Avaya (AVYA) Earns Buy Rating from Analysts at Guggenheim

Guggenheim initiated coverage on shares of Avaya (NYSE:AVYA) in a research note issued to investors on Monday, Marketbeat reports. The firm issued a buy rating and a $22.00 price target on the stock.

Other analysts also recently issued research reports about the stock. Goldman Sachs Group assumed coverage on shares of Avaya in a report on Monday, December 17th. They issued a neutral rating and a $20.00 price target on the stock. Zacks Investment Research raised shares of Avaya from a sell rating to a buy rating and set a $19.00 price target on the stock in a report on Tuesday, February 5th. Barclays reaffirmed a hold rating and issued a $20.00 price target on shares of Avaya in a report on Wednesday, December 5th. Finally, Morgan Stanley assumed coverage on shares of Avaya in a report on Monday, January 7th. They issued an equal weight rating and a $18.50 price target on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $20.92.

Shares of NYSE AVYA opened at $14.42 on Monday. Avaya has a 12-month low of $13.96 and a 12-month high of $23.76. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of 5.30 and a beta of 1.35. The company has a current ratio of 1.31, a quick ratio of 1.25 and a debt-to-equity ratio of 1.45.

Avaya (NYSE:AVYA) last announced its quarterly earnings results on Monday, February 11th. The company reported $0.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by ($0.09). Avaya had a net margin of 2.08% and a return on equity of 16.22%. The business had revenue of $738.00 million during the quarter, compared to analysts’ expectations of $761.50 million. On average, equities analysts predict that Avaya will post 3.27 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in AVYA. JPMorgan Chase & Co. lifted its stake in shares of Avaya by 2.4% during the third quarter. JPMorgan Chase & Co. now owns 9,816,231 shares of the company’s stock valued at $217,330,000 after buying an additional 225,882 shares during the period. Vanguard Group Inc. lifted its stake in shares of Avaya by 2.0% during the third quarter. Vanguard Group Inc. now owns 9,335,685 shares of the company’s stock valued at $206,693,000 after buying an additional 184,744 shares during the period. Vanguard Group Inc lifted its stake in shares of Avaya by 2.0% during the third quarter. Vanguard Group Inc now owns 9,335,685 shares of the company’s stock valued at $206,693,000 after buying an additional 184,744 shares during the period. BlackRock Inc. lifted its stake in shares of Avaya by 2.9% during the fourth quarter. BlackRock Inc. now owns 7,469,484 shares of the company’s stock valued at $108,756,000 after buying an additional 210,064 shares during the period. Finally, Benefit Street Partners LLC lifted its stake in shares of Avaya by 9.1% during the fourth quarter. Benefit Street Partners LLC now owns 3,283,372 shares of the company’s stock valued at $47,806,000 after buying an additional 273,218 shares during the period.

Avaya Company Profile

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.

Further Reading: What is Call Option Volume?

Analyst Recommendations for Avaya (NYSE:AVYA)

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.