JMP Securities Reiterates Market Outperform Rating for Ribbon Communications (NASDAQ:RBBN)

Ribbon Communications (NASDAQ:RBBN)‘s stock had its “market outperform” rating restated by equities researchers at JMP Securities in a report issued on Thursday,Benzinga reports. They presently have a $6.00 target price on the communications equipment provider’s stock. JMP Securities’ target price indicates a potential upside of 16.96% from the company’s previous close.

RBBN has been the subject of several other reports. 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. Rosenblatt Securities reaffirmed a “buy” rating and issued a $5.50 target price on shares of Ribbon Communications in a research report on Monday, December 30th. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $6.00.

Ribbon Communications Stock Performance

RBBN opened at $5.13 on Thursday. The firm has a market cap of $899.70 million, a PE ratio of -16.03 and a beta of 1.11. The company has a quick ratio of 1.16, a current ratio of 1.42 and a debt-to-equity ratio of 0.84. The business has a fifty day simple moving average of $4.12 and a 200-day simple moving average of $3.65. Ribbon Communications has a fifty-two week low of $2.46 and a fifty-two week high of $5.26.

Ribbon Communications (NASDAQ:RBBN) last released its quarterly earnings data on Wednesday, February 12th. The communications equipment provider reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.01. Ribbon Communications had a positive return on equity of 5.41% and a negative net margin of 6.62%. As a group, equities analysts predict that Ribbon Communications will post 0.13 EPS for the current fiscal year.

Institutional Trading of Ribbon Communications

Several hedge funds and other institutional investors have recently modified their holdings of the company. Northern Trust Corp raised its holdings in shares of Ribbon Communications by 7.3% during the fourth quarter. Northern Trust Corp now owns 828,163 shares of the communications equipment provider’s stock worth $3,445,000 after acquiring an additional 56,461 shares in the last quarter. Boothbay Fund Management LLC raised its holdings in shares of Ribbon Communications by 11.6% during the fourth quarter. Boothbay Fund Management LLC now owns 131,498 shares of the communications equipment provider’s stock worth $547,000 after acquiring an additional 13,657 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Ribbon Communications during the fourth quarter worth $89,000. Penn Capital Management Company LLC purchased a new stake in shares of Ribbon Communications during the fourth quarter worth $56,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in Ribbon Communications by 8.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 62,604 shares of the communications equipment provider’s stock valued at $261,000 after buying an additional 4,978 shares in the last quarter. 70.92% of the stock is currently owned by hedge funds and other institutional investors.

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.