Aveanna Healthcare (NASDAQ:AVAH) Price Target Increased to $2.80 by Analysts at UBS Group

Aveanna Healthcare (NASDAQ:AVAH) had its target price boosted by investment analysts at UBS Group from $1.70 to $2.80 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has a “sell” rating on the stock. UBS Group’s target price would suggest a potential downside of 43.09% from the stock’s current price.

Aveanna Healthcare Stock Performance

Aveanna Healthcare stock traded up $0.39 during midday trading on Friday, hitting $4.92. 453,298 shares of the company’s stock were exchanged, compared to its average volume of 135,157. Aveanna Healthcare has a 12-month low of $0.85 and a 12-month high of $5.10. The stock has a market cap of $946.50 million, a price-to-earnings ratio of -8.27 and a beta of 2.08. The firm’s 50 day simple moving average is $3.11 and its 200 day simple moving average is $2.67.

Aveanna Healthcare (NASDAQ:AVAH) last issued its earnings results on Thursday, May 9th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.01. The firm had revenue of $490.65 million during the quarter, compared to analysts’ expectations of $485.05 million. During the same period in the previous year, the firm earned ($0.06) EPS. On average, equities research analysts forecast that Aveanna Healthcare will post -0.13 EPS for the current fiscal year.

Hedge Funds Weigh In On Aveanna Healthcare

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AVAH. King Street Capital Management L.P. raised its position in Aveanna Healthcare by 50.6% during the fourth quarter. King Street Capital Management L.P. now owns 6,400,000 shares of the company’s stock worth $17,152,000 after acquiring an additional 2,150,000 shares during the last quarter. Nut Tree Capital Management LP raised its position in Aveanna Healthcare by 11.7% during the fourth quarter. Nut Tree Capital Management LP now owns 12,372,649 shares of the company’s stock worth $33,159,000 after acquiring an additional 1,296,045 shares during the last quarter. Littlejohn & Co. LLC raised its position in Aveanna Healthcare by 7.4% during the first quarter. Littlejohn & Co. LLC now owns 8,377,258 shares of the company’s stock worth $20,859,000 after acquiring an additional 578,488 shares during the last quarter. Acadian Asset Management LLC raised its position in Aveanna Healthcare by 176.6% during the second quarter. Acadian Asset Management LLC now owns 81,275 shares of the company’s stock worth $222,000 after acquiring an additional 51,890 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Aveanna Healthcare by 1.8% during the first quarter. Vanguard Group Inc. now owns 2,571,251 shares of the company’s stock worth $6,402,000 after acquiring an additional 44,970 shares during the last quarter. 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.