Barclays initiated coverage on shares of Avaya (NYSE:AVYA) in a report released on Friday morning, The Fly reports. The brokerage issued an equal weight rating on the stock.
A number of other equities analysts have also recently commented on the stock. Citigroup started coverage on shares of Avaya in a research note on Friday, August 31st. They set a neutral rating and a $25.00 price target for the company. Zacks Investment Research cut shares of Avaya from a buy rating to a hold rating in a research note on Wednesday, July 11th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has an average rating of Buy and an average price target of $27.25.
Shares of NYSE:AVYA opened at $21.50 on Friday. Avaya has a 52 week low of $15.63 and a 52 week high of $23.76. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.22 and a quick ratio of 1.13.
Several hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in shares of Avaya by 186.2% during the 2nd quarter. BlackRock Inc. now owns 7,206,505 shares of the company’s stock worth $144,708,000 after purchasing an additional 4,688,763 shares during the period. Highland Capital Management LP purchased a new position in shares of Avaya during the 1st quarter worth about $78,509,000. River Road Asset Management LLC boosted its stake in shares of Avaya by 37.8% during the 2nd quarter. River Road Asset Management LLC now owns 2,337,113 shares of the company’s stock worth $46,929,000 after purchasing an additional 640,852 shares during the period. Northern Trust Corp boosted its stake in shares of Avaya by 452.0% during the 2nd quarter. Northern Trust Corp now owns 1,171,935 shares of the company’s stock worth $23,533,000 after purchasing an additional 959,620 shares during the period. Finally, Park West Asset Management LLC purchased a new position in shares of Avaya during the 1st quarter worth about $22,400,000. 98.84% of the stock is owned by hedge funds and other institutional investors.
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.
Featured Article: Dividend Stocks – Are They Right For You?
Receive News & Ratings for Avaya Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avaya and related companies with MarketBeat.com's FREE daily email newsletter.