Avaya (AVYA) Stock Price Down 12.5%

Avaya Holdings Corp (NYSE:AVYA) shares dropped 12.5% on Monday . The company traded as low as $15.25 and last traded at $15.52. Approximately 3,917,223 shares changed hands during mid-day 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 analysts have commented on the stock. Zacks Investment Research upgraded shares of Avaya from a “sell” rating to a “buy” rating and set a $19.00 price target for the company in a research note on Tuesday, February 5th. Morgan Stanley assumed coverage on shares of Avaya in a research note on Monday, January 7th. They issued an “equal weight” rating and a $18.50 price target for the company. Barclays reiterated a “hold” rating and issued a $20.00 price target on shares of Avaya in a research note on Wednesday, December 5th. Finally, Goldman Sachs Group assumed coverage on shares of Avaya in a research note on Monday, December 17th. They issued a “neutral” rating and a $20.00 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. The company currently has an average rating of “Hold” and an average price target of $22.58.

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

Avaya (NYSE:AVYA) last posted its earnings results on Tuesday, December 4th. The company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.08. The company had revenue of $770.00 million during the quarter, compared to analysts’ expectations of $768.00 million. Avaya had a net margin of 114.49% and a return on equity of 185.96%. The business’s quarterly revenue was up 2.0% on a year-over-year basis. As a group, equities analysts anticipate 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. Royce & Associates LP boosted its position in Avaya by 25.4% during the 4th quarter. Royce & Associates LP now owns 904,737 shares of the company’s stock worth $13,173,000 after buying an additional 183,000 shares during the period. Prescott Group Capital Management L.L.C. boosted its position in Avaya by 44.2% during the 4th quarter. Prescott Group Capital Management L.L.C. now owns 645,710 shares of the company’s stock worth $9,402,000 after buying an additional 198,037 shares during the period. Bank of New York Mellon Corp boosted its position in Avaya by 3.9% during the 4th quarter. Bank of New York Mellon Corp now owns 483,086 shares of the company’s stock worth $7,034,000 after buying an additional 17,987 shares during the period. BlackRock Inc. boosted its position in Avaya by 2.9% during the 4th quarter. BlackRock Inc. now owns 7,469,484 shares of the company’s stock worth $108,756,000 after buying an additional 210,064 shares during the period. Finally, California Public Employees Retirement System boosted its position in Avaya by 413.7% during the 4th quarter. California Public Employees Retirement System now owns 124,046 shares of the company’s stock worth $1,806,000 after buying an additional 99,900 shares during the period. Institutional investors own 99.68% of the company’s stock.

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About Avaya (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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