Zacks Investment Research upgraded shares of Avaya (NYSE:AVYA) from a strong sell rating to a hold rating in a report published on Monday, Zacks.com reports.

According to Zacks, “Avaya Holdings Corp. provides real-time communication applications. The company offer portfolio of software and services for contact center and unified communications which provide on premises, in the cloud or a hybrid. Avaya Holdings Corp. is based in Santa Clara, United States. “

AVYA has been the topic of several other reports. 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 on the stock. Guggenheim assumed coverage on shares of Avaya in a research note on Monday, March 11th. They issued a buy rating and a $22.00 price target on the stock. 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 on the stock. Finally, Barclays upgraded shares of Avaya from an equal weight rating to an overweight rating and raised their target price for the stock from $20.00 to $21.00 in a research report on Friday, January 25th. Four analysts have rated the stock with a hold rating and two have given 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 Avaya stock opened at $18.69 on Monday. The company has a market capitalization of $2.07 billion, a price-to-earnings ratio of 6.62 and a beta of 1.40. Avaya has a 52 week low of $12.89 and a 52 week high of $23.64. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.25 and a current ratio of 1.31.

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

Institutional investors and hedge funds have recently made changes to their positions in the company. Benefit Street Partners LLC grew its position 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 worth $47,806,000 after acquiring an additional 273,218 shares during the last quarter. Paloma Partners Management Co purchased a new position in shares of Avaya during the fourth quarter worth approximately $154,000. Rhumbline Advisers grew its position in shares of Avaya by 41.9% during the fourth quarter. Rhumbline Advisers now owns 154,452 shares of the company’s stock worth $2,249,000 after acquiring an additional 45,604 shares during the last quarter. MetLife Investment Advisors LLC purchased a new position in shares of Avaya during the third quarter worth approximately $1,591,000. Finally, Hsbc Holdings PLC grew its position in shares of Avaya by 27.1% during the fourth quarter. Hsbc Holdings PLC now owns 30,659 shares of the company’s stock worth $446,000 after acquiring an additional 6,528 shares during the last quarter. Institutional investors and hedge funds own 98.70% of the company’s stock.

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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