Avista (NYSE:AVA) Downgraded by Wall Street Zen to “Sell”

Avista (NYSE:AVA) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

Several other research firms also recently weighed in on AVA. Wells Fargo & Company reduced their target price on Avista from $38.00 to $37.00 and set an “equal weight” rating for the company in a report on Tuesday, January 20th. Jefferies Financial Group cut their price target on Avista from $41.00 to $39.00 and set a “hold” rating on the stock in a research report on Wednesday, January 28th. KeyCorp reiterated a “sector weight” rating on shares of Avista in a research note on Tuesday, January 27th. Barclays initiated coverage on Avista in a report on Monday, March 9th. They issued an “equal weight” rating and a $40.00 price objective for the company. Finally, Weiss Ratings lowered shares of Avista from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, March 10th. Five investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $39.50.

Avista Trading Up 0.8%

Shares of Avista stock opened at $39.90 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.56 and a debt-to-equity ratio of 1.04. The company has a fifty day simple moving average of $40.68 and a 200-day simple moving average of $39.36. The stock has a market cap of $3.28 billion, a price-to-earnings ratio of 16.77, a PEG ratio of 2.23 and a beta of 0.28. Avista has a 12-month low of $35.50 and a 12-month high of $43.50.

Avista (NYSE:AVA) last announced its quarterly earnings results on Saturday, January 31st. The utilities provider reported $0.88 EPS for the quarter. Avista had a net margin of 9.83% and a return on equity of 7.29%. On average, equities analysts forecast that Avista will post 2.3 EPS for the current fiscal year.

Insider Transactions at Avista

In other Avista news, SVP Bryan Alden Cox sold 1,768 shares of the business’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $40.18, for a total value of $71,038.24. Following the transaction, the senior vice president directly owned 8,401 shares of the company’s stock, valued at approximately $337,552.18. The trade was a 17.39% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.96% of the company’s stock.

Institutional Trading of Avista

Hedge funds and other institutional investors have recently made changes to their positions in the company. First Trust Advisors LP increased its holdings in Avista by 359.4% in the third quarter. First Trust Advisors LP now owns 1,282,508 shares of the utilities provider’s stock valued at $48,492,000 after buying an additional 1,003,362 shares in the last quarter. Norges Bank acquired a new stake in shares of Avista in the 2nd quarter worth approximately $29,674,000. Westwood Holdings Group Inc. increased its stake in Avista by 52.7% in the 2nd quarter. Westwood Holdings Group Inc. now owns 2,110,711 shares of the utilities provider’s stock valued at $80,101,000 after purchasing an additional 728,543 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Avista by 105.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,137,236 shares of the utilities provider’s stock valued at $43,829,000 after purchasing an additional 582,742 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in Avista by 37,219.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 541,136 shares of the utilities provider’s stock worth $20,855,000 after purchasing an additional 539,686 shares during the last quarter. Hedge funds and other institutional investors own 85.24% of the company’s stock.

About Avista

Avista Corporation operates as an integrated energy company providing electric and natural gas delivery services to residential, commercial and industrial customers in the Pacific Northwest. Through its regulated utility operations, the company maintains and upgrades an extensive transmission and distribution network, delivering reliable energy to approximately 400,000 electric customers and 324,000 natural gas customers across Washington, Oregon and Idaho. In addition to its core utility business, Avista invests in owned generation assets, including hydroelectric, natural gas–fired, coal and wind facilities, to support system reliability and long-term supply planning.

Founded in 1889 as the Spokane and Inland Empire Water Power Company, the business adopted the Avista name in 1999 to reflect its growing energy portfolio and strategic focus on innovation.