Aveanna Healthcare (NASDAQ:AVAH) Rating Increased to Neutral at UBS Group

Key Points

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Aveanna Healthcare (NASDAQ:AVAH - Get Free Report) was upgraded by research analysts at UBS Group from a "sell" rating to a "neutral" rating in a note issued to investors on Tuesday, MarketBeat Ratings reports. The brokerage presently has a $8.00 target price on the stock, up from their previous target price of $6.75. UBS Group's price objective indicates a potential upside of 7.10% from the stock's current price.

AVAH has been the subject of a number of other reports. Truist Financial reduced their price objective on shares of Aveanna Healthcare from $6.00 to $5.00 and set a "hold" rating for the company in a research note on Wednesday, July 16th. Wall Street Zen upgraded shares of Aveanna Healthcare from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 9th. Barclays began coverage on shares of Aveanna Healthcare in a research note on Wednesday, July 2nd. They issued an "equal weight" rating and a $5.50 price objective for the company. Jefferies Financial Group upgraded shares of Aveanna Healthcare from a "hold" rating to a "buy" rating and reduced their price objective for the company from $6.25 to $6.00 in a research note on Monday, July 21st. Finally, Raymond James Financial upgraded shares of Aveanna Healthcare from a "market perform" rating to an "outperform" rating and set a $9.00 price objective for the company in a research note on Monday, August 11th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Aveanna Healthcare has a consensus rating of "Moderate Buy" and a consensus price target of $7.50.

Aveanna Healthcare Stock Performance

Aveanna Healthcare stock traded up $0.43 during mid-day trading on Tuesday, reaching $7.47. The company's stock had a trading volume of 1,547,703 shares, compared to its average volume of 1,739,328. Aveanna Healthcare has a 12-month low of $3.67 and a 12-month high of $7.69. The company has a market capitalization of $1.56 billion, a P/E ratio of 27.08 and a beta of 1.95. The firm's fifty day moving average price is $4.92 and its two-hundred day moving average price is $4.94.

Insider Activity

In other Aveanna Healthcare news, major shareholder Paul R. Vigano sold 750,000 shares of the stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $5.20, for a total transaction of $3,900,000.00. Following the transaction, the insider directly owned 28,890,756 shares in the company, valued at $150,231,931.20. This trade represents a 2.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Robert M. Williams, Jr. sold 750,000 shares of the business's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $5.20, for a total transaction of $3,900,000.00. Following the completion of the sale, the insider owned 28,890,756 shares of the company's stock, valued at approximately $150,231,931.20. The trade was a 2.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,295,145 shares of company stock valued at $11,941,141. 7.80% of the stock is owned by insiders.

Institutional Trading of Aveanna Healthcare

Several hedge funds have recently added to or reduced their stakes in the business. Oxford Asset Management LLP bought a new stake in Aveanna Healthcare in the second quarter worth $64,000. Lazard Asset Management LLC bought a new stake in Aveanna Healthcare in the second quarter worth $791,000. BNP Paribas Financial Markets lifted its stake in Aveanna Healthcare by 1,208.6% in the second quarter. BNP Paribas Financial Markets now owns 47,215 shares of the company's stock worth $247,000 after purchasing an additional 43,607 shares during the last quarter. Bank of America Corp DE lifted its stake in Aveanna Healthcare by 172.0% in the second quarter. Bank of America Corp DE now owns 143,405 shares of the company's stock worth $750,000 after purchasing an additional 90,673 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in Aveanna Healthcare by 168.0% in the second quarter. Ameriprise Financial Inc. now owns 145,982 shares of the company's stock worth $763,000 after purchasing an additional 91,508 shares during the last quarter. 87.96% of the stock is owned by institutional investors.

About Aveanna Healthcare

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.