Ribbon Communications (NASDAQ:RBBN) Stock Rating Lowered by StockNews.com

Ribbon Communications (NASDAQ:RBBN) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a report issued on Tuesday.

A number of other analysts have also weighed in on RBBN. Rosenblatt Securities reissued a “buy” rating and issued a $5.50 price target on shares of Ribbon Communications in a report on Monday, December 30th. Northland Securities lifted their target price on shares of Ribbon Communications from $5.50 to $6.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $6.00 target price on shares of Ribbon Communications in a report on Thursday, February 13th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $6.00.

Ribbon Communications Price Performance

Shares of Ribbon Communications stock traded up $0.06 during midday trading on Tuesday, reaching $4.64. The company had a trading volume of 577,956 shares, compared to its average volume of 610,826. The company has a current ratio of 1.42, a quick ratio of 1.16 and a debt-to-equity ratio of 0.84. The company has a market capitalization of $813.78 million, a price-to-earnings ratio of -14.50 and a beta of 1.11. The stock has a fifty day simple moving average of $4.24 and a 200 day simple moving average of $3.75. Ribbon Communications has a 1-year low of $2.46 and a 1-year high of $5.38.

Ribbon Communications (NASDAQ:RBBN) last issued its quarterly earnings results on Wednesday, February 12th. The communications equipment provider reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. Ribbon Communications had a negative net margin of 6.50% and a positive return on equity of 7.36%. As a group, equities research analysts forecast that Ribbon Communications will post 0.18 earnings per share for the current year.

Institutional Trading of Ribbon Communications

A number of institutional investors have recently bought and sold shares of RBBN. Assenagon Asset Management S.A. grew its holdings in Ribbon Communications by 19.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 129,984 shares of the communications equipment provider’s stock worth $422,000 after acquiring an additional 20,826 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Ribbon Communications by 59.4% in the 3rd quarter. Victory Capital Management Inc. now owns 504,503 shares of the communications equipment provider’s stock valued at $1,640,000 after buying an additional 188,077 shares during the period. Royce & Associates LP grew its holdings in shares of Ribbon Communications by 18.0% in the 3rd quarter. Royce & Associates LP now owns 2,536,278 shares of the communications equipment provider’s stock valued at $8,243,000 after buying an additional 386,518 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Ribbon Communications by 12.6% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 416,356 shares of the communications equipment provider’s stock valued at $1,353,000 after buying an additional 46,476 shares during the period. Finally, Intech Investment Management LLC acquired a new position in shares of Ribbon Communications in the 3rd quarter valued at $34,000. 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.