Todays Report: The Zacks: Analysts Set $39.75 Target Price for Avista Corp. (AVA)

The Zacks: Analysts Set $39.75 Target Price for Avista Corp. (AVA)

Shares of Avista Corp. (NYSE:AVA) have received a consensus broker rating score of 3.40 (Hold) from the five brokers that cover the stock, Zacks Investment Research reports. One analyst has rated the stock with a strong sell recommendation and four have given a hold recommendation to the company.

Analysts have set a 1 year consensus price target of $39.75 for the company and are expecting that the company will post $0.21 EPS for the current quarter, according to Zacks. Zacks has also assigned Avista Corp. an industry rank of 108 out of 265 based on the ratings given to its competitors.

AVA has been the subject of several recent research reports. Zacks Investment Research downgraded shares of Avista Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, July 5th. Williams Capital lifted their target price on shares of Avista Corp. from $38.00 to $40.00 and gave the stock a “hold” rating in a research note on Thursday, September 22nd.

Shares of Avista Corp. (NYSE:AVA) opened at 40.37 on Wednesday. The company has a market cap of $2.57 billion, a P/E ratio of 18.59 and a beta of 0.40. The stock’s 50 day moving average is $40.87 and its 200-day moving average is $41.55. Avista Corp. has a one year low of $32.61 and a one year high of $45.22.

Avista Corp. (NYSE:AVA) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.45 by $0.02. The company earned $234.79 million during the quarter, compared to the consensus estimate of $316.24 million. Avista Corp. had a return on equity of 8.32% and a net margin of 9.38%. The business’s revenue was down 5.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.40 EPS. Equities research analysts forecast that Avista Corp. will post $2.09 earnings per share for the current year.

In related news, SVP Jason R. Thackston sold 950 shares of the business’s stock in a transaction that occurred on Wednesday, September 14th. The shares were sold at an average price of $40.90, for a total transaction of $38,855.00. Following the completion of the transaction, the senior vice president now owns 17,232 shares of the company’s stock, valued at $704,788.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Marian M. Durkin sold 3,500 shares of the business’s stock in a transaction that occurred on Friday, August 12th. The shares were sold at an average price of $42.56, for a total transaction of $148,960.00. Following the transaction, the insider now directly owns 67,245 shares of the company’s stock, valued at approximately $2,861,947.20. The disclosure for this sale can be found here. Corporate insiders own 1.07% of the company’s stock.

A number of institutional investors have recently modified their holdings of AVA. Advisor Group Inc. purchased a new position in shares of Avista Corp. during the second quarter valued at approximately $107,000. Tower Research Capital LLC TRC boosted its position in shares of Avista Corp. by 24,520.0% in the second quarter. Tower Research Capital LLC TRC now owns 2,462 shares of the company’s stock valued at $111,000 after buying an additional 2,452 shares in the last quarter. Pinkerton Retirement Specialists LLC purchased a new position in shares of Avista Corp. during the second quarter valued at approximately $117,000. Trust Co. of Vermont purchased a new position in shares of Avista Corp. during the third quarter valued at approximately $117,000. Finally, Washington Trust Bank boosted its position in shares of Avista Corp. by 1.0% in the third quarter. Washington Trust Bank now owns 4,012 shares of the company’s stock valued at $168,000 after buying an additional 38 shares in the last quarter. 68.04% of the stock is owned by institutional investors.

Avista Corp. Company Profile

Avista Corporation is an electric and natural gas utility with certain other business ventures. The Company operates through two business segments: Avista Utilities, and Alaska Electric Light and Power Company (AEL&P). Avista Utilities segment generates, transmits and distributes electricity, and distributes natural gas serving electric and natural gas customers in eastern Washington and northern Idaho and natural gas customers in parts of Oregon.

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