Oppenheimer set a $29.00 target price on Juniper Networks (NYSE:JNPR) in a research note issued to investors on Friday, TipRanks reports. The brokerage currently has a buy rating on the network equipment provider’s stock.
Other equities research analysts have also recently issued research reports about the company. Raymond James set a $29.00 target price on Juniper Networks and gave the stock a buy rating in a report on Friday, September 6th. Barclays assumed coverage on Juniper Networks in a report on Wednesday, August 7th. They set an equal weight rating and a $27.00 target price on the stock. Rosenblatt Securities set a $25.00 target price on Juniper Networks and gave the stock a hold rating in a report on Tuesday, October 15th. Nomura dropped their target price on Juniper Networks from $32.00 to $30.00 and set a buy rating on the stock in a report on Friday. Finally, JPMorgan Chase & Co. raised Juniper Networks from an underweight rating to a neutral rating and boosted their target price for the stock from $25.00 to $27.00 in a report on Tuesday, October 22nd. Five investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. The stock has an average rating of Hold and an average target price of $26.13.
NYSE:JNPR traded down $0.08 during midday trading on Friday, hitting $25.15. 3,368,726 shares of the stock were exchanged, compared to its average volume of 3,323,735. Juniper Networks has a one year low of $22.42 and a one year high of $30.80. The company has a market capitalization of $8.48 billion, a price-to-earnings ratio of 18.49, a P/E/G ratio of 3.11 and a beta of 0.98. The business has a 50-day moving average price of $24.09 and a two-hundred day moving average price of $25.64. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 0.32.
Juniper Networks (NYSE:JNPR) last announced its earnings results on Thursday, October 24th. The network equipment provider reported $0.48 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.02. Juniper Networks had a return on equity of 9.48% and a net margin of 8.35%. The firm had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the previous year, the company earned $0.54 earnings per share. The firm’s quarterly revenue was down 4.0% compared to the same quarter last year. Sell-side analysts forecast that Juniper Networks will post 1.7 EPS for the current fiscal year.
Juniper Networks declared that its board has initiated a stock buyback plan on Thursday, October 24th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the network equipment provider to reacquire up to 11.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.
In other Juniper Networks news, CFO Kenneth Bradley Miller sold 7,000 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $27.02, for a total value of $189,140.00. Following the transaction, the chief financial officer now owns 77,333 shares of the company’s stock, valued at $2,089,537.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director William Stensrud sold 10,000 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $24.00, for a total value of $240,000.00. The disclosure for this sale can be found here. Insiders sold 28,500 shares of company stock worth $737,990 in the last ninety days. 1.10% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of JNPR. Retirement Systems of Alabama increased its holdings in shares of Juniper Networks by 14.3% in the second quarter. Retirement Systems of Alabama now owns 1,470,594 shares of the network equipment provider’s stock valued at $39,162,000 after buying an additional 183,586 shares in the last quarter. New England Research & Management Inc. increased its holdings in shares of Juniper Networks by 5.0% in the second quarter. New England Research & Management Inc. now owns 28,600 shares of the network equipment provider’s stock valued at $762,000 after buying an additional 1,350 shares in the last quarter. Kwmg LLC increased its holdings in shares of Juniper Networks by 5.5% in the second quarter. Kwmg LLC now owns 90,943 shares of the network equipment provider’s stock valued at $2,422,000 after buying an additional 4,730 shares in the last quarter. CENTRAL TRUST Co bought a new position in shares of Juniper Networks in the second quarter valued at $51,000. Finally, Oregon Public Employees Retirement Fund increased its holdings in shares of Juniper Networks by 9.2% in the second quarter. Oregon Public Employees Retirement Fund now owns 186,902 shares of the network equipment provider’s stock valued at $4,977,000 after buying an additional 15,817 shares in the last quarter. 90.46% of the stock is currently owned by institutional investors.
Juniper Networks Company Profile
Juniper Networks, Inc designs, develops, and sells network products and services worldwide. The company offers various routing products, such as ACX series universal access routers to deploy new high-bandwidth services; MX series Ethernet routers that functions as a universal edge platform; PTX series packet transport routers; cloud customer premises equipment; and NorthStar controllers.
Further Reading: FAANG Stocks
Receive News & Ratings for Juniper Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Juniper Networks and related companies with MarketBeat.com's FREE daily email newsletter.