Enviva Inc. (NYSE:EVA) Receives Average Rating of “Hold” from Analysts

Enviva Inc. (NYSE:EVAGet Rating) has been given a consensus recommendation of “Hold” by the seven analysts that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $75.60.

Several research analysts have commented on the company. Royal Bank of Canada downgraded Enviva from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $78.00 to $76.00 in a research report on Friday, August 19th. Citigroup upgraded Enviva from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $79.00 to $62.00 in a research report on Friday, October 14th. JPMorgan Chase & Co. lowered their price objective on Enviva from $66.00 to $60.00 and set a “neutral” rating on the stock in a research report on Thursday, October 20th. Raymond James upgraded Enviva from an “outperform” rating to a “strong-buy” rating and set a $80.00 price objective on the stock in a research report on Tuesday, October 18th. Finally, StockNews.com upgraded Enviva to a “sell” rating in a research report on Thursday, November 3rd.

Insider Activity at Enviva

In related news, VP Edward Royal Smith purchased 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 13th. The shares were acquired at an average price of $51.92 per share, with a total value of $155,760.00. Following the purchase, the vice president now directly owns 265,437 shares in the company, valued at $13,781,489.04. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Enviva news, VP Edward Royal Smith acquired 3,000 shares of Enviva stock in a transaction on Thursday, October 13th. The shares were bought at an average price of $51.92 per share, with a total value of $155,760.00. Following the completion of the purchase, the vice president now owns 265,437 shares in the company, valued at $13,781,489.04. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP William H. Schmidt, Jr. acquired 5,023 shares of Enviva stock in a transaction on Wednesday, October 12th. The stock was acquired at an average cost of $50.18 per share, for a total transaction of $252,054.14. Following the purchase, the executive vice president now owns 400,091 shares of the company’s stock, valued at approximately $20,076,566.38. The disclosure for this purchase can be found here. Insiders have purchased a total of 322,866 shares of company stock valued at $16,356,874 in the last 90 days. 13.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Enviva

A number of institutional investors and hedge funds have recently bought and sold shares of EVA. Lazard Asset Management LLC acquired a new position in Enviva in the first quarter worth $26,000. American International Group Inc. bought a new stake in shares of Enviva in the second quarter worth about $27,000. Spire Wealth Management bought a new stake in shares of Enviva in the second quarter worth about $31,000. Allworth Financial LP bought a new stake in shares of Enviva in the second quarter worth about $34,000. Finally, Valley National Advisers Inc. bought a new stake in shares of Enviva in the first quarter worth about $40,000. Institutional investors and hedge funds own 82.55% of the company’s stock.

Enviva Stock Performance

Shares of NYSE EVA opened at $59.70 on Friday. The company has a quick ratio of 0.69, a current ratio of 1.09 and a debt-to-equity ratio of 3.95. The business’s 50 day moving average is $60.01 and its two-hundred day moving average is $65.33. The company has a market cap of $3.98 billion, a P/E ratio of 103.22 and a beta of 1.13. Enviva has a 12 month low of $45.88 and a 12 month high of $91.06.

Enviva Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 25th. Investors of record on Monday, November 14th will be paid a $0.905 dividend. This represents a $3.62 annualized dividend and a yield of 6.06%. The ex-dividend date is Thursday, November 10th.

Enviva Company Profile

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Enviva Inc produces and sells utility-grade wood pellets. The company's products are used as a substitute for coal in power generation, and combined heat and power plants. It serves power generators in the United Kingdom, Europe, and Japan. The company was formerly known as Enviva Partners, LP. Enviva Inc was incorporated in 2013 and is headquartered in Bethesda, Maryland.

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Analyst Recommendations for Enviva (NYSE:EVA)

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