Ribbon Communications (NASDAQ:RBBN) Cut to Buy at StockNews.com

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

Several other research firms have also recently commented on RBBN. Rosenblatt Securities reaffirmed a “buy” rating and issued a $5.50 price objective on shares of Ribbon Communications in a research report on Monday, December 30th. Northland Securities boosted their price target on shares of Ribbon Communications from $5.50 to $6.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. Finally, JMP Securities reissued a “market outperform” rating and set a $6.00 price target 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 data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $6.00.

Ribbon Communications Stock Up 1.3 %

RBBN traded up $0.06 during trading on Tuesday, hitting $4.64. The company had a trading volume of 577,956 shares, compared to its average volume of 610,826. The company has a market capitalization of $813.78 million, a PE ratio of -14.50 and a beta of 1.11. Ribbon Communications has a one year low of $2.46 and a one year high of $5.38. The firm’s 50-day moving average price is $4.24 and its 200 day moving average price is $3.75. The company has a quick ratio of 1.16, a current ratio of 1.42 and a debt-to-equity ratio of 0.84.

Ribbon Communications (NASDAQ:RBBN) last posted its quarterly earnings data on Wednesday, February 12th. The communications equipment provider reported $0.14 EPS for the quarter, beating the consensus estimate 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 analysts expect that Ribbon Communications will post 0.18 earnings per share for the current year.

Institutional Investors Weigh In On Ribbon Communications

Several institutional investors and hedge funds have recently added to or reduced their stakes in RBBN. First Eagle Investment Management LLC lifted its position in Ribbon Communications by 1,049.5% during the 4th quarter. First Eagle Investment Management LLC now owns 819,369 shares of the communications equipment provider’s stock worth $3,409,000 after buying an additional 748,090 shares in the last quarter. Royce & Associates LP increased its stake in shares of 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 worth $8,243,000 after purchasing an additional 386,518 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Ribbon Communications by 5.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,314,669 shares of the communications equipment provider’s stock worth $26,269,000 after purchasing an additional 302,039 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Ribbon Communications by 4.2% during the 4th quarter. Vanguard Group Inc. now owns 7,402,073 shares of the communications equipment provider’s stock worth $30,793,000 after purchasing an additional 295,524 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Ribbon Communications by 62.2% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 675,265 shares of the communications equipment provider’s stock worth $2,809,000 after purchasing an additional 258,909 shares during the last quarter. 70.92% of the stock is owned by institutional investors.

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.