Royal Bank Of Canada Issues Positive Forecast for Aveanna Healthcare (NASDAQ:AVAH) Stock Price

Key Points

• Royal Bank of Canada raised Aveanna Healthcare’s price target from $10 to $16 and maintained an “outperform” rating, implying approximately 21.6% upside from the prior close.
• Aveanna reported quarterly EPS of $0.22, exceeding estimates of $0.17, while revenue of $670.48 million also topped expectations. Analysts have a consensus “Moderate Buy” rating and an average price target of $12.44.
• Institutional investors own nearly 88% of the company, while insiders have sold approximately 31.2 million shares worth $214.6 million over the past three months.

Aveanna Healthcare (NASDAQ:AVAH - Get Free Report) had its target price boosted by analysts at Royal Bank Of Canada from $10.00 to $16.00 in a research note issued on Monday,Benzinga reports. The firm presently has an "outperform" rating on the stock. Royal Bank Of Canada's price objective would indicate a potential upside of 21.58% from the company's previous close.

A number of other analysts have also recently issued reports on the stock. UBS Group increased their price objective on shares of Aveanna Healthcare from $8.00 to $13.00 and gave the stock a "neutral" rating in a research note on Friday, August 14th. BMO Capital Markets lifted their price objective on shares of Aveanna Healthcare from $10.00 to $14.00 and gave the company an "outperform" rating in a report on Friday, August 14th. Raymond James Financial increased their target price on Aveanna Healthcare from $13.00 to $15.00 and gave the company a "strong-buy" rating in a research report on Friday, August 14th. Weiss Ratings restated a "hold (c+)" rating on shares of Aveanna Healthcare in a report on Thursday, July 2nd. Finally, Stephens raised shares of Aveanna Healthcare from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $10.00 to $11.00 in a report on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $12.44.

Aveanna Healthcare Price Performance

Shares of NASDAQ:AVAH opened at $13.16 on Monday. The stock has a 50 day moving average price of $9.58 and a 200-day moving average price of $7.92. The company has a debt-to-equity ratio of 4.47, a quick ratio of 1.16 and a current ratio of 1.16. The firm has a market capitalization of $2.87 billion, a P/E ratio of 10.70, a P/E/G ratio of 0.92 and a beta of 1.90. Aveanna Healthcare has a 52-week low of $5.93 and a 52-week high of $13.61.

Aveanna Healthcare (NASDAQ:AVAH - Get Free Report) last announced its quarterly earnings data on Thursday, August 13th. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.17 by $0.05. The business had revenue of $670.48 million during the quarter, compared to analysts' expectations of $638.61 million. Aveanna Healthcare had a return on equity of 80.70% and a net margin of 10.56%. As a group, equities research analysts anticipate that Aveanna Healthcare will post 0.68 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Paul R. Vigano sold 3,000,000 shares of Aveanna Healthcare stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $8.01, for a total value of $24,030,000.00. Following the completion of the transaction, the insider owned 190,130 shares in the company, valued at approximately $1,522,941.30. The trade was a 94.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Robert M. Williams, Jr. sold 3,000,000 shares of the business's stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $8.01, for a total transaction of $24,030,000.00. Following the completion of the transaction, the insider owned 190,130 shares of the company's stock, valued at approximately $1,522,941.30. This trade represents a 94.04% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 31,180,664 shares of company stock worth $214,607,160 over the last three months. Company insiders own 5.30% of the company's stock.

Institutional Investors Weigh In On Aveanna Healthcare

Large investors have recently modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of Aveanna Healthcare in the 2nd quarter valued at about $63,504,000. Vanguard Group Inc. raised its stake in shares of Aveanna Healthcare by 38.0% during the 4th quarter. Vanguard Group Inc. now owns 5,577,010 shares of the company's stock worth $45,564,000 after buying an additional 1,535,351 shares during the last quarter. Millennium Management LLC lifted its stake in Aveanna Healthcare by 1,007.1% in the 4th quarter. Millennium Management LLC now owns 1,114,717 shares of the company's stock valued at $9,107,000 after buying an additional 1,014,030 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Aveanna Healthcare during the second quarter valued at approximately $7,881,000. Finally, Nuveen LLC boosted its stake in Aveanna Healthcare by 135.9% in the 4th quarter. Nuveen LLC now owns 1,571,308 shares of the company's stock worth $12,838,000 after buying an additional 905,316 shares during the last quarter. 87.96% of the stock is owned by hedge funds and other institutional investors.

Aveanna Healthcare Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source