Avaya (AVYA) Sees Strong Trading Volume

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Shares of Avaya Holdings Corp (NYSE:AVYA) saw an uptick in trading volume on Friday . 1,790,557 shares were traded during mid-day trading, an increase of 79% from the previous session’s volume of 999,629 shares.The stock last traded at $14.54 and had previously closed at $14.42.

Several research firms have recently weighed in on AVYA. Goldman Sachs Group began coverage on shares of Avaya in a research report on Monday, December 17th. They issued a “neutral” rating and a $20.00 target price for the company. Zacks Investment Research downgraded shares of Avaya from a “buy” rating to a “hold” rating in a research report on Wednesday, February 6th. Barclays reissued a “hold” rating and issued a $20.00 target price on shares of Avaya in a research report on Wednesday, December 5th. Morgan Stanley began coverage on shares of Avaya in a research report on Monday, January 7th. They issued an “equal weight” rating and a $18.50 target price for the company. Finally, Guggenheim began coverage on shares of Avaya in a research report on Monday. They issued a “buy” rating and a $22.00 target price for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. Avaya currently has a consensus rating of “Hold” and an average target price of $20.92.

The company has a current ratio of 1.31, a quick ratio of 1.25 and a debt-to-equity ratio of 1.45. The firm has a market cap of $1.65 billion, a P/E ratio of 5.30 and a beta of 1.35.

Avaya (NYSE:AVYA) last posted its quarterly earnings results on Monday, February 11th. The company reported $0.79 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.88 by ($0.09). Avaya had a net margin of 2.08% and a return on equity of 16.22%. The business had revenue of $738.00 million during the quarter, compared to analyst estimates of $761.50 million. Research analysts predict that Avaya Holdings Corp will post 3.27 EPS for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Lancaster Investment Management LLP acquired a new stake in shares of Avaya in the 4th quarter worth approximately $31,390,000. Rubric Capital Management LP raised its stake in Avaya by 2,430.1% in the third quarter. Rubric Capital Management LP now owns 1,874,060 shares of the company’s stock valued at $41,492,000 after purchasing an additional 1,799,990 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in Avaya in the third quarter valued at about $38,340,000. Wells Fargo & Company MN raised its stake in Avaya by 289.3% in the third quarter. Wells Fargo & Company MN now owns 1,698,927 shares of the company’s stock valued at $37,614,000 after purchasing an additional 1,262,554 shares in the last quarter. Finally, HPS Investment Partners LLC acquired a new position in Avaya in the fourth quarter valued at about $13,486,000.

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About Avaya (NYSE:AVYA)

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.

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