Barclays Reiterates Hold Rating for Avaya (AVYA)
Avaya (NYSE:AVYA)‘s stock had its “hold” rating reaffirmed by investment analysts at Barclays in a research note issued on Wednesday. They currently have a $20.00 price target on the stock. Barclays’ price objective suggests a potential upside of 20.34% from the company’s previous close.
Several other equities analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of Avaya from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 10th. Citigroup assumed 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. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Avaya presently has an average rating of “Hold” and an average target price of $25.80.
AVYA stock opened at $16.62 on Wednesday. Avaya has a 52-week low of $14.24 and a 52-week high of $23.76. The company has a current ratio of 1.22, a quick ratio of 1.13 and a debt-to-equity ratio of 1.80.
Several hedge funds have recently added to or reduced their stakes in the company. Eagle Asset Management Inc. raised its stake in shares of Avaya by 0.7% during the third quarter. Eagle Asset Management Inc. now owns 604,317 shares of the company’s stock valued at $13,379,000 after acquiring an additional 4,194 shares during the last quarter. Teachers Advisors LLC raised its stake in Avaya by 2.2% during the third quarter. Teachers Advisors LLC now owns 207,909 shares of the company’s stock worth $4,603,000 after buying an additional 4,382 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Avaya during the second quarter worth $104,000. Rhumbline Advisers raised its stake in Avaya by 5.3% during the third quarter. Rhumbline Advisers now owns 108,848 shares of the company’s stock worth $2,410,000 after buying an additional 5,468 shares during the last quarter. Finally, BNP Paribas Arbitrage SA bought a new position in Avaya during the second quarter worth $123,000.
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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