Investment analysts at Bank of America assumed coverage on shares of Avista (NYSE:AVA – Get Free Report) in a research report issued to clients and investors on Thursday, StockNewsAPI reports. The firm set an “underperform” rating and a $37.00 price target on the utilities provider’s stock. Bank of America‘s price objective would suggest a potential downside of 2.12% from the stock’s current price.
Avista Price Performance
AVA opened at $37.80 on Thursday. The stock has a fifty day moving average price of $37.72 and a 200 day moving average price of $36.08. The company has a current ratio of 0.88, a quick ratio of 0.60 and a debt-to-equity ratio of 1.05. Avista has a 1 year low of $30.53 and a 1 year high of $39.99. The stock has a market cap of $2.96 billion, a price-to-earnings ratio of 15.68 and a beta of 0.47.
Avista (NYSE:AVA – Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.07. The business had revenue of $390.80 million during the quarter, compared to analyst estimates of $386.69 million. Avista had a return on equity of 7.77% and a net margin of 10.12%. The firm’s revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.23 EPS. Analysts forecast that Avista will post 2.42 EPS for the current fiscal year.
Insider Activity at Avista
Hedge Funds Weigh In On Avista
A number of institutional investors have recently modified their holdings of the company. Headlands Technologies LLC bought a new position in shares of Avista in the first quarter worth about $27,000. Mather Group LLC. acquired a new stake in Avista in the 1st quarter valued at approximately $32,000. Quest Partners LLC bought a new position in Avista in the 2nd quarter worth approximately $40,000. Quarry LP lifted its holdings in shares of Avista by 67.9% during the fourth quarter. Quarry LP now owns 1,179 shares of the utilities provider’s stock worth $42,000 after buying an additional 477 shares during the last quarter. Finally, EntryPoint Capital LLC bought a new stake in shares of Avista in the first quarter valued at approximately $73,000. Institutional investors own 85.24% of the company’s stock.
About Avista
Avista Corporation, together with its subsidiaries, operates as an electric and natural gas utility company. It operates in two segments, Avista Utilities and AEL&P. The Avista Utilities segment provides electric distribution and transmission, and natural gas distribution services in parts of eastern Washington and northern Idaho; and natural gas distribution services in parts of northeastern and southwestern Oregon, as well as generates electricity in Washington, Idaho, Oregon, and Montana.
Featured Articles
- Five stocks we like better than Avista
- Comparing and Trading High PE Ratio Stocks
- Understanding Treasury Bonds: Are They Right for Your Portfolio?
- 3 Stocks to Protect Your Portfolio from the Coronavirus Contagion
- Morgan Stanley Names Arm Holdings a Top Pick: Here’s Why
- How Technical Indicators Can Help You Find Oversold StocksĀ
- Banking Stocks Slide: Where to Invest Instead
Receive News & Ratings for Avista Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avista and related companies with MarketBeat.com's FREE daily email newsletter.