Avaya Holdings Corp (NYSE:AVYA)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $9.00, but opened at $10.28. Avaya shares last traded at $12.31, with a volume of 1,150,491 shares.

A number of research firms recently weighed in on AVYA. BWS Financial lowered their price objective on shares of Avaya from $32.00 to $22.00 and set a “hold” rating for the company in a research report on Friday, May 10th. Morgan Stanley reaffirmed an “equal weight” rating and set a $14.00 price objective (down previously from $18.50) on shares of Avaya in a research report on Wednesday. Citigroup set a $12.00 price objective on shares of Avaya and gave the stock a “hold” rating in a research report on Monday, July 8th. Northland Securities reaffirmed a “buy” rating and set a $21.00 price objective on shares of Avaya in a research report on Wednesday. Finally, Zacks Investment Research raised shares of Avaya from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 10th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $18.88.

The firm has a market cap of $1.23 billion, a P/E ratio of 3.90 and a beta of 1.70. The company has a quick ratio of 1.31, a current ratio of 1.37 and a debt-to-equity ratio of 1.45. The business has a fifty day moving average of $11.24.

Avaya (NYSE:AVYA) last released its earnings results on Tuesday, August 13th. The company reported $0.24 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.61 by ($0.37). The business had revenue of $720.00 million for the quarter, compared to analyst estimates of $715.96 million. Avaya had a return on equity of 15.77% and a net margin of 6.12%. Avaya’s quarterly revenue was down 4.6% compared to the same quarter last year. During the same quarter last year, the company earned ($0.80) earnings per share. Research analysts predict that Avaya Holdings Corp will post 3.17 EPS for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in AVYA. Public Employees Retirement System of Ohio lifted its holdings in Avaya by 57.8% during the 4th quarter. Public Employees Retirement System of Ohio now owns 3,363 shares of the company’s stock worth $49,000 after buying an additional 1,232 shares in the last quarter. Xact Kapitalforvaltning AB acquired a new stake in Avaya during the 2nd quarter worth approximately $138,000. Millennium Management LLC acquired a new stake in Avaya during the 4th quarter worth approximately $152,000. Dfpg Investments Inc. acquired a new stake in Avaya during the 2nd quarter worth approximately $187,000. Finally, ARP Americas LP acquired a new stake in Avaya during the 1st quarter worth approximately $192,000. Institutional investors own 99.56% of the company’s stock.

Avaya Company Profile (NYSE:AVYA)

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.

Read More: What are the risks of holding treasury bonds?

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.