Aveanna Healthcare (NASDAQ:AVAH) Hits New 52-Week High After Analyst Upgrade

Key Points

• Aveanna Healthcare's stock reached a new 52-week high of $7.61 after a significant upgrade by Barclays, which raised its price target from $5.50 to $9.50.
• Multiple analysts have recently adjusted their ratings, with UBS upgrading to neutral and setting a new target of $8.00, while Truist Financial lowered its target from $6.00 to $5.00.
• Insiders sold a total of 2,295,145 shares worth nearly $12 million in the last 90 days, indicating potential shifts in ownership structures at Aveanna Healthcare.

Shares of Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday after Barclays upgraded the stock from an equal weight rating to an overweight rating. Barclays now has a $9.50 price target on the stock, up from their previous price target of $5.50. Aveanna Healthcare traded as high as $7.61 and last traded at $7.27, with a volume of 3007322 shares trading hands. The stock had previously closed at $7.04.

AVAH has been the subject of a number of other reports. Truist Financial decreased their price target on shares of Aveanna Healthcare from $6.00 to $5.00 and set a "hold" rating for the company in a report on Wednesday, July 16th. Jefferies Financial Group upgraded shares of Aveanna Healthcare from a "hold" rating to a "buy" rating and decreased their price target for the company from $6.25 to $6.00 in a report on Monday, July 21st. Wall Street Zen upgraded shares of Aveanna Healthcare from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 9th. Raymond James Financial upgraded shares of Aveanna Healthcare from a "market perform" rating to an "outperform" rating and set a $9.00 price target for the company in a report on Monday, August 11th. Finally, UBS Group upgraded shares of Aveanna Healthcare from a "sell" rating to a "neutral" rating and upped their price target for the company from $6.75 to $8.00 in a report on Tuesday, August 19th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $7.50.

Insiders Place Their Bets

In related news, CAO Deborah Stewart sold 15,457 shares of the stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $5.56, for a total value of $85,940.92. Following the completion of the sale, the chief accounting officer owned 285,396 shares in the company, valued at approximately $1,586,801.76. This trade represents a 5.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder J.H. Whitney Equity Partners V sold 750,000 shares of the stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $5.20, for a total transaction of $3,900,000.00. Following the completion of the sale, the insider owned 28,890,756 shares of the company's stock, valued at approximately $150,231,931.20. The trade was a 2.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,295,145 shares of company stock valued at $11,941,141 in the last quarter. 7.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Banque Transatlantique SA bought a new position in Aveanna Healthcare during the first quarter worth about $25,000. BNP Paribas Financial Markets bought a new position in Aveanna Healthcare during the fourth quarter worth about $35,000. Tower Research Capital LLC TRC lifted its stake in Aveanna Healthcare by 662.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,889 shares of the company's stock worth $36,000 after purchasing an additional 6,854 shares during the period. Quantbot Technologies LP bought a new position in Aveanna Healthcare during the second quarter worth about $43,000. Finally, Diversified Trust Co bought a new position in Aveanna Healthcare during the second quarter worth about $57,000. Institutional investors own 87.96% of the company's stock.

Aveanna Healthcare Price Performance

The stock has a market cap of $1.56 billion, a P/E ratio of 93.38 and a beta of 1.95. The business's 50 day simple moving average is $4.97 and its 200 day simple moving average is $4.96.

Aveanna Healthcare Company Profile

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.