Truist Financial Issues Pessimistic Forecast for Aveanna Healthcare (NASDAQ:AVAH) Stock Price

Aveanna Healthcare (NASDAQ:AVAH) had its target price reduced by analysts at Truist Financial from $6.00 to $5.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Truist Financial’s target price would suggest a potential upside of 24.38% from the company’s current price.

A number of other equities analysts also recently commented on AVAH. UBS Group raised their price objective on Aveanna Healthcare from $4.50 to $5.00 and gave the stock a “sell” rating in a report on Friday, May 9th. Barclays began coverage on Aveanna Healthcare in a report on Wednesday, July 2nd. They issued an “equal weight” rating and a $5.50 price objective on the stock. Finally, Wall Street Zen downgraded Aveanna Healthcare from a “strong-buy” rating to a “buy” rating in a report on Friday, June 27th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to MarketBeat, Aveanna Healthcare presently has a consensus rating of “Hold” and an average price target of $5.10.

Aveanna Healthcare Price Performance

Aveanna Healthcare stock opened at $4.02 on Wednesday. The stock’s 50-day moving average is $5.05 and its 200-day moving average is $4.84. The company has a market cap of $784.26 million, a price-to-earnings ratio of 201.00 and a beta of 1.98. Aveanna Healthcare has a 12 month low of $2.61 and a 12 month high of $6.19.

Insider Activity at Aveanna Healthcare

In other Aveanna Healthcare news, CAO Deborah Stewart sold 15,457 shares of Aveanna Healthcare stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $5.56, for a total transaction of $85,940.92. Following the sale, the chief accounting officer directly owned 285,396 shares in the company, valued at $1,586,801.76. The trade was a 5.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Robert M. Williams, Jr. sold 750,000 shares of Aveanna Healthcare stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $5.20, for a total value of $3,900,000.00. Following the sale, the insider owned 28,890,756 shares in the company, valued at $150,231,931.20. This represents a 2.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,115,345 shares of company stock worth $37,838,057 over the last ninety days. Company insiders own 7.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in AVAH. Banque Transatlantique SA acquired a new position in shares of Aveanna Healthcare in the 1st quarter worth approximately $25,000. KLP Kapitalforvaltning AS acquired a new position in Aveanna Healthcare during the 4th quarter valued at approximately $35,000. BNP Paribas Financial Markets acquired a new position in Aveanna Healthcare during the 4th quarter valued at approximately $35,000. Tower Research Capital LLC TRC boosted its position in Aveanna Healthcare by 662.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,889 shares of the company’s stock worth $36,000 after acquiring an additional 6,854 shares during the period. Finally, Sagespring Wealth Partners LLC acquired a new stake in shares of Aveanna Healthcare in the fourth quarter valued at $57,000. Institutional investors and hedge funds own 87.96% of the company’s stock.

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.