Ribbon Communications (NASDAQ:RBBN) Raised to “Strong-Buy” at StockNews.com

Ribbon Communications (NASDAQ:RBBN) was upgraded by investment analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued on Thursday.

Other analysts have also issued reports about the company. Northland Securities increased their target price on Ribbon Communications from $5.50 to $6.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. JMP Securities restated a “market outperform” rating and issued a $6.00 target price on shares of Ribbon Communications in a research report on Thursday, February 13th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $5.50 target price on shares of Ribbon Communications in a research report on Monday, December 30th. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Ribbon Communications presently has a consensus rating of “Buy” and a consensus target price of $6.00.

Ribbon Communications Stock Performance

RBBN traded down $0.08 during trading on Thursday, hitting $3.86. The stock had a trading volume of 452,137 shares, compared to its average volume of 391,727. The company has a 50 day moving average price of $4.27 and a 200-day moving average price of $3.84. The firm has a market cap of $678.29 million, a price-to-earnings ratio of -12.06 and a beta of 1.23. Ribbon Communications has a one year low of $2.47 and a one year high of $5.38. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.42 and a quick ratio of 1.16.

Ribbon Communications (NASDAQ:RBBN) last released its quarterly earnings results on Wednesday, February 12th. The communications equipment provider reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. As a group, research analysts predict that Ribbon Communications will post 0.18 EPS for the current year.

Hedge Funds Weigh In On Ribbon Communications

Institutional investors have recently added to or reduced their stakes in the stock. Walleye Capital LLC acquired a new position in Ribbon Communications during the 4th quarter worth approximately $43,000. Intech Investment Management LLC acquired a new position in Ribbon Communications during the 3rd quarter worth approximately $34,000. Polymer Capital Management US LLC acquired a new position in Ribbon Communications during the 4th quarter worth approximately $55,000. Penn Capital Management Company LLC acquired a new position in Ribbon Communications during the 4th quarter worth approximately $56,000. Finally, Renaissance Technologies LLC acquired a new position in Ribbon Communications during the 4th quarter worth approximately $59,000. 70.92% of the stock is currently owned by institutional investors and hedge funds.

About Ribbon Communications

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.