Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Receives $5.90 Consensus PT from Analysts

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) has earned a consensus recommendation of “Reduce” from the four analysts that are covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $5.90.

A number of equities analysts have recently commented on ERIC shares. StockNews.com raised Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. boosted their price target on shares of Telefonaktiebolaget LM Ericsson (publ) from $5.58 to $5.90 and gave the stock a “neutral” rating in a report on Monday, July 15th.

Telefonaktiebolaget LM Ericsson (publ) Trading Up 2.7 %

ERIC opened at $8.50 on Friday. The business has a fifty day moving average price of $7.46 and a 200 day moving average price of $6.46. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.14 and a quick ratio of 0.90. Telefonaktiebolaget LM Ericsson has a 12 month low of $4.33 and a 12 month high of $8.62. The stock has a market capitalization of $28.33 billion, a price-to-earnings ratio of -8.59 and a beta of 0.83.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC boosted its stake in Telefonaktiebolaget LM Ericsson (publ) by 131.2% in the second quarter. GAMMA Investing LLC now owns 5,464 shares of the communications equipment provider’s stock valued at $34,000 after acquiring an additional 3,101 shares in the last quarter. Hexagon Capital Partners LLC grew its stake in Telefonaktiebolaget LM Ericsson (publ) by 225.5% during the 3rd quarter. Hexagon Capital Partners LLC now owns 5,664 shares of the communications equipment provider’s stock worth $43,000 after buying an additional 3,924 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in Telefonaktiebolaget LM Ericsson (publ) during the first quarter worth approximately $36,000. BOKF NA purchased a new stake in Telefonaktiebolaget LM Ericsson (publ) in the second quarter valued at approximately $41,000. Finally, Vest Financial LLC acquired a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) in the third quarter valued at approximately $77,000. 7.99% of the stock is owned by hedge funds and other institutional investors.

Telefonaktiebolaget LM Ericsson (publ) Company Profile

Telefonaktiebolaget LM Ericsson (publ), together with its subsidiaries, provides mobile connectivity solutions for telcom operators and enterprise customers in various sectors in North America, Europe, Latin America, the Middle East, Africa, North East Asia, South East Asia, Oceania, and India. It operates in four segments: Networks; Cloud Software and Services; Enterprise; and Other.