Aveanna Healthcare (NASDAQ:AVAH) Sets New 12-Month High - Here's Why

Shares of Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH - Get Free Report) hit a new 52-week high during trading on Friday . The company traded as high as $5.99 and last traded at $5.87, with a volume of 202219 shares traded. The stock had previously closed at $5.59.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AVAH. Royal Bank of Canada lifted their price objective on Aveanna Healthcare from $3.00 to $5.00 and gave the stock a "sector perform" rating in a research report on Friday, August 9th. UBS Group lifted their price objective on Aveanna Healthcare from $1.70 to $2.80 and gave the stock a "sell" rating in a research report on Friday, August 9th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Aveanna Healthcare from $3.00 to $5.00 and gave the stock a "buy" rating in a research report on Friday, August 9th.

Aveanna Healthcare Stock Performance

The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of -8.95 and a beta of 2.13. The company has a 50-day moving average price of $5.13 and a 200-day moving average price of $3.90.

Aveanna Healthcare (NASDAQ:AVAH - Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.03. The business had revenue of $504.96 million for the quarter, compared to the consensus estimate of $494.02 million. As a group, sell-side analysts anticipate that Aveanna Healthcare Holdings Inc. will post -0.09 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Aveanna Healthcare

Several institutional investors have recently bought and sold shares of AVAH. Littlejohn & Co. LLC increased its position in shares of Aveanna Healthcare by 7.4% during the 1st quarter. Littlejohn & Co. LLC now owns 8,377,258 shares of the company's stock worth $20,859,000 after purchasing an additional 578,488 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Aveanna Healthcare by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 2,571,251 shares of the company's stock worth $6,402,000 after acquiring an additional 44,970 shares during the last quarter. Acadian Asset Management LLC grew its holdings in Aveanna Healthcare by 185.6% in the 1st quarter. Acadian Asset Management LLC now owns 29,385 shares of the company's stock valued at $72,000 after buying an additional 19,096 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Aveanna Healthcare by 6.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 149,761 shares of the company's stock valued at $413,000 after buying an additional 9,243 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in Aveanna Healthcare by 155.8% in the 2nd quarter. Renaissance Technologies LLC now owns 158,600 shares of the company's stock valued at $438,000 after buying an additional 96,600 shares in the last quarter. Institutional investors 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.

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