Ribbon Communications Inc (NASDAQ:RBBN) has earned a consensus rating of “Hold” from the eight brokerages that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $8.75.
A number of brokerages have recently issued reports on RBBN. Zacks Investment Research lowered shares of Ribbon Communications from a “buy” rating to a “hold” rating in a research note on Friday, February 22nd. BidaskClub lowered shares of Ribbon Communications from a “sell” rating to a “strong sell” rating in a research note on Tuesday. ValuEngine upgraded shares of Ribbon Communications from a “strong sell” rating to a “sell” rating in a research note on Saturday, March 9th. Finally, Northland Securities restated a “buy” rating and issued a $9.00 target price on shares of Ribbon Communications in a research note on Tuesday, February 26th.
Shares of NASDAQ:RBBN traded up $0.07 during midday trading on Friday, hitting $5.20. 5,019 shares of the company’s stock traded hands, compared to its average volume of 315,170. Ribbon Communications has a twelve month low of $4.62 and a twelve month high of $7.89. The company has a current ratio of 0.96, a quick ratio of 0.88 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $548.58 million, a price-to-earnings ratio of 10.89, a PEG ratio of 0.79 and a beta of 1.31.
Institutional investors have recently modified their holdings of the company. Bank of America Corp DE boosted its holdings in Ribbon Communications by 64.1% in the 2nd quarter. Bank of America Corp DE now owns 122,033 shares of the communications equipment provider’s stock valued at $868,000 after purchasing an additional 47,683 shares during the period. California Public Employees Retirement System lifted its holdings in shares of Ribbon Communications by 11.0% during the 2nd quarter. California Public Employees Retirement System now owns 111,902 shares of the communications equipment provider’s stock worth $797,000 after acquiring an additional 11,102 shares during the period. Northern Trust Corp lifted its holdings in shares of Ribbon Communications by 10.0% during the 2nd quarter. Northern Trust Corp now owns 614,730 shares of the communications equipment provider’s stock worth $4,377,000 after acquiring an additional 56,051 shares during the period. First Trust Advisors LP bought a new position in shares of Ribbon Communications during the 3rd quarter worth about $1,898,000. Finally, BlackRock Inc. lifted its holdings in shares of Ribbon Communications by 0.7% during the 3rd quarter. BlackRock Inc. now owns 3,566,289 shares of the communications equipment provider’s stock worth $24,359,000 after acquiring an additional 26,211 shares during the period. Institutional investors and hedge funds own 79.81% of the company’s stock.
Ribbon Communications Company Profile
Ribbon Communications Inc provides networked solutions in the United States, Europe, the Middle East, Africa, Japan, rest of the Asia Pacific, and internationally. The company offers service provider solutions, such as fixed network transformation, mobile network evolution, secure network interconnects, network functions virtualization, cloud communications, and communications security solutions that enables to modernize communications networks, as well as provides secure real-time communications software, hardware, and cloud-native solutions.
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