Instinet Reaffirms Buy Rating for Juniper Networks, Inc. (NYSE:JNPR)
Juniper Networks, Inc. (NYSE:JNPR)‘s stock had its “buy” rating reiterated by equities research analysts at Instinet in a report issued on Tuesday, July 4th. They presently have a $33.00 target price on the network equipment provider’s stock. Instinet’s price objective would suggest a potential upside of 16.44% from the stock’s previous close.
A number of other analysts also recently issued reports on the company. TheStreet downgraded Juniper Networks from a “b” rating to a “c+” rating in a research report on Thursday, June 29th. KeyCorp assumed coverage on Juniper Networks in a research report on Monday, June 5th. They set a “hold” rating and a $31.00 price objective for the company. Pacific Crest assumed coverage on Juniper Networks in a report on Monday, June 5th. They set a “sector weight” rating and a $31.00 target price for the company. ValuEngine upgraded Juniper Networks from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Finally, Standpoint Research cut Juniper Networks from a “buy” rating to a “reduce” rating in a research note on Wednesday, May 3rd. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $30.89.
Shares of Juniper Networks (NYSE JNPR) traded down 0.74% during mid-day trading on Tuesday, reaching $28.13. 3,344,846 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $28.62 and its 200-day moving average price is $28.53. The stock has a market cap of $10.70 billion, a price-to-earnings ratio of 16.83 and a beta of 1.07. Juniper Networks has a 12-month low of $22.12 and a 12-month high of $30.96.
Juniper Networks (NYSE:JNPR) last issued its earnings results on Tuesday, July 25th. The network equipment provider reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.03. The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.29 billion. Juniper Networks had a return on equity of 14.13% and a net margin of 12.66%. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period last year, the company earned $0.50 EPS. Equities research analysts forecast that Juniper Networks will post $2.24 earnings per share for the current year.
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In other news, CEO Rami Rahim sold 10,700 shares of Juniper Networks stock in a transaction on Friday, May 12th. The stock was sold at an average price of $30.64, for a total transaction of $327,848.00. Following the transaction, the chief executive officer now directly owns 469,607 shares in the company, valued at approximately $14,388,758.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Pradeep Sindhu sold 76,900 shares of Juniper Networks stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $30.55, for a total value of $2,349,295.00. Following the transaction, the director now owns 40,773 shares in the company, valued at $1,245,615.15. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 106,544 shares of company stock worth $3,232,192. 3.40% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the company. Dodge & Cox acquired a new stake in shares of Juniper Networks during the fourth quarter valued at approximately $179,904,000. Fox Run Management L.L.C. acquired a new stake in shares of Juniper Networks during the second quarter valued at approximately $719,000. NN Investment Partners Holdings N.V. boosted its stake in shares of Juniper Networks by 47.3% in the second quarter. NN Investment Partners Holdings N.V. now owns 474,851 shares of the network equipment provider’s stock valued at $13,239,000 after buying an additional 152,412 shares during the period. State of Alaska Department of Revenue acquired a new stake in shares of Juniper Networks during the first quarter valued at approximately $423,000. Finally, Norges Bank purchased a new stake in shares of Juniper Networks during the fourth quarter valued at about $133,013,000. 90.08% of the stock is owned by institutional investors and hedge funds.
About Juniper Networks
Juniper Networks, Inc designs, develops and sells products and services for high-performance networks to enable customers to build networks for their businesses. The Company sells its products in over 100 countries in three geographic regions: Americas; Europe, the Middle East and Africa, and Asia Pacific.
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