Avista (NYSE:AVA) Lowered to “Strong Sell” Rating by Zacks Research

Zacks Research cut shares of Avista (NYSE:AVA) from a hold rating to a strong sell rating in a report released on Tuesday morning,Zacks.com reports.

Other equities research analysts have also issued research reports about the company. Weiss Ratings lowered Avista from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, March 10th. Wells Fargo & Company decreased their price target on Avista from $38.00 to $37.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 20th. Jefferies Financial Group lowered their price objective on Avista from $41.00 to $39.00 and set a “hold” rating for the company in a research report on Wednesday, January 28th. Barclays began coverage on Avista in a research note on Monday, March 9th. They set an “equal weight” rating and a $40.00 price objective for the company. Finally, Wall Street Zen cut shares of Avista from a “hold” rating to a “sell” rating in a report on Saturday, March 28th. Five research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Avista presently has a consensus rating of “Reduce” and a consensus target price of $39.50.

Avista Price Performance

AVA stock opened at $40.69 on Tuesday. The firm 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. The firm’s fifty day moving average is $40.69 and its 200 day moving average is $39.47. Avista has a 52 week low of $35.50 and a 52 week high of $43.50. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.56 and a current ratio of 0.83.

Avista (NYSE:AVA) last posted its quarterly 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%. Research analysts predict that Avista will post 2.3 earnings per share for the current year.

Avista Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Wednesday, February 25th were paid a $0.4925 dividend. The ex-dividend date of this dividend was Wednesday, February 25th. This is a boost from Avista’s previous quarterly dividend of $0.49. This represents a $1.97 annualized dividend and a dividend yield of 4.8%. Avista’s payout ratio is 82.77%.

Insider Transactions at Avista

In other Avista news, SVP Bryan Alden Cox sold 1,768 shares of the company’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 transaction of $71,038.24. Following the completion of the transaction, the senior vice president owned 8,401 shares of the company’s stock, valued at $337,552.18. This represents a 17.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.96% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Avista

Large investors have recently made changes to their positions in the business. Royal Bank of Canada raised 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 valued at $2,741,000 after acquiring an additional 3,296 shares in the last quarter. AQR Capital Management LLC boosted its holdings in Avista by 11.1% in the first quarter. AQR Capital Management LLC now owns 69,831 shares of the utilities provider’s stock valued at $2,924,000 after acquiring an additional 6,967 shares in the last quarter. United Services Automobile Association purchased a new position in Avista during the 1st quarter valued at $201,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Avista by 26.0% during 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 valued at $11,857,000 after purchasing an additional 58,504 shares during the period. Finally, Strs Ohio bought a new position in Avista in the 1st quarter worth $134,000. 85.24% of the stock is currently owned by institutional investors.

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.