Avation (LON:AVAP) Shares Pass Above 200-Day Moving Average - Here's Why

Avation PLC (LON:AVAP - Get Free Report) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 144.08 ($1.83) and traded as high as GBX 160 ($2.03). Avation shares last traded at GBX 158 ($2.01), with a volume of 62,454 shares traded.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group decreased their target price on shares of Avation from GBX 280 ($3.56) to GBX 255 ($3.24) and set a "buy" rating on the stock in a report on Thursday, September 26th.

Avation Price Performance

The company has a debt-to-equity ratio of 263.30, a quick ratio of 1.33 and a current ratio of 1.39. The stock has a 50-day simple moving average of GBX 163.36 and a 200 day simple moving average of GBX 144.08. The company has a market cap of £107.74 million, a P/E ratio of 752.38, a P/E/G ratio of -0.15 and a beta of 1.17.

Avation Increases Dividend

The company also recently disclosed a dividend, which will be paid on Monday, December 23rd. Shareholders of record on Thursday, November 28th will be issued a dividend of GBX 0.50 ($0.01) per share. This is a boost from Avation's previous dividend of $0.02. This represents a yield of 0.29%. The ex-dividend date is Thursday, November 28th. Avation's payout ratio is currently 3,809.52%.

Insider Activity at Avation

In related news, insider Stephen Fisher purchased 115 shares of the stock in a transaction on Friday, December 6th. The shares were purchased at an average price of £156 ($198.32) per share, with a total value of £17,940 ($22,807.02). 19.30% of the stock is currently owned by corporate insiders.

Avation Company Profile

Avation PLC, together with its subsidiaries, leases commercial passenger aircraft to airlines worldwide. The company's fleet includes 13 narrow-body jets, two twin-aisle jets, and 21 ATR 72 twin-engine turboprop aircraft. As of June 30, 2023, the company owned and managed a fleet of 36 aircraft.