Avista Corporation (NYSE:AVA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.

According to Zacks, “Avista Corp. is a diversified energy company with utility and subsidiary operations located throughout North America. Avista Corp. also operates Avista Capital, which owns all the company’s non-regulated energy and non-energy businesses. Avista Capital companies include Avista Energy, Avista Energy Canada, Ltd., Avista Power, Avista Advantage, Avista Labs, Avista Fiber, Avista Communiations, Avista Development and Pentzer Corporation. (PRESS RELEASE) “

Several other equities research analysts have also recently weighed in on the stock. Williams Capital cut shares of Avista Corporation from a “hold” rating to a “sell” rating and increased their price target for the company from $38.00 to $42.00 in a research report on Thursday, July 20th. BMO Capital Markets reissued a “hold” rating and set a $53.00 price target on shares of Avista Corporation in a research report on Friday, July 21st. Finally, BidaskClub raised shares of Avista Corporation from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 20th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $47.75.

Shares of Avista Corporation (NYSE:AVA) traded up 0.29% during trading on Tuesday, reaching $52.35. The company had a trading volume of 389,597 shares. The company has a market cap of $3.37 billion, a price-to-earnings ratio of 24.75 and a beta of 0.45. Avista Corporation has a 12 month low of $37.78 and a 12 month high of $52.83. The firm has a 50 day moving average price of $51.67 and a 200 day moving average price of $45.94.

Avista Corporation (NYSE:AVA) last released its earnings results on Wednesday, August 2nd. The utilities provider reported $0.34 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.03). Avista Corporation had a net margin of 9.35% and a return on equity of 8.19%. The business had revenue of $314.50 million for the quarter, compared to the consensus estimate of $326.33 million. During the same period in the prior year, the business posted $0.43 EPS. Avista Corporation’s revenue for the quarter was down 1.3% on a year-over-year basis. Analysts predict that Avista Corporation will post $1.95 earnings per share for the current year.

COPYRIGHT VIOLATION NOTICE: This news story was posted by American Banking News and is owned by of American Banking News. If you are reading this news story on another domain, it was illegally copied and reposted in violation of US & international trademark and copyright law. The legal version of this news story can be accessed at https://www.americanbankingnews.com/2017/10/10/zacks-investment-research-downgrades-avista-corporation-ava-to-sell.html.

A number of hedge funds and other institutional investors have recently modified their holdings of AVA. Russell Investments Group Ltd. increased its stake in Avista Corporation by 141.3% during the 1st quarter. Russell Investments Group Ltd. now owns 37,033 shares of the utilities provider’s stock valued at $1,445,000 after purchasing an additional 21,685 shares in the last quarter. UBS Asset Management Americas Inc. increased its stake in Avista Corporation by 40.8% during the 1st quarter. UBS Asset Management Americas Inc. now owns 53,176 shares of the utilities provider’s stock valued at $2,077,000 after purchasing an additional 15,404 shares in the last quarter. Oxford Asset Management bought a new stake in Avista Corporation during the 1st quarter valued at about $233,000. Mason Street Advisors LLC increased its stake in Avista Corporation by 7.2% during the 1st quarter. Mason Street Advisors LLC now owns 15,038 shares of the utilities provider’s stock valued at $587,000 after purchasing an additional 1,013 shares in the last quarter. Finally, Stifel Financial Corp increased its stake in Avista Corporation by 31.0% during the 1st quarter. Stifel Financial Corp now owns 12,904 shares of the utilities provider’s stock valued at $502,000 after purchasing an additional 3,057 shares in the last quarter. 69.66% of the stock is owned by institutional investors.

About Avista Corporation

Avista Corporation is an electric and natural gas utility company. The Company operates through two segments: Avista Utilities, and Alaska Electric Light and Power Company (AEL&P). The Company’s regional services include government and higher education, medical services, retail trade and finance. The Company’s businesses also include sheet metal fabrication, venture fund investments, real estate investments, a company that explores markets that could be served with liquefied natural gas (LNG), as well as certain other investments of Avista Capital, which is a subsidiary of the Company.

Get a free copy of the Zacks research report on Avista Corporation (AVA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Avista Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avista Corporation and related companies with MarketBeat.com's FREE daily email newsletter.