Ribbon Communications (NASDAQ:RBBN) Earns Buy Rating from Rosenblatt Securities

Ribbon Communications (NASDAQ:RBBN)‘s stock had its “buy” rating reaffirmed by equities researchers at Rosenblatt Securities in a report released on Thursday,Benzinga reports. They presently have a $6.00 price target on the communications equipment provider’s stock. Rosenblatt Securities’ price objective suggests a potential upside of 50.00% from the company’s previous close.

Several other research analysts have also commented on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Ribbon Communications in a research report on Wednesday, October 8th. Wall Street Zen raised Ribbon Communications from a “hold” rating to a “buy” rating in a research report on Saturday, July 26th. Four investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $6.00.

Ribbon Communications Stock Down 1.0%

NASDAQ:RBBN opened at $4.00 on Thursday. The company has a current ratio of 1.38, a quick ratio of 1.13 and a debt-to-equity ratio of 0.88. The stock has a fifty day simple moving average of $3.89 and a 200-day simple moving average of $3.78. The company has a market cap of $708.32 million, a price-to-earnings ratio of -16.00 and a beta of 1.36. Ribbon Communications has a twelve month low of $3.01 and a twelve month high of $5.38.

Ribbon Communications (NASDAQ:RBBN) last issued its earnings results on Monday, March 27th. The communications equipment provider reported $0.01 earnings per share for the quarter. The business had revenue of $100.28 million during the quarter. Ribbon Communications had a positive return on equity of 7.08% and a negative net margin of 5.14%. Analysts anticipate that Ribbon Communications will post 0.18 EPS for the current year.

Insider Transactions at Ribbon Communications

In other news, Director Beatriz V. Infante sold 8,690 shares of the company’s stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $3.98, for a total value of $34,586.20. Following the sale, the director owned 343,224 shares in the company, valued at $1,366,031.52. This represents a 2.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Dan Redington sold 155,434 shares of the company’s stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $4.03, for a total value of $626,399.02. Following the completion of the sale, the executive vice president owned 14,176 shares in the company, valued at $57,129.28. The trade was a 91.64% decrease in their position. The disclosure for this sale can be found here. Insiders sold 198,300 shares of company stock worth $801,173 over the last three months. Corporate insiders own 1.72% of the company’s stock.

Hedge Funds Weigh In On Ribbon Communications

A number of hedge funds have recently bought and sold shares of RBBN. Connor Clark & Lunn Investment Management Ltd. boosted its position in Ribbon Communications by 76.1% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,189,250 shares of the communications equipment provider’s stock worth $4,662,000 after purchasing an additional 513,985 shares in the last quarter. Nuveen LLC purchased a new position in Ribbon Communications during the first quarter worth approximately $1,297,000. Royce & Associates LP boosted its position in Ribbon Communications by 10.3% during the first quarter. Royce & Associates LP now owns 3,092,068 shares of the communications equipment provider’s stock worth $12,121,000 after purchasing an additional 289,210 shares in the last quarter. AQR Capital Management LLC purchased a new position in Ribbon Communications during the first quarter worth approximately $805,000. Finally, Geode Capital Management LLC boosted its position in Ribbon Communications by 7.9% during the second quarter. Geode Capital Management LLC now owns 2,303,256 shares of the communications equipment provider’s stock worth $9,238,000 after purchasing an additional 169,402 shares in the last quarter. 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.