Canaccord Genuity Group Reiterates Buy Rating for Avation (LON:AVAP)

Avation (LON:AVAP)‘s stock had its “buy” rating reaffirmed by stock analysts at Canaccord Genuity Group in a report issued on Tuesday,Digital Look reports. They currently have a GBX 285 ($3.57) price objective on the stock. Canaccord Genuity Group’s price objective points to a potential upside of 83.87% from the company’s current price.

Separately, Canaccord Genuity Group decreased their target price on shares of Avation from GBX 280 ($3.50) to GBX 255 ($3.19) and set a “buy” rating on the stock in a research report on Thursday, September 26th.

Avation Stock Performance

Shares of LON:AVAP traded up GBX 7.50 ($0.09) on Tuesday, hitting GBX 155 ($1.94). The company had a trading volume of 528,903 shares, compared to its average volume of 290,302. The stock has a 50 day moving average price of GBX 161.52 and a 200 day moving average price of GBX 145.40. The company has a current ratio of 1.39, a quick ratio of 1.33 and a debt-to-equity ratio of 263.30. The stock has a market cap of £109.86 million, a price-to-earnings ratio of 738.10, a P/E/G ratio of -0.15 and a beta of 1.17. Avation has a 1-year low of GBX 102.80 ($1.29) and a 1-year high of GBX 192 ($2.40).

Insiders Place Their Bets

In other news, insider Stephen Fisher purchased 115 shares of Avation stock in a transaction dated Friday, December 6th. The shares were bought at an average cost of £156 ($195.17) per share, for a total transaction of £17,940 ($22,444.64). Insiders own 19.30% of the company’s stock.

About Avation

Avation PLC, together with its subsidiaries, leases commercial passenger aircraft to airlines worldwide. The company's fleet includes 13 narrow-body jets, two twin-aisle jets, and 21 ATR 72 twin-engine turboprop aircraft. As of June 30, 2023, the company owned and managed a fleet of 36 aircraft.