Ribbon Communications (NASDAQ:RBBN) Raised to Strong-Buy at StockNews.com

Ribbon Communications (NASDAQ:RBBN) was upgraded by equities research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Thursday.

RBBN has been the topic of several other research reports. JMP Securities reissued a “market outperform” rating and issued a $6.00 price target on shares of Ribbon Communications in a report on Thursday, February 13th. 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. Finally, Northland Securities raised their price target on Ribbon Communications from $5.50 to $6.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Ribbon Communications has a consensus rating of “Buy” and an average price target of $6.00.

Ribbon Communications Price Performance

Shares of RBBN opened at $3.95 on Thursday. The firm has a market cap of $694.11 million, a price-to-earnings ratio of -12.34 and a beta of 1.23. The stock has a 50 day moving average of $4.27 and a 200-day moving average of $3.84. The company has a current ratio of 1.42, a quick ratio of 1.16 and a debt-to-equity ratio of 0.84. Ribbon Communications has a 52 week low of $2.47 and a 52 week high of $5.38.

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

Institutional Trading of Ribbon Communications

Hedge funds have recently added to or reduced their stakes in the business. Victory Capital Management Inc. raised its stake in Ribbon Communications by 59.4% during 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 acquiring an additional 188,077 shares in the last quarter. Inspire Investing LLC bought a new stake in Ribbon Communications during the 4th quarter valued at $844,000. Barclays PLC raised its stake in Ribbon Communications by 153.4% during the 3rd quarter. Barclays PLC now owns 170,110 shares of the communications equipment provider’s stock valued at $553,000 after acquiring an additional 102,969 shares in the last quarter. Royce & Associates LP raised its stake in Ribbon Communications by 18.0% during 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 acquiring an additional 386,518 shares in the last quarter. Finally, SG Americas Securities LLC raised its stake in Ribbon Communications by 14.7% during the 4th 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. Institutional investors own 70.92% of the company’s stock.

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.