Avaya (NYSE:AVYA) Stock Rating Reaffirmed by Goldman Sachs Group

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Goldman Sachs Group reaffirmed their buy rating on shares of Avaya (NYSE:AVYA) in a research note issued to investors on Tuesday morning, TipRanks reports. Goldman Sachs Group currently has a $18.00 price target on the stock.

A number of other brokerages have also commented on AVYA. Zacks Investment Research lowered shares of Avaya from a strong-buy rating to a hold rating in a report on Wednesday, December 4th. Northland Securities restated a buy rating and set a $17.00 price objective on shares of Avaya in a report on Thursday, November 21st. Guggenheim restated a buy rating and set a $20.00 price objective on shares of Avaya in a report on Tuesday, November 19th. Finally, BWS Financial restated a buy rating on shares of Avaya in a report on Monday, November 25th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $17.43.

AVYA opened at $13.40 on Tuesday. The firm’s fifty day moving average is $12.99 and its two-hundred day moving average is $12.39. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.35 and a current ratio of 1.41. The firm has a market cap of $1.31 billion, a PE ratio of -2.01 and a beta of 1.58. Avaya has a twelve month low of $9.72 and a twelve month high of $22.35.

Avaya (NYSE:AVYA) last posted its earnings results on Wednesday, November 20th. The company reported $0.54 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.78 by ($0.24). The firm had revenue of $726.00 million during the quarter, compared to analyst estimates of $745.50 million. Avaya had a positive return on equity of 12.23% and a negative net margin of 25.63%. Equities analysts forecast that Avaya will post 3.38 EPS for the current fiscal year.

Several large investors have recently modified their holdings of the stock. Sandy Spring Bank increased its stake in Avaya by 250.0% in the 3rd quarter. Sandy Spring Bank now owns 3,500 shares of the company’s stock valued at $36,000 after buying an additional 2,500 shares during the last quarter. US Bancorp DE increased its stake in Avaya by 449.8% in the 4th quarter. US Bancorp DE now owns 5,482 shares of the company’s stock valued at $74,000 after buying an additional 4,485 shares during the last quarter. Oppenheimer Asset Management Inc. increased its stake in Avaya by 49.2% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 6,798 shares of the company’s stock valued at $92,000 after buying an additional 2,243 shares during the last quarter. Great West Life Assurance Co. Can acquired a new stake in Avaya in the 4th quarter valued at $93,000. Finally, DekaBank Deutsche Girozentrale acquired a new stake in Avaya in the 4th quarter valued at $125,000.

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.

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Analyst Recommendations for Avaya (NYSE:AVYA)

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