Bank of America Securities Sticks to Their Sell Rating for Avista (AVA)

Bank of America Securities analyst Ross Fowler maintained a Sell rating on Avista yesterday and set a price target of $36.00. The company’s shares closed yesterday at $38.41.

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Fowler covers the Utilities sector, focusing on stocks such as Eversource Energy, Vistra Energy, and PPL. According to TipRanks, Fowler has an average return of 5.5% and a 59.62% success rate on recommended stocks.

Avista has an analyst consensus of Hold, with a price target consensus of $39.25.

Based on Avista’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $403 million and a net profit of $29 million. In comparison, last year the company earned a revenue of $393.74 million and had a net profit of $18.49 million

Based on the recent corporate insider activity of 85 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of AVA in relation to earlier this year. Earlier this month, Manuel Wayne O , the SVP of AVA sold 1,785.00 shares for a total of $69,150.90.