Ribbon Communications (NASDAQ:RBBN) Rating Increased to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Ribbon Communications (NASDAQ:RBBN) from a buy rating to a strong-buy rating in a research note published on Friday.

Other equities research analysts have also issued reports about the stock. Northland Securities boosted their target price on shares of Ribbon Communications from $5.50 to $6.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. JMP Securities reissued a “market outperform” rating and set a $6.00 target price on shares of Ribbon Communications in a report on Thursday. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $5.50 price objective on shares of Ribbon Communications in a research note on Monday, December 30th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Ribbon Communications has an average rating of “Buy” and a consensus target price of $6.00.

Ribbon Communications Stock Up 2.6 %

RBBN opened at $5.13 on Friday. Ribbon Communications has a fifty-two week low of $2.46 and a fifty-two week high of $5.26. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.42 and a quick ratio of 1.16. The company’s 50 day moving average price is $4.12 and its two-hundred day moving average price is $3.65.

Ribbon Communications (NASDAQ:RBBN) last posted its earnings results on Wednesday, February 12th. The communications equipment provider reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. Ribbon Communications had a negative net margin of 6.62% and a positive return on equity of 5.41%. As a group, sell-side analysts anticipate that Ribbon Communications will post 0.13 earnings per share for the current year.

Institutional Investors Weigh In On Ribbon Communications

Institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. boosted its stake in shares of Ribbon Communications by 59.4% in the 3rd quarter. Victory Capital Management Inc. now owns 504,503 shares of the communications equipment provider’s stock valued at $1,640,000 after purchasing an additional 188,077 shares during the last quarter. Inspire Investing LLC bought a new position in Ribbon Communications during the fourth quarter worth $844,000. Barclays PLC boosted its stake in Ribbon Communications by 153.4% during the third quarter. Barclays PLC now owns 170,110 shares of the communications equipment provider’s stock worth $553,000 after acquiring an additional 102,969 shares in the last quarter. Royce & Associates LP boosted its stake in Ribbon Communications by 18.0% during the third quarter. Royce & Associates LP now owns 2,536,278 shares of the communications equipment provider’s stock worth $8,243,000 after acquiring an additional 386,518 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in Ribbon Communications by 14.7% during the fourth quarter. SG Americas Securities LLC now owns 39,915 shares of the communications equipment provider’s stock worth $166,000 after acquiring an additional 5,122 shares in the last quarter. 70.92% of the stock is owned by institutional investors.

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.