Aveanna Healthcare (NASDAQ:AVAH) Stock Crosses Above 50-Day Moving Average - Here's Why

Key Points

• Aveanna Healthcare shares rose above their 50-day moving average, reaching $13.39 and last trading at $13.26, compared with a 50-day average of $13.10.
• Analysts have raised their price targets, with a consensus rating of “Moderate Buy” and an average target of $14.25; recent quarterly results also beat expectations for both earnings and revenue.
• Insiders sold approximately 48.6 million shares worth $558.5 million during the last quarter, while institutional investors own nearly 88% of the company.

Shares of Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH - Get Free Report) crossed above its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $13.10 and traded as high as $13.39. Aveanna Healthcare shares last traded at $13.26, with a volume of 2,326,589 shares traded.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Royal Bank Of Canada boosted their target price on shares of Aveanna Healthcare from $10.00 to $16.00 and gave the company an "outperform" rating in a report on Monday, August 24th. UBS Group raised their price target on shares of Aveanna Healthcare from $8.00 to $13.00 and gave the stock a "neutral" rating in a report on Friday, August 14th. Barclays lifted their price target on shares of Aveanna Healthcare from $9.50 to $15.00 and gave the company an "overweight" rating in a research report on Friday, August 28th. Raymond James Financial upped their price objective on Aveanna Healthcare from $13.00 to $15.00 and gave the company a "strong-buy" rating in a report on Friday, August 14th. Finally, JPMorgan Chase & Co. increased their price objective on Aveanna Healthcare from $8.00 to $15.00 and gave the stock a "neutral" rating in a research report on Monday, September 14th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $14.25.

Aveanna Healthcare Price Performance

The company has a debt-to-equity ratio of 4.47, a current ratio of 1.16 and a quick ratio of 1.16. The stock has a 50 day moving average price of $13.10 and a two-hundred day moving average price of $9.23. The firm has a market capitalization of $2.89 billion, a price-to-earnings ratio of 10.78, a PEG ratio of 0.80 and a beta of 1.95.

Aveanna Healthcare (NASDAQ:AVAH - Get Free Report) last posted its quarterly earnings data on Thursday, August 13th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.05. The firm had revenue of $670.48 million for the quarter, compared to the consensus estimate of $638.61 million. Aveanna Healthcare had a return on equity of 80.70% and a net margin of 10.56%. As a group, analysts expect that Aveanna Healthcare Holdings Inc. will post 0.77 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder Paul R. Vigano sold 14,500,002 shares of the company's stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $11.50, for a total transaction of $166,750,023.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder J.H. Whitney Equity Partners V sold 12,496,077 shares of the stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $11.50, for a total transaction of $143,704,885.50. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 48,566,081 shares of company stock valued at $558,509,932. 5.30% of the stock is owned by company insiders.

Institutional Trading of Aveanna Healthcare

A number of large investors have recently modified their holdings of AVAH. Sterling Capital Management LLC grew its stake in Aveanna Healthcare by 398.3% during the 3rd quarter. Sterling Capital Management LLC now owns 2,636 shares of the company's stock worth $33,000 after purchasing an additional 2,107 shares in the last quarter. Farther Finance Advisors LLC raised its position in Aveanna Healthcare by 217.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,978 shares of the company's stock valued at $37,000 after purchasing an additional 2,039 shares in the last quarter. GK Wealth Management LLC acquired a new stake in Aveanna Healthcare in the 3rd quarter valued at about $90,000. C M Bidwell & Associates Ltd. purchased a new position in shares of Aveanna Healthcare in the 2nd quarter valued at about $69,000. Finally, Summit Securities Group LLC purchased a new position in shares of Aveanna Healthcare in the 1st quarter valued at about $53,000. Hedge funds and other institutional investors own 87.96% of the company's stock.

About Aveanna Healthcare

Aveanna Healthcare Holdings Inc NASDAQ: AVAH is a provider of home-based healthcare services in the United States. The company serves patients across the lifespan, with a particular focus on children and adults who require ongoing medical support, skilled nursing or assistance with daily activities.

Aveanna's services include private-duty nursing, home health care, hospice and palliative care, therapy, medical solutions and personal-care services. Its clinicians and caregivers support patients with complex medical conditions, disabilities and other needs in their homes and community settings, working with patients, families, physicians and healthcare organizations.

The company was established in 2016 through the combination of Pediatric Services of America and Epic Health Services and became a publicly traded company in 2021.

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