Barclays Reiterates “Hold” Rating for Avaya (AVYA)

Barclays reiterated their hold rating on shares of Avaya (NYSE:AVYA) in a research report released on Wednesday. They currently have a $20.00 price target on the stock.

A number of other research analysts also recently issued reports on AVYA. Zacks Investment Research upgraded Avaya from a hold rating to a buy rating and set a $24.00 price objective for the company in a research note on Monday, August 13th. Citigroup assumed coverage on Avaya in a research note on Friday, August 31st. They set a neutral rating and a $25.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $25.80.

Shares of NYSE:AVYA opened at $17.12 on Wednesday. The company has a quick ratio of 1.13, a current ratio of 1.22 and a debt-to-equity ratio of 1.80. Avaya has a 12-month low of $14.24 and a 12-month high of $23.76.

Avaya (NYSE:AVYA) last announced its quarterly earnings data on Tuesday, December 4th. The company reported $0.94 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.08. The company had revenue of $770.00 million during the quarter, compared to the consensus estimate of $768.00 million. Avaya had a return on equity of 193.03% and a net margin of 114.49%. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, sell-side analysts forecast that Avaya will post 3.49 EPS for the current year.

A number of hedge funds have recently bought and sold shares of AVYA. BlackRock Inc. boosted its stake in Avaya by 186.2% in the 2nd quarter. BlackRock Inc. now owns 7,206,505 shares of the company’s stock worth $144,708,000 after purchasing an additional 4,688,763 shares during the period. Rubric Capital Management LP boosted its stake in Avaya by 2,430.1% in the 3rd quarter. Rubric Capital Management LP now owns 1,874,060 shares of the company’s stock worth $41,492,000 after purchasing an additional 1,799,990 shares during the period. Point72 Asset Management L.P. bought a new position in Avaya in the 3rd quarter worth approximately $38,340,000. Wells Fargo & Company MN boosted its stake in Avaya by 289.3% in the 3rd quarter. Wells Fargo & Company MN now owns 1,698,927 shares of the company’s stock worth $37,614,000 after purchasing an additional 1,262,554 shares during the period. Finally, Northern Trust Corp boosted its stake in Avaya by 452.0% in the 2nd quarter. Northern Trust Corp now owns 1,171,935 shares of the company’s stock worth $23,533,000 after purchasing an additional 959,620 shares during the period.

About Avaya

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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