Ribbon Communications (NASDAQ:RBBN) Raised to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Ribbon Communications (NASDAQ:RBBN) from a sell rating to a hold rating in a report released on Thursday morning, 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. “

A number of other brokerages have also recently commented on RBBN. BidaskClub upgraded shares of Ribbon Communications from a strong sell rating to a sell rating in a research report on Thursday, April 25th. ValuEngine cut shares of Ribbon Communications from a sell rating to a strong sell rating in a research report on Friday, May 3rd. Finally, Northland Securities reiterated a buy rating and issued a $9.00 target price on shares of Ribbon Communications in a research report on Friday, May 3rd. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $7.75.

Ribbon Communications stock opened at $4.90 on Thursday. The firm’s fifty day moving average is $4.65. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.75 and a current ratio of 0.82. The stock has a market cap of $523.01 million, a PE ratio of 10.21 and a beta of 1.46. Ribbon Communications has a fifty-two week low of $4.23 and a fifty-two week high of $7.89.

Ribbon Communications (NASDAQ:RBBN) last posted its quarterly earnings data on Thursday, May 2nd. The communications equipment provider reported ($0.05) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.06). The company had revenue of $121.73 million for the quarter, compared to analysts’ expectations of $129.43 million. Ribbon Communications had a negative net margin of 10.90% and a positive return on equity of 8.08%. The business’s quarterly revenue was down 10.0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.04) EPS. On average, equities research analysts forecast that Ribbon Communications will post 0.53 EPS for the current year.

In other news, CEO Franklin W. Iv Hobbs purchased 100,000 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were acquired at an average price of $4.84 per share, with a total value of $484,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kent Mathy purchased 20,500 shares of the business’s stock in a transaction on Wednesday, May 8th. The stock was purchased at an average cost of $4.72 per share, for a total transaction of $96,760.00. The disclosure for this purchase can be found here. 1.66% of the stock is owned by company insiders.

A number of institutional investors have recently made changes to their positions in the business. Citigroup Inc. grew its holdings in Ribbon Communications by 17.5% in the 4th quarter. Citigroup Inc. now owns 17,753 shares of the communications equipment provider’s stock worth $86,000 after acquiring an additional 2,642 shares during the last quarter. Prudential Financial Inc. grew its holdings in Ribbon Communications by 23.3% in the 4th quarter. Prudential Financial Inc. now owns 15,666 shares of the communications equipment provider’s stock worth $76,000 after acquiring an additional 2,963 shares during the last quarter. Legal & General Group Plc grew its holdings in Ribbon Communications by 37.8% in the 4th quarter. Legal & General Group Plc now owns 11,350 shares of the communications equipment provider’s stock worth $55,000 after acquiring an additional 3,112 shares during the last quarter. Virginia Retirement Systems ET AL grew its holdings in Ribbon Communications by 7.5% in the 4th quarter. Virginia Retirement Systems ET AL now owns 61,600 shares of the communications equipment provider’s stock worth $297,000 after acquiring an additional 4,300 shares during the last quarter. Finally, Quantamental Technologies LLC bought a new stake in Ribbon Communications in the 1st quarter worth $26,000. 81.75% of the stock is currently owned by institutional investors and hedge funds.

Ribbon Communications Company Profile

Ribbon Communications Inc provides networked solutions in the United States, Europe, the Middle East, Africa, Japan, other Asia Pacific, and internationally. The company offers service provider solutions, such as fixed network transformation, mobile network evolution, secure network interconnects, network functions virtualization, cloud communications, and communications security solutions that enables secure and innovative business and consumer communications services.

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