Zacks Investment Research Lowers Ribbon Communications (NASDAQ:RBBN) to Hold

Ribbon Communications (NASDAQ:RBBNGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued 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. “

Other equities research analysts also recently issued reports about the company. StockNews.com started coverage on Ribbon Communications in a report on Thursday, March 31st. They set a “hold” rating on the stock. B. Riley cut their target price on shares of Ribbon Communications from $8.00 to $7.00 in a research note on Thursday, April 28th. Northland Securities cut their target price on shares of Ribbon Communications from $10.00 to $6.50 in a research note on Thursday, February 17th. Finally, TheStreet cut shares of Ribbon Communications from a “c” rating to a “d” rating in a research note on Friday, February 18th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $5.83.

NASDAQ RBBN opened at $2.81 on Friday. The company has a current ratio of 1.25, a quick ratio of 1.07 and a debt-to-equity ratio of 0.70. The stock’s 50 day moving average is $3.11 and its two-hundred day moving average is $4.28. The company has a market capitalization of $421.89 million, a price-to-earnings ratio of -2.05 and a beta of 1.02. Ribbon Communications has a 1-year low of $2.58 and a 1-year high of $8.31.

Ribbon Communications (NASDAQ:RBBNGet Rating) last released its quarterly earnings data 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 company had revenue of $173.20 million for the quarter, compared to the consensus estimate of $172.50 million. Ribbon Communications had a positive return on equity of 2.92% and a negative net margin of 24.53%. On average, analysts predict that Ribbon Communications will post 0.19 earnings per share for the current year.

In related news, EVP Sam Bucci sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, May 2nd. The shares were sold at an average price of $3.49, for a total value of $52,350.00. Following the completion of the transaction, the executive vice president now owns 151,394 shares in the company, valued at approximately $528,365.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bruns H. Grayson acquired 100,000 shares of the company’s stock in a transaction that occurred on Monday, March 14th. The stock was bought at an average price of $2.81 per share, with a total value of $281,000.00. The disclosure for this purchase can be found here. Insiders purchased a total of 118,000 shares of company stock valued at $332,060 in the last 90 days. 1.77% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Squarepoint Ops LLC grew its holdings in Ribbon Communications by 20.9% during the 4th quarter. Squarepoint Ops LLC now owns 14,380 shares of the communications equipment provider’s stock worth $87,000 after acquiring an additional 2,485 shares during the period. Palisade Capital Management LLC NJ grew its holdings in Ribbon Communications by 3.8% during the 4th quarter. Palisade Capital Management LLC NJ now owns 67,500 shares of the communications equipment provider’s stock worth $408,000 after acquiring an additional 2,500 shares during the period. Sei Investments Co. grew its holdings in Ribbon Communications by 18.1% during the 4th quarter. Sei Investments Co. now owns 18,920 shares of the communications equipment provider’s stock worth $99,000 after acquiring an additional 2,895 shares during the period. Campbell & CO Investment Adviser LLC grew its holdings in Ribbon Communications by 8.8% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 35,900 shares of the communications equipment provider’s stock worth $217,000 after acquiring an additional 2,900 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Ribbon Communications by 3.0% in the 3rd quarter. Goldman Sachs Group Inc. now owns 102,627 shares of the communications equipment provider’s stock valued at $614,000 after buying an additional 2,967 shares during the period. 66.08% of the stock is owned by hedge funds and other institutional investors.

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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