Avaya (AVYA) Price Target Lowered to $22.00 at BWS Financial

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Avaya (NYSE:AVYA) had its price objective cut by BWS Financial from $32.00 to $22.00 in a research note issued to investors on Friday morning, The Fly reports. They currently have a hold rating on the stock.

Several other research firms have also issued reports on AVYA. Barclays raised Avaya from an equal weight rating to an overweight rating and upped their price target for the company from $20.00 to $21.00 in a research report on Friday, January 25th. Zacks Investment Research lowered Avaya from a buy rating to a hold rating in a research report on Wednesday, February 6th. Northland Securities reissued a buy rating and set a $21.00 price target on shares of Avaya in a research report on Friday. Finally, Guggenheim started coverage on Avaya in a research report on Monday, March 11th. They set a buy rating and a $22.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $21.06.

NYSE AVYA opened at $14.80 on Friday. The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of 5.37 and a beta of 1.52. Avaya has a fifty-two week low of $12.89 and a fifty-two week high of $23.40. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.31 and a quick ratio of 1.25.

Avaya (NYSE:AVYA) last released its quarterly earnings results on Thursday, May 9th. The company reported $0.72 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.72. The firm had revenue of $714.00 million during the quarter, compared to analysts’ expectations of $748.47 million. Avaya had a return on equity of 16.10% and a net margin of 6.12%. The business’s quarterly revenue was down 5.7% on a year-over-year basis. As a group, sell-side analysts forecast that Avaya will post 3.27 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of the company. Quantamental Technologies LLC bought a new position in Avaya during the fourth quarter valued at about $26,000. Public Employees Retirement System of Ohio boosted its stake in Avaya by 57.8% during the fourth quarter. Public Employees Retirement System of Ohio now owns 3,363 shares of the company’s stock valued at $49,000 after buying an additional 1,232 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position 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 valued at $110,000 after purchasing an additional 1,506 shares during the period. Water Island Capital LLC acquired a new position in shares of Avaya in the 4th quarter valued at $135,000. Finally, NumerixS Investment Technologies Inc acquired a new position in shares of Avaya in the 4th quarter valued at $144,000. 99.11% of the stock is currently owned by institutional investors.

About Avaya

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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