Royal Bank of Canada Downgrades Aveanna Healthcare (NASDAQ:AVAH) to Sector Perform

Royal Bank of Canada lowered shares of Aveanna Healthcare (NASDAQ:AVAHGet Rating) from an outperform rating to a sector perform rating in a research report released on Monday, Marketbeat Ratings reports. They currently have $3.00 price target on the stock, down from their previous price target of $7.00.

A number of other equities analysts also recently issued reports on the company. Stephens reduced their price target on Aveanna Healthcare from $2.25 to $1.50 and set an equal weight rating on the stock in a research report on Friday, November 11th. Truist Financial lowered their target price on shares of Aveanna Healthcare to $1.25 in a research note on Wednesday, November 16th. Credit Suisse Group lowered shares of Aveanna Healthcare from an outperform rating to a neutral rating and decreased their price target for the company from $5.50 to $2.00 in a research note on Thursday, November 17th. Raymond James cut their price objective on shares of Aveanna Healthcare from $8.00 to $6.00 and set a strong-buy rating for the company in a report on Monday, August 15th. Finally, Barclays cut their price objective on shares of Aveanna Healthcare from $7.00 to $5.00 and set an overweight rating for the company in a report on Friday, August 19th. One research analyst has rated the stock with a sell rating, five have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Hold and an average target price of $3.25.

Aveanna Healthcare Stock Performance

Shares of NASDAQ:AVAH opened at $0.74 on Monday. The company has a market capitalization of $136.65 million, a price-to-earnings ratio of -0.25 and a beta of 0.91. Aveanna Healthcare has a 52 week low of $0.70 and a 52 week high of $7.71. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 5.63. The firm has a 50 day moving average of $1.35 and a 200 day moving average of $2.03.

Aveanna Healthcare (NASDAQ:AVAHGet Rating) last issued its quarterly earnings data on Wednesday, November 9th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.07). The business had revenue of $443.01 million during the quarter, compared to the consensus estimate of $448.84 million. Aveanna Healthcare had a positive return on equity of 6.05% and a negative net margin of 31.44%. On average, sell-side analysts predict that Aveanna Healthcare will post 0.08 earnings per share for the current fiscal year.

Institutional Trading of Aveanna Healthcare

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Balyasny Asset Management LLC increased its holdings in shares of Aveanna Healthcare by 129.4% during the 3rd quarter. Balyasny Asset Management LLC now owns 32,181 shares of the company’s stock worth $48,000 after buying an additional 18,155 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of Aveanna Healthcare during the 3rd quarter worth approximately $130,000. BNP Paribas Arbitrage SNC purchased a new position in shares of Aveanna Healthcare during the 3rd quarter worth approximately $33,000. State Street Corp boosted its position in shares of Aveanna Healthcare by 3.3% during the 3rd quarter. State Street Corp now owns 804,308 shares of the company’s stock worth $1,206,000 after purchasing an additional 25,426 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Aveanna Healthcare by 54.5% during the 3rd quarter. Price T Rowe Associates Inc. MD now owns 59,518 shares of the company’s stock worth $90,000 after purchasing an additional 21,000 shares during the period. Institutional investors and hedge funds own 92.00% of the company’s stock.

About Aveanna Healthcare

(Get Rating)

Aveanna Healthcare Holdings Inc, a diversified home care platform company, provides private duty nursing (PDN), adult home health and hospice, home-based pediatric therapy, and enteral nutrition 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.

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