Avista (NYSE:AVA) Earns "Hold (C)" Rating from Weiss Ratings

Key Points

• Weiss Ratings has reissued Avista's stock rating as "hold (c)," indicating a cautious stance for investors following its latest performance.
• Avista's latest earnings report showed an EPS of $0.17, missing estimates by $0.11, alongside revenue of $400 million, which also fell short of projections.
• Insider trading activity includes a sale of 1,367 shares by VP David J. Meyer and a purchase of 3,671 shares by SVP Bryan Alden Cox, reflecting mixed sentiment among executives regarding the company's stock.

Avista (NYSE:AVA - Get Free Report)'s stock had its "hold (c)" rating reissued by Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Avista Price Performance

Shares of AVA stock traded up $0.16 during trading hours on Wednesday, hitting $37.54. The company's stock had a trading volume of 409,462 shares, compared to its average volume of 715,937. The business has a fifty day moving average of $36.93 and a 200-day moving average of $38.36. The stock has a market cap of $3.04 billion, a price-to-earnings ratio of 16.91, a P/E/G ratio of 2.46 and a beta of 0.39. Avista has a twelve month low of $34.80 and a twelve month high of $43.09. The company has a current ratio of 1.00, a quick ratio of 0.68 and a debt-to-equity ratio of 1.06.

Avista (NYSE:AVA - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The utilities provider reported $0.17 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.11). The business had revenue of $400.00 million during the quarter, compared to analyst estimates of $416.06 million. Avista had a net margin of 9.13% and a return on equity of 6.86%. During the same quarter in the prior year, the company earned $0.29 earnings per share. As a group, equities research analysts anticipate that Avista will post 2.3 EPS for the current year.

Insider Buying and Selling

In other Avista news, VP David J. Meyer sold 1,367 shares of the stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $36.72, for a total transaction of $50,196.24. Following the transaction, the vice president owned 8,394 shares of the company's stock, valued at $308,227.68. This trade represents a 14.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Bryan Alden Cox purchased 3,671 shares of the business's stock in a transaction on Tuesday, September 16th. The shares were bought at an average cost of $35.55 per share, for a total transaction of $130,504.05. Following the purchase, the senior vice president owned 9,989 shares of the company's stock, valued at $355,108.95. This trade represents a 58.10% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.94% of the company's stock.

Hedge Funds Weigh In On Avista

A number of hedge funds have recently made changes to their positions in the business. Ameritas Advisory Services LLC acquired a new stake in Avista during the 2nd quarter valued at $34,000. Bessemer Group Inc. lifted its position in shares of Avista by 54.8% in the 2nd quarter. Bessemer Group Inc. now owns 884 shares of the utilities provider's stock worth $34,000 after buying an additional 313 shares during the last quarter. Headlands Technologies LLC bought a new stake in Avista in the 2nd quarter valued at about $37,000. GAMMA Investing LLC lifted its position in Avista by 252.3% in the 1st quarter. GAMMA Investing LLC now owns 916 shares of the utilities provider's stock valued at $38,000 after purchasing an additional 656 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new stake in Avista in the 1st quarter valued at about $43,000. Hedge funds and other institutional investors own 85.24% of the company's stock.

Avista Company Profile

Avista Corporation, together with its subsidiaries, operates as an electric and natural gas utility company. It operates in two segments, Avista Utilities and AEL&P. The Avista Utilities segment provides electric distribution and transmission, and natural gas distribution services in parts of eastern Washington and northern Idaho; and natural gas distribution services in parts of northeastern and southwestern Oregon, as well as generates electricity in Washington, Idaho, Oregon, and Montana.

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