Ribbon Communications (NASDAQ:RBBN) Stock Rating Lowered by StockNews.com

Ribbon Communications (NASDAQ:RBBN) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Monday.

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

Ribbon Communications Stock Down 2.0 %

Shares of NASDAQ RBBN opened at $3.84 on Monday. Ribbon Communications has a 52-week low of $2.47 and a 52-week high of $5.38. The business’s 50 day moving average is $4.27 and its two-hundred day moving average is $3.93. The firm has a market cap of $674.78 million, a price-to-earnings ratio of -12.00 and a beta of 1.23. 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 earnings per share (EPS) for the quarter, beating 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%. Research analysts predict that Ribbon Communications will post 0.18 EPS for the current year.

Institutional Investors Weigh In On Ribbon Communications

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

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.