Aveanna Healthcare (NASDAQ:AVAH) Reaches New 12-Month High – Time to Buy?

Shares of Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH) hit a new 52-week high on Tuesday . The company traded as high as $10.28 and last traded at $10.27, with a volume of 958512 shares traded. The stock had previously closed at $9.86.

Analyst Ratings Changes

A number of equities analysts recently commented on AVAH shares. Wall Street Zen upgraded Aveanna Healthcare from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 9th. Weiss Ratings restated a “hold (c)” rating on shares of Aveanna Healthcare in a report on Wednesday, October 8th. Jefferies Financial Group raised shares of Aveanna Healthcare from a “hold” rating to a “buy” rating and cut their target price for the company from $6.25 to $6.00 in a research note on Monday, July 21st. Raymond James Financial upgraded shares of Aveanna Healthcare from a “market perform” rating to an “outperform” rating and set a $9.00 price target on the stock in a research report on Monday, August 11th. Finally, Barclays upgraded shares of Aveanna Healthcare from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $5.50 to $9.50 in a report on Tuesday, August 19th. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $8.08.

Aveanna Healthcare Stock Performance

The stock’s 50-day moving average price is $8.30 and its two-hundred day moving average price is $6.04. The stock has a market capitalization of $2.15 billion, a PE ratio of 128.38 and a beta of 2.05.

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

Institutional Investors Weigh In On Aveanna Healthcare

Hedge funds have recently added to or reduced their stakes in the stock. Summit Partners L P bought a new position in shares of Aveanna Healthcare during the second quarter valued at $50,477,000. Assenagon Asset Management S.A. purchased a new stake in Aveanna Healthcare during the 3rd quarter valued at about $7,356,000. First Eagle Investment Management LLC increased its stake in Aveanna Healthcare by 12.1% during the 2nd quarter. First Eagle Investment Management LLC now owns 810,667 shares of the company’s stock valued at $4,240,000 after purchasing an additional 87,500 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in Aveanna Healthcare by 103.9% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 664,890 shares of the company’s stock valued at $3,477,000 after purchasing an additional 338,746 shares in the last quarter. Finally, Squarepoint Ops LLC raised its holdings in Aveanna Healthcare by 207.0% in the second quarter. Squarepoint Ops LLC now owns 479,977 shares of the company’s stock worth $2,510,000 after buying an additional 323,656 shares during the last quarter. 87.96% of the stock is owned by institutional investors.

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.