Ribbon Communications (NASDAQ:RBBN) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research lowered shares of Ribbon Communications (NASDAQ:RBBNGet Rating) from a buy rating to a hold rating in a research report report published on Saturday, Zacks.com reports.

According to Zacks, “Ribbon Communications Inc. develops communication software. It provides session border controllers, diameter signals, policy and routing servers, media and signaling gateways, cloud and mobility solutions. Ribbon Communications Inc., formerly known as Sonus Networks Inc., is headquartered in Westford, Massachusetts. “

Several other research analysts have also recently weighed in on RBBN. StockNews.com assumed coverage on shares of Ribbon Communications in a research report on Thursday, March 31st. They set a hold rating on the stock. Northland Securities decreased their price objective on Ribbon Communications from $10.00 to $6.50 in a report on Thursday, February 17th. TheStreet cut Ribbon Communications from a c rating to a d rating in a research note on Friday, February 18th. Finally, B. Riley dropped their price target on Ribbon Communications from $8.00 to $7.00 in a research report on Thursday, April 28th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Buy and a consensus target price of $5.83.

Shares of RBBN opened at $2.81 on Friday. Ribbon Communications has a twelve month low of $2.58 and a twelve month high of $8.31. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.25 and a quick ratio of 1.07. The company’s fifty day simple moving average is $3.11 and its 200-day simple moving average is $4.27.

Ribbon Communications (NASDAQ:RBBNGet Rating) last released its quarterly earnings results on Wednesday, April 27th. The communications equipment provider reported ($0.11) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.11). The business had revenue of $173.20 million for the quarter, compared to analysts’ expectations of $172.50 million. Ribbon Communications had a negative net margin of 24.53% and a positive return on equity of 2.92%. On average, research analysts expect that Ribbon Communications will post 0.19 earnings per share for the current year.

In related news, Director Bruns H. Grayson purchased 100,000 shares of the firm’s stock in a transaction dated Monday, March 14th. The stock was bought at an average price of $2.81 per share, for a total transaction of $281,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Sam Bucci sold 15,000 shares of the business’s stock in a transaction dated Monday, May 2nd. The stock was sold at an average price of $3.49, for a total value of $52,350.00. Following the transaction, the executive vice president now directly owns 151,394 shares of the company’s stock, valued at approximately $528,365.06. The disclosure for this sale can be found here. Insiders have acquired a total of 118,000 shares of company stock valued at $332,060 in the last quarter. 1.77% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RBBN. Mirabella Financial Services LLP bought a new position in Ribbon Communications in the 1st quarter valued at $33,000. Royal Bank of Canada raised its stake in shares of Ribbon Communications by 26,877.8% in the 2nd quarter. Royal Bank of Canada now owns 4,856 shares of the communications equipment provider’s stock valued at $37,000 after purchasing an additional 4,838 shares during the period. Macquarie Group Ltd. acquired a new stake in shares of Ribbon Communications in the 3rd quarter valued at about $45,000. Sei Investments Co. grew its holdings in shares of Ribbon Communications by 21.9% in the 1st quarter. Sei Investments Co. now owns 23,058 shares of the communications equipment provider’s stock valued at $49,000 after acquiring an additional 4,138 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of Ribbon Communications in the 4th quarter valued at about $62,000. Institutional investors and hedge funds own 66.08% of the company’s stock.

Ribbon Communications Company Profile (Get Rating)

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; and solutions and services for enabling voice over internet protocol communications, voice over long-term evolution, and voice over 5G communications and unified communications and collaboration.

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