Avaya (NYSE:AVYA) Lifted to “Hold” at Zacks Investment Research

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Zacks Investment Research upgraded shares of Avaya (NYSE:AVYA) from a strong sell rating to a hold rating in a research note published on Wednesday, Zacks.com reports.

According to Zacks, “Avaya Holdings Corp. provides real-time communication applications. The company offer portfolio of software and services for contact center and unified communications which provide on premises, in the cloud or a hybrid. Avaya Holdings Corp. is based in Santa Clara, United States. “

Several other equities research analysts also recently issued reports on the company. BWS Financial lowered their price target on Avaya from $32.00 to $22.00 and set a hold rating for the company in a report on Friday, May 10th. Citigroup set a $12.00 price target on Avaya and gave the stock a hold rating in a report on Monday, July 8th. Finally, Northland Securities set a $50.00 price target on Polarityte and gave the stock a buy rating in a report on Friday, May 10th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $19.44.

NYSE AVYA opened at $11.23 on Wednesday. The firm has a 50-day moving average of $12.08. The company has a market capitalization of $1.24 billion, a P/E ratio of 3.93 and a beta of 1.69. The company has a quick ratio of 1.31, a current ratio of 1.37 and a debt-to-equity ratio of 1.45. Avaya has a 12 month low of $10.90 and a 12 month high of $23.40.

Avaya (NYSE:AVYA) last released its quarterly earnings data on Thursday, May 9th. The company reported $0.72 EPS for the quarter, meeting analysts’ consensus estimates of $0.72. The business had revenue of $714.00 million during the quarter, compared to the consensus estimate of $748.47 million. Avaya had a return on equity of 15.77% and a net margin of 6.12%. The company’s quarterly revenue was down 5.7% compared to the same quarter last year. On average, equities research analysts predict that Avaya will post 3.17 EPS for the current year.

Several institutional investors have recently made changes to their positions in the business. BlackRock Inc. increased its holdings in shares of Avaya by 2.9% in the fourth quarter. BlackRock Inc. now owns 7,469,484 shares of the company’s stock worth $108,756,000 after acquiring an additional 210,064 shares in the last quarter. Benefit Street Partners LLC grew its holdings in shares of Avaya by 48.6% during the first quarter. Benefit Street Partners LLC now owns 4,879,259 shares of the company’s stock worth $82,118,000 after buying an additional 1,595,887 shares in the last quarter. Lancaster Investment Management LLP grew its holdings in shares of Avaya by 14.8% during the first quarter. Lancaster Investment Management LLP now owns 2,476,065 shares of the company’s stock worth $41,672,000 after buying an additional 320,139 shares in the last quarter. Fort Washington Investment Advisors Inc. OH grew its holdings in shares of Avaya by 7.3% during the first quarter. Fort Washington Investment Advisors Inc. OH now owns 1,675,552 shares of the company’s stock worth $28,200,000 after buying an additional 113,800 shares in the last quarter. Finally, Wells Fargo & Company MN grew its holdings in shares of Avaya by 7.6% during the first quarter. Wells Fargo & Company MN now owns 1,655,093 shares of the company’s stock worth $27,855,000 after buying an additional 117,255 shares in the last quarter. Institutional investors own 99.96% of the company’s stock.

Avaya Company Profile

Avaya Holdings Corp., through its subsidiaries, provides digital communications products, solutions, and services for businesses worldwide. The company operates through two segments, Products & Solutions, and Services. The Products & Solutions segment offers unified communications and contact center platforms, applications, and devices.

Further Reading: Capital Gains

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