Ribbon Communications (NASDAQ:RBBN) Given “Market Outperform” Rating at JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of Ribbon Communications (NASDAQ:RBBN) in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has a $6.00 target price on the communications equipment provider’s stock.

RBBN has been the subject of several other reports. Rosenblatt Securities reiterated a “buy” rating and set a $5.50 target price on shares of Ribbon Communications in a report on Monday, December 30th. Northland Securities boosted their target price on Ribbon Communications from $5.50 to $6.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $6.00.

Ribbon Communications Trading Up 2.6 %

NASDAQ RBBN opened at $5.13 on Thursday. The firm has a market capitalization of $899.70 million, a PE ratio of -16.03 and a beta of 1.11. The stock’s 50 day moving average is $4.12 and its 200 day moving average is $3.66. Ribbon Communications has a twelve month low of $2.46 and a twelve month high of $5.26. The company has a quick ratio of 1.16, a current ratio of 1.42 and a debt-to-equity ratio of 0.84.

Ribbon Communications (NASDAQ:RBBN) last announced its earnings results on Wednesday, February 12th. The communications equipment provider reported $0.14 EPS for the quarter, beating 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%. Research analysts forecast that Ribbon Communications will post 0.13 earnings per share for the current fiscal year.

Institutional Trading of Ribbon Communications

Several institutional investors have recently added to or reduced their stakes in RBBN. First Eagle Investment Management LLC lifted its holdings in shares of Ribbon Communications by 1,049.5% during the fourth quarter. First Eagle Investment Management LLC now owns 819,369 shares of the communications equipment provider’s stock valued at $3,409,000 after purchasing an additional 748,090 shares in the last quarter. Royce & Associates LP lifted its stake in Ribbon Communications by 18.0% during the 3rd quarter. Royce & Associates LP now owns 2,536,278 shares of the communications equipment provider’s stock valued at $8,243,000 after acquiring an additional 386,518 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Ribbon Communications by 5.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,314,669 shares of the communications equipment provider’s stock valued at $26,269,000 after acquiring an additional 302,039 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Ribbon Communications by 4.2% in the fourth quarter. Vanguard Group Inc. now owns 7,402,073 shares of the communications equipment provider’s stock worth $30,793,000 after acquiring an additional 295,524 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in Ribbon Communications by 62.2% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 675,265 shares of the communications equipment provider’s stock valued at $2,809,000 after purchasing an additional 258,909 shares during the period. 70.92% of the stock is currently owned by hedge funds and other 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.