Avaya (NYSE:AVYA) Downgraded to Hold at Zacks Investment Research

Avaya (NYSE:AVYA) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued on Wednesday, Zacks.com reports.

According to Zacks, “Avaya Holdings Corp. provides real-time communication applications. The company offer portfolio of software and services for contact center and unified communications which provide on premises, in the cloud or a hybrid. Avaya Holdings Corp. is based in Santa Clara, United States. “

Several other equities analysts have also recently weighed in on the company. Morgan Stanley raised their price objective on Avaya from $14.00 to $16.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Citigroup lifted their price objective on Avaya from $12.00 to $15.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Guggenheim reissued a “buy” rating and issued a $20.00 price objective on shares of Avaya in a report on Tuesday, November 19th. Northland Securities restated a “buy” rating and issued a $17.00 target price on shares of Avaya in a research note on Thursday, November 21st. Finally, BWS Financial restated a “buy” rating on shares of Avaya in a research note on Monday, November 25th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Avaya presently has a consensus rating of “Buy” and a consensus target price of $18.13.

AVYA stock traded down $0.21 on Wednesday, hitting $12.35. 2,654,763 shares of the company’s stock traded hands, compared to its average volume of 1,932,610. Avaya has a 1-year low of $9.72 and a 1-year high of $22.35. The stock has a fifty day moving average of $12.35 and a 200-day moving average of $12.16. The company has a current ratio of 1.41, a quick ratio of 1.35 and a debt-to-equity ratio of 2.10. The stock has a market cap of $1.42 billion, a price-to-earnings ratio of 3.16 and a beta of 1.56.

Avaya (NYSE:AVYA) last released its quarterly earnings data on Wednesday, November 20th. The company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.24). The business had revenue of $726.00 million for the quarter, compared to the consensus estimate of $745.50 million. Avaya had a positive return on equity of 13.33% and a negative net margin of 23.24%. On average, equities research analysts anticipate that Avaya will post 3.39 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. grew its stake in Avaya by 25.6% in the second quarter. BlackRock Inc. now owns 9,196,120 shares of the company’s stock worth $109,526,000 after purchasing an additional 1,871,722 shares during the period. Invesco Ltd. grew its stake in Avaya by 7,556.2% in the second quarter. Invesco Ltd. now owns 4,765,455 shares of the company’s stock worth $56,757,000 after purchasing an additional 4,703,212 shares during the period. River Road Asset Management LLC grew its stake in Avaya by 15.1% in the third quarter. River Road Asset Management LLC now owns 2,632,236 shares of the company’s stock worth $26,928,000 after purchasing an additional 344,588 shares during the period. Taconic Capital Advisors LP grew its stake in Avaya by 6.4% in the second quarter. Taconic Capital Advisors LP now owns 2,250,000 shares of the company’s stock worth $26,798,000 after purchasing an additional 135,000 shares during the period. Finally, HPS Investment Partners LLC grew its stake in Avaya by 44.2% in the second quarter. HPS Investment Partners LLC now owns 1,328,172 shares of the company’s stock worth $15,819,000 after purchasing an additional 407,271 shares during the period.

About Avaya

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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