Ericsson (ERIC) Given Average Rating of “Hold” by Brokerages
Ericsson (NASDAQ:ERIC) has been assigned an average recommendation of “Hold” from the twenty-four ratings firms that are covering the firm. Three research analysts have rated the stock with a sell recommendation, twenty have given a hold recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $6.69.
A number of research firms recently weighed in on ERIC. Argus reaffirmed a “hold” rating on shares of Ericsson in a research note on Thursday, October 13th. Morgan Stanley reaffirmed a “neutral” rating on shares of Ericsson in a research note on Friday, August 12th. Bank of America Corp. reaffirmed a “hold” rating on shares of Ericsson in a research note on Tuesday, July 26th. BMO Capital Markets reaffirmed a “market perform” rating and set a $7.00 price target on shares of Ericsson in a research note on Thursday, October 13th. Finally, Canaccord Genuity reaffirmed a “hold” rating and set a $5.50 price target (down from $7.00) on shares of Ericsson in a research note on Thursday, October 13th.
Ericsson (NASDAQ:ERIC) opened at 5.19 on Thursday. Ericsson has a 1-year low of $4.83 and a 1-year high of $10.20. The firm has a 50-day moving average price of $0.00 and a 200-day moving average price of $0.00.
A number of institutional investors have recently made changes to their positions in ERIC. Stephens Inc. AR purchased a new position in shares of Ericsson during the third quarter valued at $104,000. Sterling Capital Management LLC increased its stake in Ericsson by 25.6% in the second quarter. Sterling Capital Management LLC now owns 14,382 shares of the company’s stock valued at $110,000 after buying an additional 2,931 shares in the last quarter. Quantitative Systematic Strategies LLC bought a new stake in Ericsson during the third quarter valued at about $115,000. OLD National Bancorp IN increased its stake in Ericsson by 3.2% in the third quarter. OLD National Bancorp IN now owns 16,142 shares of the company’s stock valued at $116,000 after buying an additional 504 shares in the last quarter. Finally, Societe Generale bought a new stake in Ericsson during the second quarter valued at about $133,000. 7.47% of the stock is owned by institutional investors and hedge funds.
Ericsson Company Profile
Telefonaktiebolaget LM Ericsson is a Sweden-based telecommunications operator. The Company offers hardware, software and services that drive development in mobility, broadband and the cloud, creating ecosystems across various industries. Ericsson’s core businesses are Radio, Core and Transmission, and Telecom Services.
Receive News & Stock Ratings for Ericsson Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ericsson and related stocks with our FREE daily email newsletter.