Avista (NYSE:AVA) Stock Rating Lowered by Wall Street Zen

Avista (NYSE:AVA) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

Several other analysts have also commented on AVA. Barclays assumed coverage on shares of Avista in a research report on Monday, March 9th. They issued an “equal weight” rating and a $40.00 price target on the stock. Weiss Ratings lowered Avista from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, March 10th. KeyCorp reiterated a “sector weight” rating on shares of Avista in a report on Tuesday, January 27th. Wells Fargo & Company dropped their price target on Avista from $38.00 to $37.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 20th. Finally, Jefferies Financial Group cut their price target on Avista from $41.00 to $39.00 and set a “hold” rating for the company in a report on Wednesday, January 28th. Five equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $39.50.

Avista Price Performance

Avista stock opened at $39.90 on Friday. The firm has a market capitalization of $3.28 billion, a PE ratio of 16.77, a P/E/G ratio of 2.23 and a beta of 0.28. Avista has a 52 week low of $35.50 and a 52 week high of $43.50. The firm’s 50-day simple moving average is $40.68 and its 200 day simple moving average is $39.36. The company has a quick ratio of 0.56, a current ratio of 0.83 and a debt-to-equity ratio of 1.04.

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

Insider Activity

In related news, SVP Bryan Alden Cox sold 1,768 shares of the company’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $40.18, for a total transaction of $71,038.24. Following the transaction, the senior vice president owned 8,401 shares of the company’s stock, valued at approximately $337,552.18. This represents a 17.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.96% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of AVA. Royal Bank of Canada boosted its holdings in shares of Avista by 5.3% during the first quarter. Royal Bank of Canada now owns 65,494 shares of the utilities provider’s stock worth $2,741,000 after purchasing an additional 3,296 shares during the last quarter. AQR Capital Management LLC lifted its position in Avista by 11.1% during the first quarter. AQR Capital Management LLC now owns 69,831 shares of the utilities provider’s stock worth $2,924,000 after buying an additional 6,967 shares during the period. United Services Automobile Association purchased a new position in Avista during the first quarter worth about $201,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Avista by 26.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 283,182 shares of the utilities provider’s stock worth $11,857,000 after buying an additional 58,504 shares during the last quarter. Finally, Strs Ohio acquired a new stake in Avista in the 1st quarter worth about $134,000. 85.24% of the stock is currently owned by institutional investors and hedge funds.

About Avista

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.