Aveanna Healthcare (NASDAQ:AVAH) Reaches New 52-Week High Following Analyst Upgrade

Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH)’s stock price reached a new 52-week high during trading on Wednesday after Barclays upgraded the stock from an equal weight rating to an overweight rating. Barclays now has a $9.50 price target on the stock, up from their previous price target of $5.50. Aveanna Healthcare traded as high as $7.61 and last traded at $7.27, with a volume of 3007322 shares. The stock had previously closed at $7.04.

AVAH has been the subject of a number of other reports. Wall Street Zen upgraded 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 target price for the company in a report on Monday, August 11th. Jefferies Financial Group upgraded shares of Aveanna Healthcare from a “hold” rating to a “buy” rating and cut their price objective for the company from $6.25 to $6.00 in a report on Monday, July 21st. Truist Financial decreased 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 note on Wednesday, July 16th. Finally, UBS Group upgraded Aveanna Healthcare from a “sell” rating to a “neutral” rating and upped their price target for the company from $6.75 to $8.00 in a research report on Tuesday. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $7.50.

Insider Transactions at Aveanna Healthcare

In related news, insider Patrick A. Cunningham sold 18,500 shares of the company’s stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $4.93, for a total value of $91,205.00. Following the completion of the transaction, the insider directly owned 327,869 shares of the company’s stock, valued at $1,616,394.17. This represents a 5.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Paul R. Vigano sold 750,000 shares of the stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $5.20, for a total transaction of $3,900,000.00. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,295,145 shares of company stock valued at $11,941,141. 7.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Aveanna Healthcare

Hedge funds have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD lifted its position in Aveanna Healthcare by 5.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 53,699 shares of the company’s stock valued at $246,000 after purchasing an additional 2,649 shares during the period. Rhumbline Advisers grew its position in Aveanna Healthcare by 4.0% during the first quarter. Rhumbline Advisers now owns 75,581 shares of the company’s stock worth $410,000 after buying an additional 2,918 shares during the period. MetLife Investment Management LLC increased its holdings in Aveanna Healthcare by 16.2% in the first quarter. MetLife Investment Management LLC now owns 31,251 shares of the company’s stock valued at $169,000 after buying an additional 4,349 shares in the last quarter. AQR Capital Management LLC increased its stake in Aveanna Healthcare by 21.2% in the 1st quarter. AQR Capital Management LLC now owns 26,280 shares of the company’s stock valued at $142,000 after purchasing an additional 4,602 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Aveanna Healthcare by 4.2% during the 1st quarter. Bank of New York Mellon Corp now owns 114,881 shares of the company’s stock worth $623,000 after buying an additional 4,655 shares during the last quarter. 87.96% of the stock is owned by institutional investors and hedge funds.

Aveanna Healthcare Stock Performance

The firm’s 50-day moving average is $4.92 and its 200 day moving average is $4.94. The firm has a market capitalization of $1.47 billion, a PE ratio of 88.00 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.