Avaya (AVYA) Stock Price Down 12.5%

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Avaya Holdings Corp (NYSE:AVYA) shares were down 12.5% during mid-day trading on Monday . The company traded as low as $15.25 and last traded at $15.52. Approximately 3,917,223 shares changed hands during trading, an increase of 301% from the average daily volume of 977,229 shares. The stock had previously closed at $17.73.

A number of research analysts recently issued reports on AVYA shares. Barclays reiterated a “hold” rating and set a $20.00 target price on shares of Avaya in a research report on Wednesday, December 5th. Zacks Investment Research lowered shares of Avaya from a “hold” rating to a “sell” rating in a research note on Monday, December 10th. Goldman Sachs Group initiated coverage on shares of Avaya in a research note on Monday, December 17th. They set a “neutral” rating and a $20.00 price target for the company. Finally, Morgan Stanley initiated coverage on shares of Avaya in a research note on Monday, January 7th. They set an “equal weight” rating and a $18.50 price target for the company. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Avaya presently has an average rating of “Hold” and a consensus price target of $22.58.

The company has a current ratio of 1.18, a quick ratio of 1.11 and a debt-to-equity ratio of 1.51.

Avaya (NYSE:AVYA) last announced its quarterly earnings results on Tuesday, December 4th. The company reported $0.94 EPS for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.08. The business had revenue of $770.00 million during the quarter, compared to analyst estimates of $768.00 million. Avaya had a net margin of 114.49% and a return on equity of 185.96%. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. On average, equities research analysts expect that Avaya Holdings Corp will post 3.55 earnings per share for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Raymond James Trust N.A. grew its stake in shares of Avaya by 7.9% in the 4th quarter. Raymond James Trust N.A. now owns 11,355 shares of the company’s stock worth $166,000 after acquiring an additional 832 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Avaya by 24.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,585 shares of the company’s stock worth $110,000 after acquiring an additional 1,506 shares in the last quarter. Strs Ohio grew its stake in shares of Avaya by 3.0% in the 4th quarter. Strs Ohio now owns 58,200 shares of the company’s stock worth $847,000 after acquiring an additional 1,700 shares in the last quarter. Quantamental Technologies LLC bought a new stake in shares of Avaya in the 4th quarter worth $26,000. Finally, State Board of Administration of Florida Retirement System grew its stake in shares of Avaya by 16.0% in the 4th quarter. State Board of Administration of Florida Retirement System now owns 26,478 shares of the company’s stock worth $370,000 after acquiring an additional 3,658 shares in the last quarter. Hedge funds and other institutional investors own 99.68% of the company’s stock.

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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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