Ciber Inc. (CBR) Lowered to “Strong Sell” at Zacks Investment Research
Ciber Inc. (NYSE:CBR) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued on Tuesday.
According to Zacks, “CIBER is a recognized leader in providing innovative IT solutions and partnering with customers to leverage technology in today’s e.Business-driven marketplace. The company delivers e.Business solutions to help organizations gain knowledge from the market, create value for their customers, reduce time and cost across the supply chain, and drive global competitive advantage. The company combines its broad array of in-depth business and technical expertise to create solutions that solve an enterprise’s complex requirements. “
Separately, B. Riley reiterated a “neutral” rating and issued a $1.00 price objective on shares of Ciber in a research note on Tuesday, August 9th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $2.33.
Shares of Ciber (NYSE:CBR) traded down 3.48% during mid-day trading on Tuesday, reaching $1.11. 157,923 shares of the company’s stock traded hands. Ciber has a 12-month low of $0.93 and a 12-month high of $3.90. The company’s 50 day moving average is $1.23 and its 200 day moving average is $1.52. The company’s market cap is $90.15 million.
Ciber (NYSE:CBR) last released its quarterly earnings data on Thursday, August 4th. The company reported ($0.27) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.04) by $0.23. Ciber had a negative return on equity of 11.61% and a negative net margin of 20.66%. On average, analysts predict that Ciber will post ($0.49) EPS for the current fiscal year.
A number of hedge funds have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. raised its stake in Ciber by 0.3% in the second quarter. Principal Financial Group Inc. now owns 510,967 shares of the company’s stock valued at $766,000 after buying an additional 1,717 shares in the last quarter. Geode Capital Management LLC raised its stake in Ciber by 1.1% in the first quarter. Geode Capital Management LLC now owns 410,300 shares of the company’s stock valued at $865,000 after buying an additional 4,595 shares in the last quarter. Prudential Financial Inc. raised its stake in Ciber by 3.8% in the first quarter. Prudential Financial Inc. now owns 170,767 shares of the company’s stock valued at $360,000 after buying an additional 6,300 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Ciber by 3.1% in the second quarter. Ameriprise Financial Inc. now owns 346,413 shares of the company’s stock valued at $519,000 after buying an additional 10,555 shares in the last quarter. Finally, Guggenheim Capital LLC raised its stake in Ciber by 4.4% in the second quarter. Guggenheim Capital LLC now owns 703,608 shares of the company’s stock valued at $1,055,000 after buying an additional 29,569 shares in the last quarter. Institutional investors own 61.95% of the company’s stock.
Ciber Company Profile
Ciber, Inc (Ciber) is a global information technology (IT) services company. The Company operates in two segments: North America and International. Its Ciber International segment primarily consists of countries in Western Europe and the Nordic region. Its North America segment is organized into service offerings, which include Independent Software Vendor Relationships (ISV)/Channel Partner Platforms, Managed Services, Business Consulting, Application Development and Management (ADM)/Staffing, and Software-as-a-Service (SaaS).
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