Avista (NYSE:AVA) Downgraded to “Strong Sell” Rating by Zacks Research

Avista (NYSE:AVA) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Tuesday,Zacks.com reports.

A number of other research analysts have also recently commented on the stock. Barclays initiated coverage on shares of Avista in a report on Monday, March 9th. They issued an “equal weight” rating and a $40.00 price target on the stock. Wall Street Zen downgraded shares of Avista from a “hold” rating to a “sell” rating in a research note on Saturday, March 28th. Weiss Ratings lowered shares of Avista from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, March 10th. Jefferies Financial Group lowered their price target on Avista from $41.00 to $39.00 and set a “hold” rating for the company in a report on Wednesday, January 28th. Finally, KeyCorp reissued a “sector weight” rating on shares of Avista in a research note on Tuesday, January 27th. Five equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $39.50.

Avista Trading Up 1.4%

Shares of NYSE AVA opened at $40.69 on Tuesday. Avista has a fifty-two week low of $35.50 and a fifty-two week high of $43.50. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.56 and a current ratio of 0.83. The company has a market cap of $3.35 billion, a price-to-earnings ratio of 17.09, a PEG ratio of 2.22 and a beta of 0.23. The business’s 50 day moving average price is $40.69 and its 200-day moving average price is $39.47.

Avista (NYSE:AVA) last posted its quarterly earnings data on Saturday, January 31st. The utilities provider reported $0.88 earnings per share (EPS) for the quarter. Avista had a return on equity of 7.29% and a net margin of 9.83%. On average, sell-side analysts expect that Avista will post 2.3 earnings per share for the current year.

Insider Buying and Selling at Avista

In other news, SVP Bryan Alden Cox sold 1,768 shares of the firm’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $40.18, for a total value of $71,038.24. Following the completion of the sale, the senior vice president owned 8,401 shares of the company’s stock, valued at $337,552.18. This trade represents a 17.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.96% of the stock is owned by insiders.

Institutional Investors Weigh In On Avista

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. raised its position in shares of Avista by 8.0% in the 3rd quarter. Principal Financial Group Inc. now owns 519,946 shares of the utilities provider’s stock valued at $19,659,000 after purchasing an additional 38,651 shares during the last quarter. Inspire Advisors LLC purchased a new stake in Avista during the 3rd quarter worth approximately $1,118,000. Nuance Investments LLC grew its position in Avista by 50.4% during the 3rd quarter. Nuance Investments LLC now owns 288,203 shares of the utilities provider’s stock worth $10,897,000 after purchasing an additional 96,532 shares during the last quarter. Campbell & CO Investment Adviser LLC increased its stake in Avista by 146.6% during the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 76,039 shares of the utilities provider’s stock valued at $2,875,000 after purchasing an additional 45,200 shares in the last quarter. Finally, Westwood Holdings Group Inc. increased its stake in Avista by 52.7% during the 2nd quarter. Westwood Holdings Group Inc. now owns 2,110,711 shares of the utilities provider’s stock valued at $80,101,000 after purchasing an additional 728,543 shares in the last quarter. 85.24% of the stock is currently owned by hedge funds and other institutional investors.

Avista Company Profile

Avista Corporation operates as an integrated energy company providing electric and natural gas delivery services to residential, commercial and industrial customers in the Pacific Northwest. Through its regulated utility operations, the company maintains and upgrades an extensive transmission and distribution network, delivering reliable energy to approximately 400,000 electric customers and 324,000 natural gas customers across Washington, Oregon and Idaho. In addition to its core utility business, Avista invests in owned generation assets, including hydroelectric, natural gas–fired, coal and wind facilities, to support system reliability and long-term supply planning.

Founded in 1889 as the Spokane and Inland Empire Water Power Company, the business adopted the Avista name in 1999 to reflect its growing energy portfolio and strategic focus on innovation.