Ribbon Communications (NASDAQ:RBBN) Downgraded to Buy Rating by StockNews.com

StockNews.com cut shares of Ribbon Communications (NASDAQ:RBBN) from a strong-buy rating to a buy rating in a research report released on Monday morning.

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

Ribbon Communications Stock Performance

Shares of RBBN opened at $3.92 on Monday. 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 stock has a 50-day moving average of $4.28 and a two-hundred day moving average of $3.92. The stock has a market cap of $688.84 million, a P/E ratio of -12.25 and a beta of 1.23. Ribbon Communications has a one year low of $2.47 and a one year high of $5.38.

Ribbon Communications (NASDAQ:RBBN) last released its earnings results on Wednesday, February 12th. The communications equipment provider reported $0.14 EPS for the quarter, topping analysts’ consensus estimates 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, research analysts predict that Ribbon Communications will post 0.18 EPS for the current year.

Hedge Funds Weigh In On Ribbon Communications

Institutional investors and hedge funds have recently modified their holdings of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Ribbon Communications by 33.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 476,868 shares of the communications equipment provider’s stock valued at $1,984,000 after purchasing an additional 119,266 shares during the period. ProShare Advisors LLC lifted its position in shares of Ribbon Communications by 49.1% during the 4th quarter. ProShare Advisors LLC now owns 25,782 shares of the communications equipment provider’s stock valued at $107,000 after buying an additional 8,485 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Ribbon Communications by 4.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 52,584 shares of the communications equipment provider’s stock valued at $219,000 after acquiring an additional 2,288 shares during the period. Lazard Asset Management LLC increased its holdings in Ribbon Communications by 402.1% in the 4th quarter. Lazard Asset Management LLC now owns 52,588 shares of the communications equipment provider’s stock worth $218,000 after acquiring an additional 42,115 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its position in Ribbon Communications by 4.3% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 426,932 shares of the communications equipment provider’s stock worth $1,776,000 after acquiring an additional 17,556 shares during the period. 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.