Ribbon Communications (NASDAQ:RBBN) Downgraded by StockNews.com to “Buy”

StockNews.com lowered shares of Ribbon Communications (NASDAQ:RBBN) from a strong-buy rating to a buy rating in a research report sent to investors on Tuesday.

Several other analysts have also commented on the stock. JMP Securities reissued a “market outperform” rating and set a $6.00 target price on shares of Ribbon Communications in a research note on Thursday, February 13th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $5.50 price target on shares of Ribbon Communications in a report on Monday, December 30th. Finally, Northland Securities raised their price objective on Ribbon Communications from $5.50 to $6.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $6.00.

Ribbon Communications Stock Down 2.7 %

Shares of RBBN stock opened at $4.73 on Tuesday. Ribbon Communications has a 1 year low of $2.47 and a 1 year high of $5.38. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.16 and a current ratio of 1.42. The business’s fifty day moving average is $4.26 and its 200-day moving average is $3.76. The stock has a market cap of $829.57 million, a PE ratio of -14.78 and a beta of 1.11.

Ribbon Communications (NASDAQ:RBBN) last released its earnings results on Wednesday, February 12th. The communications equipment provider reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. Ribbon Communications had a positive return on equity of 7.36% and a negative net margin of 6.50%. Equities analysts expect that Ribbon Communications will post 0.18 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Ribbon Communications by 33.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 476,868 shares of the communications equipment provider’s stock worth $1,984,000 after purchasing an additional 119,266 shares during the period. ProShare Advisors LLC raised its stake in Ribbon Communications by 49.1% during the 4th quarter. ProShare Advisors LLC now owns 25,782 shares of the communications equipment provider’s stock valued at $107,000 after purchasing an additional 8,485 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Ribbon Communications by 4.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 52,584 shares of the communications equipment provider’s stock valued at $219,000 after purchasing an additional 2,288 shares in the last quarter. Lazard Asset Management LLC boosted its position in shares of Ribbon Communications by 402.1% in the fourth quarter. Lazard Asset Management LLC now owns 52,588 shares of the communications equipment provider’s stock worth $218,000 after buying an additional 42,115 shares during the period. Finally, Jacobs Levy Equity Management Inc. grew its holdings in shares of Ribbon Communications by 4.3% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 426,932 shares of the communications equipment provider’s stock valued at $1,776,000 after buying an additional 17,556 shares in the last quarter. 70.92% of the stock is owned by hedge funds and other institutional investors.

Ribbon Communications Company Profile

Ribbon Communications Inc provides communications technology in the United States, Europe, the Middle East, Africa, the Asia Pacific, and internationally. It operates through two segments, Cloud and Edge, and IP Optical Networks. The Cloud and Edge segment provides software and hardware products, solutions, and services for voice over internet protocol communications, voice over long-term evolution, and voice over 5G communications, and unified communications and collaboration.