Avaya (AVYA) Rating Lowered to Hold at Zacks Investment Research

Zacks Investment Research cut shares of Avaya (NYSE:AVYA) from a strong-buy rating to a hold rating in a research report report published on Wednesday.

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. “

Other research analysts also recently issued research reports about the stock. Barclays assumed coverage on shares of Avaya in a research report on Friday, October 5th. They issued an equal weight rating for the company. Citigroup assumed coverage on shares of Avaya in a research report on Friday, August 31st. They issued a neutral rating and a $25.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has an average rating of Hold and an average price target of $27.25.

NYSE AVYA opened at $18.72 on Wednesday. Avaya has a 1 year low of $15.63 and a 1 year high of $23.76. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.22 and a quick ratio of 1.13.

Avaya (NYSE:AVYA) last posted its earnings results on Thursday, August 9th. The company reported ($0.80) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($1.57). The business had revenue of $755.00 million for the quarter, compared to analyst estimates of $754.00 million. Avaya had a net margin of 104.03% and a return on equity of 4,097.00%. The business’s revenue was down 6.0% compared to the same quarter last year. On average, analysts expect that Avaya will post 2.4 EPS for the current year.

Several institutional investors have recently modified their holdings of AVYA. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Avaya in the second quarter worth about $104,000. Citigroup Inc. acquired a new position in shares of Avaya in the first quarter worth about $119,000. BNP Paribas Arbitrage SA acquired a new position in shares of Avaya in the second quarter worth about $123,000. Catalyst Capital Advisors LLC acquired a new position in shares of Avaya in the second quarter worth about $157,000. Finally, Great West Life Assurance Co. Can acquired a new position in shares of Avaya in the second quarter worth about $176,000. Institutional investors and hedge funds own 98.84% of the company’s stock.

Avaya Company Profile

Avaya Holdings Corp. operates as a holding company which through its subsidiary, develops business collaboration and communications solutions worldwide. The company was formerly known as Sierra Holdings Corp. The company was incorporated in 2007 and is based in Santa Clara, California.

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