Avista (NYSE:AVA) Coverage Initiated by Analysts at Jefferies Financial Group

Research analysts at Jefferies Financial Group initiated coverage on shares of Avista (NYSE:AVA - Get Free Report) in a research note issued to investors on Monday, MarketBeat Ratings reports. The firm set a "hold" rating and a $40.00 price target on the utilities provider's stock. Jefferies Financial Group's price objective would indicate a potential upside of 6.89% from the company's current price.

Separately, Bank of America began coverage on Avista in a report on Thursday, September 12th. They set an "underperform" rating and a $37.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $36.75.

Avista Price Performance

NYSE AVA traded up $0.17 on Monday, reaching $37.42. The company's stock had a trading volume of 474,681 shares, compared to its average volume of 514,320. Avista has a twelve month low of $31.91 and a twelve month high of $39.99. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.48 and a current ratio of 0.75. The firm's 50 day moving average is $37.92 and its two-hundred day moving average is $37.32. The stock has a market cap of $2.96 billion, a PE ratio of 14.84, a PEG ratio of 4.18 and a beta of 0.48.

Avista (NYSE:AVA - Get Free Report) last issued its earnings results on Wednesday, November 6th. The utilities provider reported $0.23 earnings per share for the quarter, topping analysts' consensus estimates of $0.13 by $0.10. Avista had a net margin of 10.24% and a return on equity of 7.83%. The firm had revenue of $383.70 million during the quarter, compared to analysts' expectations of $389.29 million. During the same period last year, the firm posted $0.19 earnings per share. The firm's revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, sell-side analysts predict that Avista will post 2.31 EPS for the current year.

Hedge Funds Weigh In On Avista

Several institutional investors and hedge funds have recently modified their holdings of AVA. Sanctuary Wealth Management L.L.C. acquired a new stake in Avista during the third quarter valued at $28,000. Capital Performance Advisors LLP bought a new stake in shares of Avista in the 3rd quarter valued at approximately $29,000. Quest Partners LLC acquired a new position in Avista in the second quarter worth approximately $40,000. KBC Group NV increased its holdings in Avista by 46.9% in the third quarter. KBC Group NV now owns 2,098 shares of the utilities provider's stock worth $81,000 after buying an additional 670 shares during the last quarter. Finally, Headlands Technologies LLC lifted its stake in Avista by 256.6% in the second quarter. Headlands Technologies LLC now owns 2,714 shares of the utilities provider's stock valued at $94,000 after acquiring an additional 1,953 shares during the last quarter. 85.24% of the stock is currently owned by hedge funds and other institutional investors.

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.