Ribbon Communications (NASDAQ:RBBN) Downgraded by StockNews.com to Buy

StockNews.com downgraded shares of Ribbon Communications (NASDAQ:RBBN) from a strong-buy rating to a buy rating in a research note issued to investors on Monday.

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

Ribbon Communications Price Performance

Ribbon Communications stock opened at $3.90 on Monday. The stock has a market capitalization of $685.32 million, a price-to-earnings ratio of -12.19 and a beta of 1.23. Ribbon Communications has a 52-week low of $2.47 and a 52-week high of $5.38. 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 stock’s 50 day moving average price is $4.27 and its two-hundred day moving average price is $3.93.

Ribbon Communications (NASDAQ:RBBN) last issued its earnings results on Wednesday, February 12th. The communications equipment provider reported $0.14 earnings per share (EPS) for the quarter, topping 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%. On average, equities analysts predict that Ribbon Communications will post 0.18 earnings per share for the current year.

Hedge Funds Weigh In On Ribbon Communications

Several large investors have recently added to or reduced their stakes in RBBN. Intech Investment Management LLC purchased a new stake in shares of Ribbon Communications in the third quarter worth approximately $34,000. Walleye Capital LLC bought a new stake in Ribbon Communications during the fourth quarter worth $43,000. Polymer Capital Management US LLC purchased a new stake in Ribbon Communications in the 4th quarter valued at $55,000. Penn Capital Management Company LLC bought a new position in Ribbon Communications during the 4th quarter valued at $56,000. Finally, Renaissance Technologies LLC bought a new position in Ribbon Communications during the 4th quarter valued at $59,000. 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.