Avaya (NYSE:AVYA) Shares Gap Down to $11.53

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Avaya Holdings Corp (NYSE:AVYA)’s stock price gapped down before the market opened 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 changing hands.

AVYA has been the topic of several recent research reports. Zacks Investment Research lowered Avaya from a “hold” rating to a “strong sell” rating in a report on Thursday, August 15th. Citigroup set a $12.00 price target on Avaya and gave the company a “hold” rating in a report on Monday, July 8th. Morgan Stanley restated an “equal weight” rating and set a $14.00 price target (down previously from $18.50) on shares of Avaya in a report on Wednesday, August 14th. Finally, Northland Securities set a $21.00 price target on Avaya and gave the company a “buy” rating in a report on Wednesday, August 21st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. Avaya currently has a consensus rating of “Hold” and a consensus price target of $18.88.

The company has a fifty day moving average of $12.52 and a two-hundred day moving average of $14.05. The company has a market cap of $1.48 billion, a PE ratio of 4.94 and a beta of 1.57. 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 released its quarterly earnings results on Tuesday, August 13th. The company reported $0.24 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by ($0.37). Avaya had a negative net margin of 12.73% and a positive return on equity of 15.31%. The company had revenue of $720.00 million for the quarter, compared to analysts’ expectations of $715.96 million. During the same quarter in the previous year, the company posted ($0.80) EPS. The business’s quarterly revenue was down 4.6% on a year-over-year basis. On average, equities analysts forecast that Avaya Holdings Corp will post 3.33 EPS for the current year.

Institutional investors have recently made changes to their positions in the business. Aperio Group LLC grew its position in Avaya by 46.1% in the 2nd quarter. Aperio Group LLC now owns 37,554 shares of the company’s stock valued at $447,000 after acquiring an additional 11,855 shares during the last quarter. GSA Capital Partners LLP bought a new position in Avaya in the 2nd quarter valued at $535,000. Alambic Investment Management L.P. bought a new position in Avaya in the 1st quarter valued at $436,000. Gabelli Funds LLC bought a new position in Avaya in the 2nd quarter valued at $504,000. Finally, Bank of Montreal Can grew its position in Avaya by 14.3% in the 2nd quarter. Bank of Montreal Can now owns 350,917 shares of the company’s stock valued at $4,180,000 after acquiring an additional 43,818 shares during the last quarter.

Avaya Company Profile (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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