Ribbon Communications (NASDAQ:RBBN) Upgraded by StockNews.com to “Strong-Buy” Rating

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

A number of other equities analysts have also recently issued reports on RBBN. Rosenblatt Securities reaffirmed a “buy” rating and issued a $5.50 price objective on shares of Ribbon Communications in a research note on Monday, December 30th. 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. Finally, Northland Securities lifted 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. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $6.00.

Ribbon Communications Stock Performance

NASDAQ:RBBN opened at $3.86 on Thursday. The firm has a market capitalization of $678.29 million, a PE ratio of -12.06 and a beta of 1.23. The firm has a 50-day moving average price of $4.27 and a 200 day moving average price of $3.84. 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 has a 12-month low of $2.47 and a 12-month high of $5.38.

Ribbon Communications (NASDAQ:RBBN) last released its quarterly earnings results 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%. Research analysts anticipate that Ribbon Communications will post 0.18 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Intech Investment Management LLC acquired a new position in shares of Ribbon Communications during the 3rd quarter worth about $34,000. Walleye Capital LLC bought a new stake in shares of Ribbon Communications during the 4th quarter worth about $43,000. Polymer Capital Management US LLC bought a new stake in shares of Ribbon Communications during the 4th quarter worth about $55,000. Penn Capital Management Company LLC bought a new stake in Ribbon Communications in the 4th quarter valued at about $56,000. Finally, Renaissance Technologies LLC bought a new stake in Ribbon Communications in the 4th quarter valued at about $59,000. 70.92% of the stock is currently owned by institutional investors and hedge funds.

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.