Avista (NYSE:AVA) PT Raised to $41.00

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Avista (NYSE:AVA) had its target price raised by equities research analysts at KeyCorp from $37.00 to $41.00 in a research report issued to clients and investors on Monday, BenzingaRatingsTable reports. The brokerage presently has an “underweight” rating on the utilities provider’s stock. KeyCorp’s target price indicates a potential downside of 14.26% from the stock’s previous close.

Several other equities analysts have also issued reports on AVA. Zacks Investment Research lowered shares of Avista from a “buy” rating to a “hold” rating in a report on Tuesday, October 8th. ValuEngine upgraded shares of Avista from a “hold” rating to a “buy” rating in a report on Tuesday, July 2nd. Finally, Williams Capital lowered shares of Avista from a “hold” rating to a “sell” rating and upped their price objective for the company from $41.00 to $42.00 in a report on Monday, September 16th. Four investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the company’s stock. Avista has an average rating of “Hold” and an average price target of $43.60.

AVA stock opened at $47.82 on Monday. The firm has a market cap of $3.17 billion, a price-to-earnings ratio of 22.66, a PEG ratio of 7.43 and a beta of 0.37. The company has a quick ratio of 0.39, a current ratio of 0.52 and a debt-to-equity ratio of 0.93. Avista has a 12-month low of $39.75 and a 12-month high of $52.70. The company’s fifty day simple moving average is $48.00 and its 200 day simple moving average is $44.99.

Avista (NYSE:AVA) last released its earnings results on Wednesday, August 7th. The utilities provider reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.03. The business had revenue of $300.81 million for the quarter, compared to analyst estimates of $315.08 million. Avista had a net margin of 14.43% and a return on equity of 6.35%. During the same quarter in the previous year, the business earned $0.39 earnings per share. Research analysts expect that Avista will post 1.95 earnings per share for the current year.

In other news, VP James M. Kensok sold 760 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $46.95, for a total transaction of $35,682.00. Following the transaction, the vice president now owns 8,649 shares in the company, valued at $406,070.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director R John Taylor sold 1,438 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $46.78, for a total transaction of $67,269.64. Following the transaction, the director now owns 423 shares in the company, valued at approximately $19,787.94. The disclosure for this sale can be found here. Insiders have sold 8,698 shares of company stock worth $407,282 in the last quarter. Company insiders own 1.10% of the company’s stock.

Several large investors have recently bought and sold shares of the company. State of Alaska Department of Revenue increased its position in shares of Avista by 1.0% during the second quarter. State of Alaska Department of Revenue now owns 22,379 shares of the utilities provider’s stock worth $998,000 after acquiring an additional 230 shares in the last quarter. D.A. Davidson & CO. increased its position in shares of Avista by 3.3% during the second quarter. D.A. Davidson & CO. now owns 9,310 shares of the utilities provider’s stock worth $415,000 after acquiring an additional 300 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Avista by 0.9% during the second quarter. BNP Paribas Arbitrage SA now owns 35,128 shares of the utilities provider’s stock worth $1,567,000 after acquiring an additional 306 shares in the last quarter. Signaturefd LLC increased its position in shares of Avista by 101.9% during the third quarter. Signaturefd LLC now owns 624 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 315 shares in the last quarter. Finally, 6 Meridian increased its position in shares of Avista by 2.2% during the second quarter. 6 Meridian now owns 16,927 shares of the utilities provider’s stock worth $755,000 after acquiring an additional 359 shares in the last quarter. 79.92% of the stock is owned by institutional investors.

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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