Avation’s (AVAP) “Buy” Rating Reiterated at Canaccord Genuity Group

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

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

Avation Stock Performance

AVAP opened at GBX 150.50 ($1.85) on Tuesday. The firm’s 50-day moving average price is GBX 160.53 and its 200-day moving average price is GBX 145.64. The company has a market cap of £106.67 million, a P/E ratio of 716.67, a price-to-earnings-growth 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. Avation has a 52-week low of GBX 102.80 ($1.26) and a 52-week high of GBX 192 ($2.36).

Avation Increases Dividend

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

Insider Activity at Avation

In related news, insider Stephen Fisher acquired 115 shares of the firm’s stock in a transaction dated Friday, December 6th. The stock was acquired at an average price of £156 ($191.95) per share, with a total value of £17,940 ($22,074.57). 19.30% of the stock is 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.