Avaya Holdings Corp (NYSE:AVYA) rose 12.2% on Tuesday . The stock traded as high as $14.08 and last traded at $13.95, approximately 12,039,408 shares changed hands during trading. An increase of 690% from the average daily volume of 1,524,304 shares. The stock had previously closed at $12.43.
AVYA has been the topic of several recent research reports. Morgan Stanley reissued an “equal weight” rating and set a $14.00 price objective (down previously from $18.50) on shares of Avaya in a report on Wednesday, August 14th. Northland Securities reissued a “buy” rating and set a $21.00 price objective on shares of Avaya in a report on Wednesday, August 14th. BWS Financial cut their price objective on Avaya from $32.00 to $22.00 and set a “hold” rating on the stock in a report on Friday, May 10th. Zacks Investment Research downgraded Avaya from a “hold” rating to a “strong sell” rating in a report on Thursday, August 15th. Finally, Citigroup set a $12.00 price objective on Avaya and gave the company a “hold” rating in a report on Monday, July 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. Avaya has an average rating of “Hold” and a consensus target price of $18.88.
The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of 4.62 and a beta of 1.70. The company has a fifty day simple moving average of $11.41 and a 200 day simple moving average of $14.38. The company has a debt-to-equity ratio of 2.10, a quick ratio of 1.35 and a current ratio of 1.41.
Avaya (NYSE:AVYA) last announced its earnings results on Tuesday, August 13th. The company reported $0.24 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by ($0.37). The company had revenue of $720.00 million for the quarter, compared to analyst estimates of $715.96 million. Avaya had a positive return on equity of 15.31% and a negative net margin of 12.73%. The firm’s quarterly revenue was down 4.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.80) earnings per share. As a group, equities analysts predict that Avaya Holdings Corp will post 3.36 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently made changes to their positions in AVYA. Invesco Ltd. lifted its holdings in Avaya by 7,556.2% during the 2nd quarter. Invesco Ltd. now owns 4,765,455 shares of the company’s stock worth $56,757,000 after buying an additional 4,703,212 shares during the period. BlackRock Inc. lifted its holdings in Avaya by 25.6% during the 2nd quarter. BlackRock Inc. now owns 9,196,120 shares of the company’s stock worth $109,526,000 after buying an additional 1,871,722 shares during the period. Benefit Street Partners LLC lifted its holdings in Avaya by 48.6% during the 1st 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 during the period. FMR LLC acquired a new position in Avaya during the 1st quarter worth about $20,120,000. Finally, Highbridge Capital Management LLC acquired a new position in Avaya during the 2nd quarter worth about $10,503,000. 99.23% of the stock is currently owned by hedge funds and other institutional investors.
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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