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 report report published on Friday.

Several other research analysts also recently weighed in on the stock. Rosenblatt Securities restated a “buy” rating and set a $5.50 price objective on shares of Ribbon Communications in a report on Monday, December 30th. JMP Securities reiterated a “market outperform” rating and issued a $6.00 target price on shares of Ribbon Communications in a report on Thursday. Finally, Northland Securities increased their target price on shares of Ribbon Communications from $5.50 to $6.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Ribbon Communications has a consensus rating of “Buy” and a consensus price target of $6.00.

Ribbon Communications Stock Performance

RBBN opened at $5.13 on Friday. 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 company’s fifty day moving average price is $4.12 and its two-hundred day moving average price is $3.65. Ribbon Communications has a 1-year low of $2.46 and a 1-year high of $5.26.

Ribbon Communications (NASDAQ:RBBN) last released its quarterly earnings data on Wednesday, February 12th. The communications equipment provider reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.01. Ribbon Communications had a negative net margin of 6.62% and a positive return on equity of 5.41%. As a group, equities research analysts expect that Ribbon Communications will post 0.13 earnings per share for the current year.

Institutional Trading of Ribbon Communications

Several institutional investors and hedge funds have recently made changes to their positions in RBBN. Walleye Capital LLC purchased a new stake in Ribbon Communications during the fourth quarter worth about $43,000. Intech Investment Management LLC purchased a new stake in Ribbon Communications during the third quarter worth about $34,000. Polymer Capital Management US LLC purchased a new stake in Ribbon Communications during the fourth quarter worth about $55,000. Penn Capital Management Company LLC purchased a new stake in Ribbon Communications during the fourth quarter worth about $56,000. Finally, Renaissance Technologies LLC purchased a new stake in Ribbon Communications during the fourth quarter worth about $59,000. 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.