Avaya Holdings Corp (NYSE:AVYA)’s share price gapped down prior to trading on Friday . The stock had previously closed at $11.50, but opened at $11.53. Avaya shares last traded at $11.52, with a volume of 65,226 shares trading hands.
A number of equities research analysts have commented on the company. Northland Securities set a $21.00 price target on Avaya and gave the company a “buy” rating in a research note on Wednesday, August 21st. Citigroup set a $12.00 price target on Avaya and gave the company a “hold” rating in a research note on Monday, July 8th. Zacks Investment Research cut Avaya from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 15th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $14.00 price target (down from $18.50) on shares of Avaya in a research note on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $18.88.
The stock has a market capitalization of $1.48 billion, a PE ratio of 4.94 and a beta of 1.57. The company has a quick ratio of 1.35, a current ratio of 1.41 and a debt-to-equity ratio of 2.10. The firm has a 50 day moving average price of $12.52 and a 200-day moving average price of $14.05.
Large investors have recently made changes to their positions in the company. Aperio Group LLC raised its stake in shares of Avaya by 46.1% in the second quarter. Aperio Group LLC now owns 37,554 shares of the company’s stock worth $447,000 after purchasing an additional 11,855 shares during the last quarter. GSA Capital Partners LLP purchased a new position in shares of Avaya in the second quarter worth about $535,000. Alambic Investment Management L.P. purchased a new position in shares of Avaya in the first quarter worth about $436,000. Gabelli Funds LLC purchased a new position in shares of Avaya in the second quarter worth about $504,000. Finally, Bank of Montreal Can raised its stake in shares of Avaya by 14.3% in the second quarter. Bank of Montreal Can now owns 350,917 shares of the company’s stock worth $4,180,000 after purchasing an additional 43,818 shares during the last quarter.
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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