Avation’s (AVAP) Buy Rating Reaffirmed at Canaccord Genuity Group

Canaccord Genuity Group reaffirmed their buy rating on shares of Avation (LON:AVAP) in a report published on Tuesday morning, Marketbeat reports. They currently have a GBX 285 ($3.56) price objective on the stock.

Separately, Canaccord Genuity Group cut their price target on shares of Avation from GBX 280 ($3.49) to GBX 255 ($3.18) and set a “buy” rating on the stock in a report on Thursday, September 26th.

Avation Price Performance

AVAP stock opened at GBX 154.50 ($1.93) on Tuesday. The company has a market capitalization of £109.51 million, a PE ratio of 735.71, a P/E/G ratio of -0.15 and a beta of 1.17. The company has a quick ratio of 1.33, a current ratio of 1.39 and a debt-to-equity ratio of 263.30. The stock’s 50 day moving average is GBX 161.52 and its two-hundred day moving average is GBX 145.40. Avation has a 52-week low of GBX 102.80 ($1.28) and a 52-week high of GBX 192 ($2.40).

Avation Increases Dividend

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

Insider Buying and Selling at Avation

In other Avation news, insider Stephen Fisher bought 115 shares of the stock in a transaction on Friday, December 6th. The stock was purchased at an average price of £156 ($194.61) per share, for a total transaction of £17,940 ($22,380.24). 19.30% of the stock is currently owned by 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.