Aveanna Healthcare (NASDAQ:AVAH) Sets New 12-Month High - Here's Why

Key Points

• Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH) shares hit a new 52-week high of $9.03, closing at $8.98 with a trading volume of over 1.7 million shares.
• Analysts have varied opinions on the stock, with Jefferies and Raymond James upgrading their ratings and target prices, reflecting a consensus rating of "Moderate Buy" and an average target price of $7.92.
• Institutional investors have significantly increased their stakes in Aveanna, with 87.96% of the company's stock now owned by these investors, indicating strong confidence in the company's performance.

Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH - Get Free Report) shares reached a new 52-week high on Thursday . The stock traded as high as $9.03 and last traded at $8.98, with a volume of 1728423 shares. The stock had previously closed at $8.87.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Jefferies Financial Group raised shares of Aveanna Healthcare from a "hold" rating to a "buy" rating and cut their price objective for the stock from $6.25 to $6.00 in a research report on Monday, July 21st. Raymond James Financial raised shares of Aveanna Healthcare from a "market perform" rating to an "outperform" rating and set a $9.00 target price for the company in a report on Monday, August 11th. UBS Group raised shares of Aveanna Healthcare from a "sell" rating to a "neutral" rating and increased their target price for the stock from $6.75 to $8.00 in a report on Tuesday, August 19th. JPMorgan Chase & Co. raised shares of Aveanna Healthcare from an "underweight" rating to a "neutral" rating and increased their target price for the stock from $6.00 to $10.00 in a report on Thursday, September 18th. Finally, Barclays raised shares of Aveanna Healthcare from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $5.50 to $9.50 in a report on Tuesday, August 19th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $7.92.

Aveanna Healthcare Stock Up 1.2%

The company has a 50 day moving average price of $7.08 and a 200-day moving average price of $5.70. The company has a market cap of $1.88 billion, a price-to-earnings ratio of 112.25 and a beta of 2.05.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Squarepoint Ops LLC increased its stake in shares of Aveanna Healthcare by 207.0% in the second quarter. Squarepoint Ops LLC now owns 479,977 shares of the company's stock valued at $2,510,000 after buying an additional 323,656 shares during the period. Oxford Asset Management LLP acquired a new position in shares of Aveanna Healthcare in the second quarter valued at approximately $64,000. Lazard Asset Management LLC acquired a new position in shares of Aveanna Healthcare in the second quarter valued at approximately $791,000. BNP Paribas Financial Markets increased its stake in shares of Aveanna Healthcare by 1,208.6% in the second quarter. BNP Paribas Financial Markets now owns 47,215 shares of the company's stock valued at $247,000 after buying an additional 43,607 shares during the period. Finally, Bank of America Corp DE increased its position in Aveanna Healthcare by 172.0% during the 2nd quarter. Bank of America Corp DE now owns 143,405 shares of the company's stock valued at $750,000 after purchasing an additional 90,673 shares during the period. Institutional investors and hedge funds own 87.96% of the company's stock.

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.

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