Canaccord Genuity Group Reaffirms “Buy” Rating for Avation (LON:AVAP)

Canaccord Genuity Group reaffirmed their buy rating on shares of Avation (LON:AVAP) in a research note released on Tuesday morning, Marketbeat Ratings reports. The firm currently has a GBX 285 ($3.51) target price on the stock.

Separately, Canaccord Genuity Group dropped their price target on Avation from GBX 280 ($3.45) to GBX 255 ($3.14) and set a “buy” rating for the company in a research report on Thursday, September 26th.

Avation Trading Down 2.3 %

AVAP stock opened at GBX 150.50 ($1.85) on Tuesday. The business’s 50-day moving average is GBX 160.53 and its 200 day moving average is GBX 145.64. Avation has a 12-month low of GBX 102.80 ($1.26) and a 12-month high of GBX 192 ($2.36). The stock has a market cap of £106.67 million, a price-to-earnings ratio of 716.67, a PEG ratio of -0.15 and a beta of 1.17. The company has a current ratio of 1.39, a quick ratio of 1.33 and a debt-to-equity ratio of 263.30.

Avation Increases Dividend

The firm also recently declared a dividend, which was paid on Monday, December 23rd. Investors of record on Thursday, November 28th were given a dividend of GBX 0.50 ($0.01) per share. The ex-dividend date was Thursday, November 28th. This is a positive change from Avation’s previous dividend of $0.02. This represents a yield of 0.29%. Avation’s payout ratio is presently 3,809.52%.

Insider Activity at Avation

In related news, insider Stephen Fisher bought 115 shares of the company’s stock in a transaction on Friday, December 6th. The stock was bought at an average cost of £156 ($191.95) per share, for a total transaction of £17,940 ($22,074.57). 19.30% of the stock is owned by corporate insiders.

About Avation

Avation PLC, together with its subsidiaries, leases commercial passenger aircraft to airlines worldwide. The company's fleet includes 13 narrow-body jets, two twin-aisle jets, and 21 ATR 72 twin-engine turboprop aircraft. As of June 30, 2023, the company owned and managed a fleet of 36 aircraft.