Avista (NYSE:AVA) Cut to Strong Sell at Zacks Research

Avista (NYSE:AVA) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Tuesday,Zacks.com reports.

A number of other equities research analysts have also commented on AVA. Wall Street Zen lowered Avista from a “hold” rating to a “sell” rating in a research report on Saturday, March 28th. KeyCorp restated a “sector weight” rating on shares of Avista in a research note on Tuesday, January 27th. Barclays began coverage on shares of Avista in a report on Monday, March 9th. They issued an “equal weight” rating and a $40.00 price objective on the stock. Jefferies Financial Group cut their price objective on shares of Avista from $41.00 to $39.00 and set a “hold” rating on the stock in a research note on Wednesday, January 28th. Finally, Wells Fargo & Company reduced their target price on shares of Avista from $38.00 to $37.00 and set an “equal weight” rating for the company in a report on Tuesday, January 20th. Five analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Avista presently has an average rating of “Reduce” and a consensus price target of $39.50.

Avista Stock Performance

Shares of AVA opened at $40.69 on Tuesday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.56 and a current ratio of 0.83. The stock has a 50-day moving average of $40.69 and a two-hundred day moving average of $39.47. The stock has a market cap of $3.35 billion, a P/E ratio of 17.09, a P/E/G ratio of 2.22 and a beta of 0.23. Avista has a one year low of $35.50 and a one year high of $43.50.

Avista (NYSE:AVA) last announced its quarterly earnings data on Saturday, January 31st. The utilities provider reported $0.88 earnings per share for the quarter. Avista had a return on equity of 7.29% and a net margin of 9.83%. As a group, research analysts predict that Avista will post 2.3 EPS for the current year.

Insider Transactions at Avista

In other Avista news, SVP Bryan Alden Cox sold 1,768 shares of the business’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $40.18, for a total value of $71,038.24. Following the completion of the transaction, the senior vice president directly owned 8,401 shares of the company’s stock, valued at approximately $337,552.18. The trade was a 17.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.96% of the company’s stock.

Institutional Investors Weigh In On Avista

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. UMB Bank n.a. lifted its stake in shares of Avista by 90.7% in the 4th quarter. UMB Bank n.a. now owns 637 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 303 shares during the period. Salomon & Ludwin LLC acquired a new stake in Avista during the third quarter valued at $26,000. Bayban acquired a new stake in Avista during the fourth quarter valued at $35,000. Headlands Technologies LLC purchased a new position in Avista in the second quarter valued at $37,000. Finally, Aquatic Capital Management LLC acquired a new position in shares of Avista in the third quarter worth about $43,000. Institutional investors and hedge funds own 85.24% of the company’s stock.

Avista Company Profile

Avista Corporation operates as an integrated energy company providing electric and natural gas delivery services to residential, commercial and industrial customers in the Pacific Northwest. Through its regulated utility operations, the company maintains and upgrades an extensive transmission and distribution network, delivering reliable energy to approximately 400,000 electric customers and 324,000 natural gas customers across Washington, Oregon and Idaho. In addition to its core utility business, Avista invests in owned generation assets, including hydroelectric, natural gas–fired, coal and wind facilities, to support system reliability and long-term supply planning.

Founded in 1889 as the Spokane and Inland Empire Water Power Company, the business adopted the Avista name in 1999 to reflect its growing energy portfolio and strategic focus on innovation.