Truist Financial Cuts Aveanna Healthcare (NASDAQ:AVAH) Price Target to $5.00

Aveanna Healthcare (NASDAQ:AVAH - Get Free Report) had its target price cut by equities researchers at Truist Financial from $6.00 to $5.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a "hold" rating on the stock. Truist Financial's target price would indicate a potential upside of 25.79% from the stock's previous close.

Several other equities analysts have also commented on the company. Barclays began coverage on Aveanna Healthcare in a research note on Wednesday, July 2nd. They set an "equal weight" rating and a $5.50 price target on the stock. Wall Street Zen lowered Aveanna Healthcare from a "strong-buy" rating to a "buy" rating in a research note on Friday, June 27th. Finally, UBS Group lifted their target price on Aveanna Healthcare from $4.50 to $5.00 and gave the company a "sell" rating in a research note on Friday, May 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $5.10.

Aveanna Healthcare Stock Performance

AVAH stock traded down $0.05 during midday trading on Wednesday, reaching $3.98. The company's stock had a trading volume of 77,449 shares, compared to its average volume of 349,866. The stock has a fifty day simple moving average of $5.05 and a two-hundred day simple moving average of $4.84. Aveanna Healthcare has a 1 year low of $2.61 and a 1 year high of $6.19. The firm has a market capitalization of $775.48 million, a price-to-earnings ratio of 198.30 and a beta of 1.98.

Insider Activity

In other news, major shareholder Robert M. Williams, Jr. sold 1,560,700 shares of the company's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $5.36, for a total transaction of $8,365,352.00. Following the transaction, the insider owned 29,640,756 shares in the company, valued at $158,874,452.16. This represents a 5.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Paul R. Vigano sold 1,560,700 shares of the company's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $5.36, for a total transaction of $8,365,352.00. Following the transaction, the insider owned 29,640,756 shares in the company, valued at approximately $158,874,452.16. This trade represents a 5.00% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,115,345 shares of company stock valued at $37,838,057. 7.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Aveanna Healthcare

Hedge funds have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD boosted its position in Aveanna Healthcare by 5.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 53,699 shares of the company's stock valued at $246,000 after buying an additional 2,649 shares during the last quarter. Rhumbline Advisers boosted its position in Aveanna Healthcare by 4.0% in the first quarter. Rhumbline Advisers now owns 75,581 shares of the company's stock valued at $410,000 after buying an additional 2,918 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Aveanna Healthcare by 0.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 466,706 shares of the company's stock valued at $2,133,000 after buying an additional 4,047 shares during the last quarter. MetLife Investment Management LLC boosted its position in Aveanna Healthcare by 16.2% in the first quarter. MetLife Investment Management LLC now owns 31,251 shares of the company's stock valued at $169,000 after buying an additional 4,349 shares during the last quarter. Finally, AQR Capital Management LLC boosted its position in Aveanna Healthcare by 21.2% in the first quarter. AQR Capital Management LLC now owns 26,280 shares of the company's stock valued at $142,000 after buying an additional 4,602 shares during the last quarter. Institutional investors and hedge funds own 87.96% of the company's stock.

Aveanna Healthcare Company Profile

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.