Analysts Set Avista Corp (NYSE:AVA) PT at $41.60
Shares of Avista Corp (NYSE:AVA) have been assigned a consensus rating of “Hold” from the seven analysts that are covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $41.60.
AVA has been the subject of a number of research reports. ValuEngine cut Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. TheStreet downgraded Worthington Industries from a “b-” rating to a “c+” rating in a report on Monday, June 10th. Bank of America began coverage on Coty in a report on Thursday, May 9th. They set a “neutral” rating and a $12.00 price target for the company. Zacks Investment Research raised Falcon Minerals from a “sell” rating to a “hold” rating in a report on Monday, July 22nd. Finally, KeyCorp restated an “overweight” rating and issued a $46.00 price target on shares of FirstEnergy in a research report on Wednesday, June 5th.
Shares of NYSE AVA traded up $0.27 during midday trading on Tuesday, hitting $45.73. The stock had a trading volume of 178,875 shares, compared to its average volume of 348,917. The firm has a market capitalization of $3.01 billion, a P/E ratio of 21.67, a PEG ratio of 7.15 and a beta of 0.43. The company’s 50 day simple moving average is $44.75. Avista has a 1 year low of $39.75 and a 1 year high of $52.70. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.64 and a quick ratio of 0.54.
In other Avista news, Chairman Scott L. Morris sold 23,000 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $44.33, for a total transaction of $1,019,590.00. Following the transaction, the chairman now owns 198,865 shares in the company, valued at approximately $8,815,685.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jason R. Thackston sold 1,250 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $43.58, for a total value of $54,475.00. Following the transaction, the senior vice president now owns 23,952 shares in the company, valued at approximately $1,043,828.16. The disclosure for this sale can be found here. Insiders have sold a total of 37,986 shares of company stock worth $1,672,624 in the last quarter. 1.10% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC acquired a new stake in shares of Avista in the 1st quarter worth approximately $40,892,000. BlackRock Inc. increased its holdings in Avista by 8.1% in the 1st quarter. BlackRock Inc. now owns 12,524,697 shares of the utilities provider’s stock valued at $508,754,000 after purchasing an additional 938,978 shares in the last quarter. Deprince Race & Zollo Inc. acquired a new stake in Avista in the 1st quarter valued at $27,001,000. Norges Bank acquired a new stake in Avista in the 4th quarter valued at $25,267,000. Finally, OLD Republic International Corp increased its holdings in Avista by 67.7% in the 1st quarter. OLD Republic International Corp now owns 674,000 shares of the utilities provider’s stock valued at $27,378,000 after purchasing an additional 272,000 shares in the last quarter. Institutional investors own 78.23% of the company’s stock.
Avista Company Profile
Avista Corporation operates as an electric and natural gas utility company. It operates through 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.
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