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

Ribbon Communications (NASDAQ:RBBN) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a report issued on Monday.

RBBN has been the subject of a number of other reports. Northland Securities upped 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. Rosenblatt Securities reiterated a “buy” rating and set a $5.50 target price on shares of Ribbon Communications in a research report on Monday, December 30th. Finally, JMP Securities restated a “market outperform” rating and issued a $6.00 price target on shares of Ribbon Communications in a research report on Thursday, February 13th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $6.00.

Ribbon Communications Stock Performance

NASDAQ:RBBN traded down $0.14 during trading hours on Monday, reaching $3.92. The company had a trading volume of 558,491 shares, compared to its average volume of 405,078. The firm has a market cap of $688.84 million, a price-to-earnings ratio of -12.25 and a beta of 1.23. The company has a current ratio of 1.42, a quick ratio of 1.16 and a debt-to-equity ratio of 0.84. The firm’s 50 day moving average price is $4.28 and its 200-day moving average price is $3.92. Ribbon Communications has a 52 week low of $2.47 and a 52 week high of $5.38.

Ribbon Communications (NASDAQ:RBBN) last issued its quarterly earnings data on Wednesday, February 12th. The communications equipment provider reported $0.14 EPS for the quarter, topping the consensus estimate of $0.13 by $0.01. Ribbon Communications had a positive return on equity of 7.36% and a negative net margin of 6.50%. On average, analysts forecast that Ribbon Communications will post 0.18 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Intech Investment Management LLC purchased a new stake in Ribbon Communications in the 3rd quarter worth $34,000. Walleye Capital LLC purchased a new stake in shares of Ribbon Communications during the fourth quarter worth about $43,000. Polymer Capital Management US LLC bought a new stake in Ribbon Communications during the 4th quarter valued at approximately $55,000. Penn Capital Management Company LLC purchased a new position in Ribbon Communications in the 4th quarter worth approximately $56,000. Finally, Renaissance Technologies LLC bought a new position in Ribbon Communications in the 4th quarter worth approximately $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.