Avista Corp (AVA) has recently been receiving attention from various reports and analysts. StockNews.com initiated coverage on Avista, issuing a “hold” rating for the company. Mizuho also decreased their price objective for Avista, while Guggenheim decreased theirs as well.
In a notable development, Chairman Scott L. Morris purchased 3,100 shares of Avista stock on Thursday, August 24th. The acquisition was made at an average cost of $32.39 per share, resulting in a total transaction value of $100,409. Following this purchase, Chairman Morris now holds 128,169 shares of the company’s stock, valued at approximately $4,151,393.91
The details of Chairman Morris’ purchase were disclosed in a legal filing with the Securities & Exchange Commission which can be accessed through the provided link.
Additionally, EVP Mark T. Thies sold 46,006 shares of Avista stock on Wednesday, May 31st at an average price of $41.45 per share. Following the completion of this sale, Thies now owns 95,467 shares in the company valued at approximately $3,957,107.15.
These recent insider transactions reflect some activity within Avista’s stock ownership by key individuals associated with the company.
AVISTA Corporation currently opens at $33.33 on Monday and has shown some fluctuations over time with its prices ranging from $32.27 to $45.28 per share over a period of one year.
With regards to financial metrics relevant to Avista Corp., the company has a debt-to-equity ratio of 1.08 and current and quick ratios that are favorable indicators as well.
Moreover,A vista Corp is currently displaying a market capitalization value estimated to be around $2.55 billion alongside a P/E ratio of 17.27 and PEG ratio standing at 2.27.
Considering all these factors, it is important for potential investors and stakeholders to stay updated on Avista Corp’s stock activity and financial performance.
Avista Corporation
AVA
Strong Buy
Updated on: 03/12/2023
Financial Health
Very Healthy
Debt to equity ratio: Strong Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
ROE: Neutral
KeyCorp Analysts Reduce Q3 2023 Earnings Estimates for Avista Corporation (NYSE:AVA), Insider Trading Activity Highlights
Avista Corporation (NYSE:AVA) recently had its Q3 2023 earnings per share estimates reduced by equities research analysts at KeyCorp, according to a report issued on August 24th. Analyst S. Karp of KeyCorp now expects the utilities provider to post earnings per share of $0.21 for the quarter, down from their previous estimate of $0.23. The stock currently holds a “Sector Weight” rating from KeyCorp.
The consensus estimate for Avista’s current full-year earnings is $2.30 per share. Furthermore, KeyCorp has also provided estimates for Avista’s financial year 2023 earnings at $2.30 EPS, financial year 2025 earnings at $2.53 EPS, financial year 2026 earnings at $2.63 EPS, and financial year 2027 earnings at $2.73 EPS.
In other news, Avista’s Chairman, Scott L. Morris, purchased 3,100 shares of the company’s stock in a transaction on August 24th for an average cost of $32.39 per share, totaling $100,409.00. Following this acquisition, the chairman now owns 128,169 shares of the company’s stock with an approximate value of $4,151,393.91.
Details regarding this purchase were disclosed in a legal filing with the Securities & Exchange Commission and are accessible through this link.
It is important to note that on May 31st, EVP Mark T. Thies sold 46,006 shares of Avista’s stock in a transaction valued at approximately $1,906,948.70 ($41.45 average price per share). After completing this sale, Thies now owns 95,467 shares in the company with a value estimated at around $3,957,107.15.
Interestingly over the past ninety days leading up to August 28th , corporate insiders have sold a total of 50,856 shares of Avista’s stock worth $2,101,588. This accounts for 1.00% of the total stock owned by insiders.
Avista Corporation last released its earnings results on August 2nd, reporting earnings per share of $0.23 for the quarter, surpassing the consensus estimate of $0.15 by $0.08. The company achieved a return on equity of 6.18% and net margin of 8.38%. Additionally, the business recorded revenue of $379.94 million during this period compared to a consensus estimate of $398.20 million. In the same period last year, Avista earned $0.16 earnings per share.
Several large investors have made recent changes to their positions in AVA as well. Delta Asset Management LLC TN purchased a new position in Avista in the fourth quarter with an estimated value of $27,000. Bessemer Group Inc., on the other hand, increased its stake in Avista by 146.9% during the first quarter and now holds 632 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 376 shares during that period.
EverSource Wealth Advisors LLC also raised its stake in Avista by 156.1% during the first quarter and currently holds 950 shares valued at $40,000 after purchasing an additional 579 shares last quarter.
Cutler Group LLC bought a new position in Avista during the first quarter with an estimated value of $42,000.
Finally, Benjamin Edwards Inc., saw an increase of its stake in Avista by 146.4% during the first quarter and currently holds 1,104 shares valued at $47,000 after acquiring an additional 656 shares last quarter.
As it stands now, approximately 89.15% of Avista’s stock is owned by institutional investors and hedge funds.
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