Aveanna Healthcare (NASDAQ:AVAH) Stock Price Expected to Rise, Truist Financial Analyst Says

Key Points

• Truist Financial raised its price target on Aveanna Healthcare from $8 to $9, while keeping a hold rating; the new target implies about 19% upside from the current share price.
• The latest analyst consensus remains constructive overall, with an average rating of Moderate Buy and an average target price of $10.50, despite mixed recent moves from other firms.
• Aveanna’s most recent earnings beat expectations, reporting $0.18 EPS versus $0.13 expected and $647.9 million in revenue, while revenue rose 15.9% year over year.

Aveanna Healthcare (NASDAQ:AVAH - Get Free Report) had its target price raised by research analysts at Truist Financial from $8.00 to $9.00 in a report released on Wednesday,Benzinga reports. The firm presently has a "hold" rating on the stock. Truist Financial's target price points to a potential upside of 19.30% from the stock's current price.

Several other research analysts have also recently weighed in on AVAH. Barclays dropped their price target on shares of Aveanna Healthcare from $9.50 to $9.00 and set an "overweight" rating on the stock in a research note on Monday. Raymond James Financial upgraded 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. Zacks Research downgraded Aveanna Healthcare from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 3rd. Weiss Ratings downgraded Aveanna Healthcare from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Monday, April 6th. Finally, BMO Capital Markets decreased their target price on shares of Aveanna Healthcare from $11.00 to $10.00 and set an "outperform" rating on the stock in a research report on Friday, March 20th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat, Aveanna Healthcare currently has an average rating of "Moderate Buy" and an average target price of $10.50.

Aveanna Healthcare Price Performance

Shares of NASDAQ AVAH traded down $0.09 during mid-day trading on Wednesday, hitting $7.54. 622,168 shares of the stock traded hands, compared to its average volume of 1,306,657. The company has a market cap of $1.64 billion, a PE ratio of 6.41, a price-to-earnings-growth ratio of 0.92 and a beta of 1.93. The company has a debt-to-equity ratio of 5.35, a current ratio of 1.47 and a quick ratio of 1.47. Aveanna Healthcare has a twelve month low of $3.73 and a twelve month high of $10.32. The firm has a 50 day simple moving average of $6.73 and a two-hundred day simple moving average of $7.88.

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

Insider Activity at Aveanna Healthcare

In other Aveanna Healthcare news, CAO Deborah Stewart sold 11,181 shares of Aveanna Healthcare stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $7.21, for a total transaction of $80,615.01. Following the transaction, the chief accounting officer directly owned 301,807 shares of the company's stock, valued at $2,176,028.47. The trade was a 3.57% 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, CEO Jeff Shaner sold 173,225 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 transaction of $1,248,952.25. Following the transaction, the chief executive officer directly owned 2,650,892 shares in the company, valued at $19,112,931.32. This trade represents a 6.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 277,123 shares of company stock valued at $1,998,057 in the last quarter. 5.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Aveanna Healthcare

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd lifted its holdings in Aveanna Healthcare by 252.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,351 shares of the company's stock worth $27,000 after buying an additional 2,400 shares in the last quarter. Quantbot Technologies LP acquired a new stake in Aveanna Healthcare during the 2nd quarter worth approximately $43,000. Summit Securities Group LLC acquired a new stake in Aveanna Healthcare during the 1st quarter worth approximately $53,000. Oxford Asset Management LLP acquired a new position in Aveanna Healthcare during the 2nd quarter worth approximately $64,000. Finally, Bayesian Capital Management LP acquired a new position in Aveanna Healthcare during the 2nd quarter worth approximately $85,000. 87.96% of the stock is owned by hedge funds and other institutional investors.

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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