the last quarter. Jane Street Group LLC increased its stake in Aveanna Healthcare by 522.0% during the 1st quarter. Jane Street Group LLC now owns 75,081 shares of the company's stock valued at $407,000 after purchasing an additional 63,010 shares in the last quarter. Creative Planning raised its holdings in shares of Aveanna Healthcare by 15.1% in the second quarter. Creative Planning now owns 47,025 shares of the company's stock worth $246,000 after buying an additional 6,171 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Aveanna Healthcare by 65.0% in the second quarter. JPMorgan Chase & Co. now owns 158,265 shares of the company's stock worth $828,000 after buying an additional 62,348 shares during the last quarter. 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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