Aveanna Healthcare (NASDAQ:AVAH) Lowered to Underperform at Bank of America

Bank of America downgraded shares of Aveanna Healthcare (NASDAQ:AVAHGet Rating) from a neutral rating to an underperform rating in a research note published on Tuesday morning, The Fly reports. Bank of America currently has $2.00 price objective on the stock, down from their prior price objective of $3.00.

A number of other research firms have also weighed in on AVAH. Credit Suisse Group cut their target price on shares of Aveanna Healthcare from $12.00 to $9.50 and set an outperform rating for the company in a report on Wednesday, March 30th. Barclays cut their target price on shares of Aveanna Healthcare from $16.00 to $7.00 and set an overweight rating for the company in a report on Wednesday, March 30th. Stephens lowered shares of Aveanna Healthcare from an overweight rating to an equal weight rating and cut their target price for the company from $5.50 to $3.50 in a report on Tuesday. Royal Bank of Canada cut their target price on shares of Aveanna Healthcare from $16.00 to $9.00 and set an outperform rating for the company in a report on Thursday, March 31st. Finally, Raymond James cut their target price on shares of Aveanna Healthcare from $12.00 to $8.00 and set a strong-buy rating for the company in a report on Thursday, March 31st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Aveanna Healthcare presently has an average rating of Moderate Buy and an average target price of $6.89.

Shares of AVAH opened at $2.71 on Tuesday. The company has a debt-to-equity ratio of 1.84, a current ratio of 0.78 and a quick ratio of 0.78. Aveanna Healthcare has a 1 year low of $2.09 and a 1 year high of $12.99. The company has a 50 day simple moving average of $2.89 and a two-hundred day simple moving average of $4.58. The firm has a market cap of $500.62 million, a P/E ratio of -5.21 and a beta of 0.96.

Aveanna Healthcare (NASDAQ:AVAHGet Rating) last announced its quarterly earnings data on Monday, March 28th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.01). Aveanna Healthcare had a negative net margin of 5.70% and a positive return on equity of 8.90%. The company had revenue of $414.07 million for the quarter, compared to analysts’ expectations of $420.19 million. On average, sell-side analysts anticipate that Aveanna Healthcare will post 0.35 earnings per share for the current year.

In related news, CFO David Afshar purchased 12,036 shares of the stock in a transaction that occurred on Monday, May 16th. The stock was bought at an average cost of $2.86 per share, for a total transaction of $34,422.96. Following the completion of the transaction, the chief financial officer now directly owns 272,380 shares in the company, valued at $779,006.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Tony Strange bought 36,000 shares of the firm’s stock in a transaction dated Thursday, May 19th. The shares were acquired at an average price of $2.90 per share, with a total value of $104,400.00. Following the completion of the transaction, the insider now owns 1,680,134 shares of the company’s stock, valued at approximately $4,872,388.60. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 90,136 shares of company stock valued at $259,733. 8.60% of the stock is owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the company. Regentatlantic Capital LLC bought a new stake in shares of Aveanna Healthcare during the first quarter worth $34,000. Citigroup Inc. grew its stake in shares of Aveanna Healthcare by 147.8% during the third quarter. Citigroup Inc. now owns 4,550 shares of the company’s stock worth $36,000 after acquiring an additional 2,714 shares during the last quarter. Virginia Retirement Systems ET AL acquired a new stake in shares of Aveanna Healthcare during the first quarter worth about $50,000. Delphia USA Inc. acquired a new stake in shares of Aveanna Healthcare during the first quarter worth about $60,000. Finally, Envestnet Asset Management Inc. lifted its holdings in Aveanna Healthcare by 15.7% in the first quarter. Envestnet Asset Management Inc. now owns 26,363 shares of the company’s stock valued at $90,000 after acquiring an additional 3,569 shares during the period. Institutional investors and hedge funds own 95.00% of the company’s stock.

About Aveanna Healthcare (Get Rating)

Aveanna Healthcare Holdings Inc, a diversified home care platform company, provides private duty nursing (PDN), adult home health and hospice, home-based pediatric therapy, and enteral nutrition 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.

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