Avista Corp (AVA) Receives a Rating Update from a Top Analyst

By Ryan Adsit

In a report released yesterday, Shahriar Pourreza from Guggenheim reiterated a Hold rating on Avista Corp (AVAResearch Report), with a price target of $40. The company’s shares closed yesterday at $44.68, close to its 52-week low of $43.07.

According to TipRanks.com, Pourreza is a top 100 analyst with an average return of 14.5% and a 82.0% success rate. Pourreza covers the Utilities sector, focusing on stocks such as Newjersey Resources Corp, American Electric Power, and Edison International.

Avista Corp has an analyst consensus of Hold, with a price target consensus of $40.

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Based on Avista Corp’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $10.12 million. In comparison, last year the company had a net profit of $4.45 million.

Based on the recent corporate insider activity of 80 insiders, corporate insider sentiment is negative on the stock.

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Avista Corp. engages in the generation, transmission, and distribution of electricity and natural gas, as well as other energy-related businesses. It operates through the Avista Utilities, Alaska Electric Light and Power Company, and Other segments. The Avista Utilities segment generates, transmits, and distributes electricity and natural gas.