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

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

A number of other equities analysts have also recently issued reports on the company. JMP Securities restated a “market outperform” rating and set a $6.00 target price on shares of Ribbon Communications in a report on Thursday, February 13th. Rosenblatt Securities reiterated a “buy” rating and set a $5.50 price objective on shares of Ribbon Communications in a report on Monday, December 30th. Finally, Northland Securities lifted their price objective on Ribbon Communications from $5.50 to $6.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Ribbon Communications presently has an average rating of “Buy” and an average target price of $6.00.

Ribbon Communications Trading Down 2.0 %

Ribbon Communications stock traded down $0.08 during mid-day 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 stock has a 50-day simple moving average of $4.27 and a two-hundred day simple moving average of $3.84. The stock has a market capitalization of $678.29 million, a PE ratio of -12.06 and a beta of 1.23. Ribbon Communications has a 12 month low of $2.47 and a 12 month high of $5.38. The company has a current ratio of 1.42, a quick ratio of 1.16 and a debt-to-equity ratio of 0.84.

Ribbon Communications (NASDAQ:RBBN) last posted 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, sell-side analysts forecast that Ribbon Communications will post 0.18 EPS for the current year.

Institutional Investors Weigh In On Ribbon Communications

A number of hedge funds and other institutional investors have recently bought and sold shares of RBBN. Victory Capital Management Inc. increased its position in shares of Ribbon Communications by 59.4% during the 3rd quarter. Victory Capital Management Inc. now owns 504,503 shares of the communications equipment provider’s stock worth $1,640,000 after purchasing an additional 188,077 shares during the last quarter. Inspire Investing LLC acquired a new position in shares of Ribbon Communications during the 4th quarter worth approximately $844,000. Barclays PLC increased its holdings in shares of Ribbon Communications by 153.4% during the 3rd quarter. Barclays PLC now owns 170,110 shares of the communications equipment provider’s stock worth $553,000 after acquiring an additional 102,969 shares during the last quarter. Royce & Associates LP increased its holdings in shares of Ribbon Communications by 18.0% during the 3rd quarter. Royce & Associates LP now owns 2,536,278 shares of the communications equipment provider’s stock worth $8,243,000 after acquiring an additional 386,518 shares during the last quarter. Finally, SG Americas Securities LLC increased its holdings in shares of Ribbon Communications by 14.7% during the 4th quarter. SG Americas Securities LLC now owns 39,915 shares of the communications equipment provider’s stock worth $166,000 after acquiring an additional 5,122 shares during the last quarter. Institutional investors and hedge funds own 70.92% of the company’s stock.

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.