Aveanna Healthcare (NASDAQ:AVAH) Upgraded to “Neutral” at UBS Group

UBS Group upgraded shares of Aveanna Healthcare (NASDAQ:AVAH) from a sell rating to a neutral rating in a research note issued to investors on Tuesday morning, Marketbeat.com reports. UBS Group currently has $8.00 price objective on the stock, up from their previous price objective of $6.75.

A number of other research firms also recently commented on AVAH. Truist Financial cut their target price on shares of Aveanna Healthcare from $6.00 to $5.00 and set a “hold” rating on the stock in a research report on Wednesday, July 16th. Wall Street Zen raised shares of Aveanna Healthcare from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 9th. Raymond James Financial raised 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 report on Monday, August 11th. Jefferies Financial Group raised shares of Aveanna Healthcare from a “hold” rating to a “buy” rating and cut their price objective for the stock from $6.25 to $6.00 in a research report on Monday, July 21st. Finally, Barclays assumed coverage on shares of Aveanna Healthcare in a research report on Wednesday, July 2nd. They issued an “equal weight” rating and a $5.50 price objective on the stock. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $7.50.

Aveanna Healthcare Stock Performance

NASDAQ AVAH opened at $7.27 on Tuesday. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of 90.88 and a beta of 1.95. The company’s 50-day simple moving average is $4.84 and its two-hundred day simple moving average is $4.90. Aveanna Healthcare has a one year low of $3.67 and a one year high of $7.61.

Insider Buying and Selling

In related news, major shareholder J.H. Whitney Equity Partners V sold 750,000 shares of Aveanna Healthcare stock in a transaction that occurred 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 directly owned 28,890,756 shares in the company, valued at $150,231,931.20. This trade represents a 2.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Paul R. Vigano 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 transaction 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 sold 2,295,145 shares of company stock worth $11,941,141 over the last ninety days. Company insiders own 7.00% of the company’s stock.

Institutional Trading of Aveanna Healthcare

A number of institutional investors have recently bought and sold shares of AVAH. Oxford Asset Management LLP acquired a new stake in Aveanna Healthcare during the 2nd quarter valued at approximately $64,000. Lazard Asset Management LLC acquired a new stake in Aveanna Healthcare during the 2nd quarter valued at approximately $791,000. BNP Paribas Financial Markets lifted its stake in Aveanna Healthcare by 1,208.6% during the 2nd quarter. BNP Paribas Financial Markets now owns 47,215 shares of the company’s stock valued at $247,000 after acquiring an additional 43,607 shares during the period. Bank of America Corp DE lifted its stake in Aveanna Healthcare by 172.0% during the 2nd quarter. Bank of America Corp DE now owns 143,405 shares of the company’s stock valued at $750,000 after acquiring an additional 90,673 shares during the period. Finally, Ameriprise Financial Inc. lifted its stake in Aveanna Healthcare by 168.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 145,982 shares of the company’s stock valued at $763,000 after acquiring an additional 91,508 shares during the period. 87.96% of the stock is currently owned by institutional investors and hedge funds.

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.