Avista Corporation (NYSE:AVA) Stock Has Consensus Target Price of $38.75 According to Analysts

Key Points

• Analysts have a consensus “Hold” rating on Avista, with an average 12-month price target of $38.75.
• Avista’s latest quarterly results fell short of expectations: earnings were $0.38 per share versus $0.42 forecast, while revenue was $421 million versus $425.52 million expected.
• Recent analyst moves were cautious: Weiss Ratings downgraded the stock to “Hold,” and Barclays cut its price target from $37 to $35 while maintaining an “Equal Weight” rating.

Shares of Avista Corporation (NYSE:AVA - Get Free Report) have earned a consensus recommendation of "Hold" from the seven brokerages that are covering the firm, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $38.75.

Several research firms have recently weighed in on AVA. Weiss Ratings cut shares of Avista from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, October 9th. Barclays dropped their price objective on shares of Avista from $37.00 to $35.00 and set an "equal weight" rating for the company in a report on Friday, October 9th.

Avista Stock Down 1.6%

Shares of NYSE AVA opened at $40.27 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.69 and a debt-to-equity ratio of 1.07. The business has a 50-day moving average of $36.75 and a 200-day moving average of $39.71. The firm has a market capitalization of $3.37 billion, a price-to-earnings ratio of 13.51, a PEG ratio of 4.24 and a beta of 0.22. Avista has a 12 month low of $34.46 and a 12 month high of $43.50.

Avista (NYSE:AVA - Get Free Report) last announced its earnings results on Wednesday, November 4th. The utilities provider reported $0.38 earnings per share for the quarter, missing analysts' consensus estimates of $0.42 by ($0.04). Avista had a net margin of 12.75% and a return on equity of 7.87%. The company had revenue of $421.00 million during the quarter, compared to analysts' expectations of $425.52 million. Sell-side analysts expect that Avista will post 2.61 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Avista news, VP Joshua Diluciano sold 4,675 shares of Avista stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $37.24, for a total transaction of $174,097.00. Following the completion of the sale, the vice president owned 8,334 shares of the company's stock, valued at $310,358.16. The trade was a 35.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.78% of the stock is owned by insiders.

Hedge Funds Weigh In On Avista

Institutional investors have recently modified their holdings of the company. Maryland State Retirement & Pension System boosted its stake in Avista by 55.0% in the third quarter. Maryland State Retirement & Pension System now owns 18,600 shares of the utilities provider's stock worth $653,000 after buying an additional 6,598 shares in the last quarter. Lido Advisors LLC grew its position in Avista by 21.6% during the third quarter. Lido Advisors LLC now owns 11,921 shares of the utilities provider's stock valued at $418,000 after acquiring an additional 2,116 shares during the last quarter. Keybank National Association OH grew its position in Avista by 9.0% during the third quarter. Keybank National Association OH now owns 16,117 shares of the utilities provider's stock valued at $566,000 after acquiring an additional 1,326 shares during the last quarter. AlphaCore Capital LLC grew its position in Avista by 4.4% during the third quarter. AlphaCore Capital LLC now owns 8,358 shares of the utilities provider's stock valued at $293,000 after acquiring an additional 352 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Avista by 2.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 40,717 shares of the utilities provider's stock worth $1,428,000 after acquiring an additional 783 shares in the last quarter. 85.24% of the stock is currently owned by institutional investors.

About Avista

Avista Corporation is an energy company headquartered in Spokane, Washington. Through its Avista Utilities subsidiary, the company provides regulated electric and natural gas services to residential, commercial, and industrial customers.

Avista's electric operations serve communities in eastern Washington and northern Idaho, while its natural gas service territory includes portions of Washington, Idaho, and Oregon. The company's utility activities include generating, purchasing, transmitting, distributing, and supplying energy, as well as maintaining the infrastructure needed to deliver those services.

The company traces its history to the founding of Washington Water Power in 1889.

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