Ribbon Communications (NASDAQ:RBBN) Upgraded at StockNews.com

StockNews.com upgraded shares of Ribbon Communications (NASDAQ:RBBN) from a buy rating to a strong-buy rating in a research note released on Friday.

A number of other analysts also recently issued reports on RBBN. Rosenblatt Securities restated a “buy” rating and set a $5.50 price objective 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 research note on Thursday, December 19th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $6.00 target price on shares of Ribbon Communications in a research note on Thursday. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $6.00.

Ribbon Communications Stock Performance

NASDAQ RBBN opened at $5.13 on Friday. Ribbon Communications has a 52-week low of $2.46 and a 52-week high of $5.26. The company has a 50-day simple moving average of $4.12 and a 200 day simple moving average of $3.66. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.16 and a current ratio of 1.42. The company has a market capitalization of $899.70 million, a PE ratio of -16.03 and a beta of 1.11.

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

Hedge Funds Weigh In On Ribbon Communications

Several large investors have recently modified their holdings of RBBN. Price T Rowe Associates Inc. MD grew its stake 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 acquiring an additional 4,978 shares in the last quarter. SG Americas Securities LLC grew its stake in Ribbon Communications by 14.7% during the fourth quarter. SG Americas Securities LLC now owns 39,915 shares of the communications equipment provider’s stock valued at $166,000 after acquiring an additional 5,122 shares in the last quarter. State Street Corp grew its stake in Ribbon Communications by 0.4% during the third quarter. State Street Corp now owns 1,898,714 shares of the communications equipment provider’s stock valued at $6,171,000 after acquiring an additional 7,963 shares in the last quarter. Barclays PLC grew its stake in Ribbon Communications by 6.1% during the fourth quarter. Barclays PLC now owns 180,551 shares of the communications equipment provider’s stock valued at $751,000 after acquiring an additional 10,441 shares in the last quarter. Finally, Walleye Capital LLC purchased a new position in Ribbon Communications during the fourth quarter valued at approximately $43,000. Hedge funds and other institutional investors 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.