Allot Communications (NASDAQ:ALLT) Upgraded by Zacks Investment Research to “Hold”

Zacks Investment Research upgraded shares of Allot Communications (NASDAQ:ALLT) from a sell rating to a hold rating in a research note released on Monday morning, Zacks.com reports.

According to Zacks, “Allot Communications Ltd. is a leading provider of intelligent IP service optimization solutions. Designed for carriers, service providers and enterprises, Allot solutions apply deep packet inspection technology to transform broadband pipes into smart networks. This creates the visibility and control vital to manage applications, services and subscribers, guarantee quality of service, contain operating costs and maximize revenue. Allot believes in listening to customers and provides them access to its global network of visionaries, innovators and support engineers. “

Several other research firms have also weighed in on ALLT. BidaskClub lowered shares of YRC Worldwide from a buy rating to a hold rating in a report on Tuesday, April 30th. ValuEngine raised shares of Zynerba Pharmaceuticals from a sell rating to a hold rating in a report on Monday, April 1st. Four research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. Allot Communications currently has an average rating of Buy and a consensus price target of $6.87.

Allot Communications stock traded up $0.08 on Monday, hitting $7.98. The company’s stock had a trading volume of 1,282 shares, compared to its average volume of 126,917. The stock has a market capitalization of $265.75 million, a price-to-earnings ratio of -33.33 and a beta of 0.70. The company has a current ratio of 2.98, a quick ratio of 2.71 and a debt-to-equity ratio of 0.03. The firm has a fifty day simple moving average of $7.21. Allot Communications has a one year low of $5.02 and a one year high of $8.34.

Allot Communications (NASDAQ:ALLT) last announced its quarterly earnings results on Tuesday, May 14th. The communications equipment provider reported ($0.07) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.07). The firm had revenue of $25.34 million for the quarter, compared to analyst estimates of $25.27 million. Allot Communications had a negative net margin of 10.12% and a negative return on equity of 5.50%. On average, analysts predict that Allot Communications will post -0.22 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of ALLT. PEAK6 Investments LLC bought a new stake in shares of Allot Communications in the 4th quarter worth about $98,000. Jane Street Group LLC grew its holdings in shares of Allot Communications by 38.5% in the 4th quarter. Jane Street Group LLC now owns 18,136 shares of the communications equipment provider’s stock worth $110,000 after purchasing an additional 5,037 shares during the last quarter. Norges Bank bought a new stake in shares of Allot Communications in the 4th quarter worth about $910,000. Deutsche Bank AG grew its holdings in shares of Allot Communications by 53.1% in the 4th quarter. Deutsche Bank AG now owns 219,979 shares of the communications equipment provider’s stock worth $1,335,000 after purchasing an additional 76,278 shares during the last quarter. Finally, Sphera Funds Management LTD. grew its holdings in shares of Allot Communications by 62.1% in the 1st quarter. Sphera Funds Management LTD. now owns 965,931 shares of the communications equipment provider’s stock worth $7,669,000 after purchasing an additional 370,167 shares during the last quarter. 59.64% of the stock is currently owned by institutional investors and hedge funds.

Allot Communications Company Profile

Allot Communications Ltd. is a provider of leading innovative network intelligence and security solutions for service providers worldwide, enhancing value to their customers. Their solutions are deployed globally for network and application analytics, traffic control and shaping, network-based security services, and more.

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