Avista (NYSE:AVA) Rating Lowered to Sell at StockNews.com

Avista (NYSE:AVA) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Wednesday.

AVA has been the topic of a number of other reports. TheStreet lowered Avista from a “b” rating to a “c” rating in a research note on Tuesday, September 5th. Guggenheim lowered their target price on shares of Avista from $35.00 to $33.00 in a report on Friday, July 7th. Mizuho cut their price target on shares of Avista from $38.00 to $36.00 in a research note on Wednesday, August 9th. Finally, KeyCorp raised shares of Avista from an “underweight” rating to a “sector weight” rating in a research note on Friday, August 25th.

Avista Stock Up 1.5 %

Shares of NYSE AVA opened at $34.78 on Wednesday. The firm’s 50-day moving average is $35.96 and its two-hundred day moving average is $39.87. The company has a market capitalization of $2.66 billion, a PE ratio of 18.02, a price-to-earnings-growth ratio of 2.28 and a beta of 0.51. Avista has a 12-month low of $32.27 and a 12-month high of $45.28. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.97 and a quick ratio of 0.76.

Avista (NYSE:AVA) last issued its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.08. The business had revenue of $379.94 million for the quarter, compared to the consensus estimate of $398.20 million. Avista had a return on equity of 6.18% and a net margin of 8.38%. During the same period in the prior year, the business earned $0.16 earnings per share. Equities analysts anticipate that Avista will post 2.3 EPS for the current fiscal year.

Insider Activity at Avista

In related news, Chairman Scott L. Morris purchased 3,100 shares of Avista stock in a transaction dated Thursday, August 24th. The shares were acquired at an average price of $32.39 per share, with a total value of $100,409.00. Following the completion of the transaction, the chairman now owns 128,169 shares of the company’s stock, valued at approximately $4,151,393.91. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, VP David J. Meyer sold 1,050 shares of the stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $36.90, for a total transaction of $38,745.00. Following the sale, the vice president now directly owns 5,727 shares in the company, valued at approximately $211,326.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Scott L. Morris acquired 3,100 shares of Avista stock in a transaction that occurred on Thursday, August 24th. The shares were bought at an average price of $32.39 per share, with a total value of $100,409.00. Following the transaction, the chairman now directly owns 128,169 shares in the company, valued at $4,151,393.91. The disclosure for this purchase can be found here. 1.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Avista

Large investors have recently added to or reduced their stakes in the stock. Delta Asset Management LLC TN acquired a new stake in shares of Avista in the 4th quarter worth about $27,000. Bessemer Group Inc. raised its holdings in shares of Avista by 146.9% during the first quarter. Bessemer Group Inc. now owns 632 shares of the utilities provider’s stock valued at $27,000 after buying an additional 376 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Avista by 156.1% during the first quarter. EverSource Wealth Advisors LLC now owns 950 shares of the utilities provider’s stock worth $40,000 after buying an additional 579 shares during the period. Cutler Group LLC CA bought a new position in Avista in the 1st quarter worth approximately $42,000. Finally, Cerity Partners LLC acquired a new stake in Avista in the 1st quarter valued at approximately $1,463,000. 78.53% of the stock is owned by institutional investors and hedge funds.

Avista Company Profile

Avista Corporation, together with its subsidiaries, operates as an electric and natural gas utility company. It operates in two segments, Avista Utilities and AEL&P. The Avista Utilities segment provides electric distribution and transmission, and natural gas distribution services in parts of eastern Washington and northern Idaho; and natural gas distribution services in parts of northeastern and southwestern Oregon, as well as generates electricity in Washington, Idaho, Oregon, and Montana.