Aveanna Healthcare (NASDAQ:AVAH) Reaches New 12-Month High – Here’s Why

Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $9.35 and last traded at $9.32, with a volume of 1614602 shares. The stock had previously closed at $8.82.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on AVAH shares. Raymond James Financial raised shares of Aveanna Healthcare from a “market perform” rating to an “outperform” rating and set a $9.00 price objective for the company in a research report on Monday, August 11th. UBS Group boosted their price target on Aveanna Healthcare from $8.00 to $9.00 and gave the stock a “neutral” rating in a report on Monday. Barclays raised Aveanna Healthcare from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $5.50 to $9.50 in a research report on Tuesday, August 19th. JPMorgan Chase & Co. raised Aveanna Healthcare from an “underweight” rating to a “neutral” rating and increased their price target for the company from $6.00 to $10.00 in a research report on Thursday, September 18th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Aveanna Healthcare in a report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Aveanna Healthcare currently has a consensus rating of “Hold” and a consensus target price of $8.08.

Aveanna Healthcare Price Performance

The company has a market cap of $1.95 billion, a PE ratio of 116.50 and a beta of 2.05. The business has a 50-day moving average of $7.96 and a 200 day moving average of $5.90.

Aveanna Healthcare (NASDAQ:AVAH) last released its earnings results on Monday, May 22nd. The company reported $0.04 earnings per share (EPS) for the quarter. The firm had revenue of $450.53 million during the quarter. Aveanna Healthcare had a negative return on equity of 54.56% and a net margin of 0.85%. On average, equities analysts predict that Aveanna Healthcare Holdings Inc. will post -0.06 EPS for the current fiscal year.

Hedge Funds Weigh In On Aveanna Healthcare

Institutional investors and hedge funds have recently modified their holdings of the stock. Banque Transatlantique SA purchased a new stake in Aveanna Healthcare during the 1st quarter worth approximately $25,000. Quantbot Technologies LP acquired a new position in Aveanna Healthcare during the second quarter worth $43,000. Diversified Trust Co acquired a new position in Aveanna Healthcare during the second quarter worth $57,000. Jump Financial LLC acquired a new position in Aveanna Healthcare during the first quarter worth $59,000. Finally, MQS Management LLC acquired a new position in Aveanna Healthcare during the second quarter worth $59,000. 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.