Zacks: Avaya Holdings Corp (AVYA) Given $30.00 Average Target Price by Analysts

Avaya Holdings Corp (NYSE:AVYA) has been given a consensus broker rating score of 2.00 (Buy) from the three analysts that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating on the company. Avaya’s rating score has declined by 33.3% from three months ago as a result of various analysts’ ratings changes.

Brokers have set a 12 month consensus price target of $30.00 for the company and are anticipating that the company will post $0.86 earnings per share for the current quarter, according to Zacks. Zacks has also given Avaya an industry rank of 101 out of 255 based on the ratings given to related companies.

Several analysts have recently commented on the company. Citigroup assumed coverage on Avaya in a report on Friday, August 31st. They issued a “neutral” rating and a $25.00 price target for the company. Zacks Investment Research raised Avaya from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a report on Monday, August 13th. Finally, Barclays assumed coverage on Avaya in a report on Friday, October 5th. They issued an “equal weight” rating for the company.

Institutional investors and hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp grew its position in shares of Avaya by 203.4% in the second quarter. Bank of New York Mellon Corp now owns 433,609 shares of the company’s stock valued at $8,707,000 after purchasing an additional 290,677 shares during the period. BlackRock Inc. grew its position in shares of Avaya by 186.2% in the second quarter. BlackRock Inc. now owns 7,206,505 shares of the company’s stock valued at $144,708,000 after purchasing an additional 4,688,763 shares during the period. Wells Fargo & Company MN grew its position in shares of Avaya by 45.1% in the second quarter. Wells Fargo & Company MN now owns 436,373 shares of the company’s stock valued at $8,762,000 after purchasing an additional 135,721 shares during the period. Paloma Partners Management Co purchased a new stake in Avaya during the second quarter valued at about $691,000. Finally, BNP Paribas Arbitrage SA purchased a new stake in Avaya during the second quarter valued at about $123,000. 99.73% of the stock is owned by institutional investors and hedge funds.

Shares of AVYA traded up $0.01 during mid-day trading on Monday, reaching $16.09. The company’s stock had a trading volume of 683,500 shares, compared to its average volume of 1,130,542. Avaya has a 1 year low of $15.63 and a 1 year high of $23.76. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.13 and a current ratio of 1.22.

Avaya (NYSE:AVYA) last released its earnings results on Thursday, August 9th. The company reported ($0.80) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.77 by ($1.57). Avaya had a net margin of 104.03% and a return on equity of 4,097.00%. The business had revenue of $755.00 million during the quarter, compared to analysts’ expectations of $754.00 million. The business’s quarterly revenue was down 6.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Avaya will post 2.4 EPS for the current fiscal year.

Avaya Company Profile

Avaya Holdings Corp. operates as a holding company which through its subsidiary, develops business collaboration and communications solutions worldwide. The company was formerly known as Sierra Holdings Corp. The company was incorporated in 2007 and is based in Santa Clara, California.

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