Aveanna Healthcare (NASDAQ:AVAH) Shares Gap Up on Analyst Upgrade

Shares of Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH) gapped up prior to trading on Tuesday after Barclays upgraded the stock from an equal weight rating to an overweight rating. The stock had previously closed at $7.04, but opened at $7.43. Barclays now has a $9.50 price target on the stock, up from their previous price target of $5.50. Aveanna Healthcare shares last traded at $7.28, with a volume of 632,781 shares trading hands.

AVAH has been the subject of several other research reports. Wall Street Zen raised Aveanna Healthcare from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 9th. Jefferies Financial Group raised shares of Aveanna Healthcare from a “hold” rating to a “buy” rating and dropped their price target for the stock from $6.25 to $6.00 in a research report on Monday, July 21st. Truist Financial cut their price target 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. Raymond James Financial upgraded shares of Aveanna Healthcare from a “market perform” rating to an “outperform” rating and set a $9.00 price objective on the stock in a research note on Monday, August 11th. Finally, UBS Group raised shares of Aveanna Healthcare from a “sell” rating to a “neutral” rating and upped their target price for the company from $6.75 to $8.00 in a report on Tuesday. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $7.50.

Insider Activity at Aveanna Healthcare

In other news, major shareholder Paul R. Vigano sold 750,000 shares of the 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 transaction, the insider owned 28,890,756 shares in the company, valued at approximately $150,231,931.20. This trade represents a 2.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Robert M. Williams, Jr. sold 750,000 shares of the business’s stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $5.20, for a total value 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 $150,231,931.20. This trade represents a 2.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,295,145 shares of company stock valued at $11,941,141 in the last 90 days. Corporate insiders own 7.80% of the company’s stock.

Hedge Funds Weigh In On Aveanna Healthcare

Several institutional investors and hedge funds have recently modified their holdings of the business. Banque Transatlantique SA acquired a new stake in Aveanna Healthcare in the 1st quarter worth about $25,000. BNP Paribas Financial Markets bought a new position in shares of Aveanna Healthcare during the fourth quarter worth approximately $35,000. Tower Research Capital LLC TRC raised its position in shares of Aveanna Healthcare by 662.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,889 shares of the company’s stock valued at $36,000 after buying an additional 6,854 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of Aveanna Healthcare in the second quarter valued at approximately $43,000. Finally, Diversified Trust Co bought a new stake in shares of Aveanna Healthcare in the second quarter valued at approximately $57,000. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Aveanna Healthcare Price Performance

The stock has a 50-day moving average of $4.88 and a 200-day moving average of $4.92. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of 90.00 and a beta of 1.95.

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.