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Strength Seen in Avista (AVA): Stock Soars 20.7%

Zacks Equity Research

Avista Corporation AVA was a big mover last session, as the company saw its shares rise almost 21% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. The stock picked up sharply from the near-flat trend of $41.35 to $43.84 in the past one month time frame.

The move came after the company announced that it has signed a deal with its Canadian counterpart, Hydro One Ltd. The deal is aimed at creating one of North America’s largest regulated utilities, which will serve more than two million customers across the region.

The company has not seen any estimate revisions over the past one month, while the Zacks Consensus Estimate for the current quarter also remained unchanged. The recent price action is encouraging though, so make sure to keep a close watch on this firm in the near future.

Avista currently has a Zacks Rank #2 (Buy), while its Earnings ESP is 0.00%.

Avista Corporation Price

Avista Corporation Price | Avista Corporation Quote

Investors interested in the Utility - Electric Power industry may consider Atlantica Yield plc ABY, which has a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

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