Aveanna Healthcare (NASDAQ:AVAH) Upgraded by Barclays to Overweight Rating

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Barclays upgraded shares of Aveanna Healthcare (NASDAQ:AVAH - Free Report) from an equal weight rating to an overweight rating in a report released on Tuesday morning, Marketbeat Ratings reports. Barclays currently has $9.50 target price on the stock, up from their previous target price of $5.50.

A number of other research firms also recently issued reports on AVAH. Truist Financial cut their target price on shares of Aveanna Healthcare from $6.00 to $5.00 and set a "hold" rating for the company in a research report on Wednesday, July 16th. Raymond James Financial upgraded 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 research report on Monday, August 11th. Jefferies Financial Group upgraded shares of Aveanna Healthcare from a "hold" rating to a "buy" rating and cut their target price for the stock from $6.25 to $6.00 in a research report on Monday, July 21st. Wall Street Zen upgraded shares of Aveanna Healthcare from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 9th. Finally, UBS Group upgraded 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 research report on Tuesday, August 19th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $7.50.

Aveanna Healthcare Price Performance

Aveanna Healthcare stock traded up $0.43 during midday trading on Tuesday, reaching $7.47. The stock had a trading volume of 1,547,703 shares, compared to its average volume of 1,739,328. The firm's fifty day simple moving average is $4.97 and its two-hundred day simple moving average is $4.96. Aveanna Healthcare has a twelve month low of $3.67 and a twelve month high of $7.69. The firm has a market cap of $1.56 billion, a price-to-earnings ratio of 93.38 and a beta of 1.95.

Insider Buying and Selling at Aveanna Healthcare

In other news, major shareholder J.H. Whitney Equity Partners V sold 750,000 shares of the firm's stock in a transaction on 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 transaction, the insider owned 28,890,756 shares in the company, valued at approximately $150,231,931.20. This trade represents a 2.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Deborah Stewart sold 15,457 shares of the firm's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $5.56, for a total transaction of $85,940.92. Following the transaction, the chief accounting officer owned 285,396 shares in the company, valued at $1,586,801.76. This represents a 5.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,295,145 shares of company stock worth $11,941,141 in the last ninety days. Company insiders own 7.80% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Millennium Management LLC grew its stake in Aveanna Healthcare by 105.0% in the 4th quarter. Millennium Management LLC now owns 400,374 shares of the company's stock valued at $1,830,000 after buying an additional 205,023 shares during the last quarter. Legal & General Group Plc grew its position in Aveanna Healthcare by 577.0% in the 4th quarter. Legal & General Group Plc now owns 36,409 shares of the company's stock worth $166,000 after purchasing an additional 31,031 shares during the last quarter. Deutsche Bank AG grew its position in Aveanna Healthcare by 32.1% in the 4th quarter. Deutsche Bank AG now owns 34,564 shares of the company's stock worth $158,000 after purchasing an additional 8,396 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Aveanna Healthcare in the 4th quarter worth $223,000. Finally, Teacher Retirement System of Texas grew its position in Aveanna Healthcare by 50.9% in the 1st quarter. Teacher Retirement System of Texas now owns 49,881 shares of the company's stock worth $270,000 after purchasing an additional 16,835 shares during the last quarter. 87.96% of the stock is currently owned by institutional investors and hedge funds.

About Aveanna Healthcare

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.