Avaya (NYSE:AVYA) Stock Price Up 12.2%

Share on StockTwits

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.

Featured Story: Intrinsic Value

Receive News & Ratings for Avaya Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avaya and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

Private Advisor Group LLC Sells 25,360 Shares of PPL Corp
Private Advisor Group LLC Sells 25,360 Shares of PPL Corp
Invesco DWA Tactical Sector Rotation ETF  Shares Sold by Private Advisor Group LLC
Invesco DWA Tactical Sector Rotation ETF Shares Sold by Private Advisor Group LLC
PVG Asset Management Corp Sells 225,220 Shares of Ares Capital Co.
PVG Asset Management Corp Sells 225,220 Shares of Ares Capital Co.
PVG Asset Management Corp Buys Shares of 9,530 IMPINJ Inc
PVG Asset Management Corp Buys Shares of 9,530 IMPINJ Inc
PVG Asset Management Corp Buys Shares of 3,154 Hess Corp.
PVG Asset Management Corp Buys Shares of 3,154 Hess Corp.
PVG Asset Management Corp Sells 4,775 Shares of QUALCOMM, Inc.
PVG Asset Management Corp Sells 4,775 Shares of QUALCOMM, Inc.


 
© 2006-2019 Zolmax.