Ericsson (ERIC) Upgraded by ValuEngine to “Buy”
ValuEngine upgraded shares of Ericsson (NASDAQ:ERIC) from a hold rating to a buy rating in a research report report published on Saturday morning.
A number of other equities research analysts have also recently issued reports on ERIC. BMO Capital Markets restated a hold rating on shares of Ericsson in a research note on Friday. Berenberg Bank assumed coverage on Ericsson in a research note on Wednesday, April 11th. They issued a hold rating on the stock. Cowen upgraded Ericsson from an underperform rating to a market perform rating and boosted their price objective for the company from $3.00 to $7.00 in a research note on Friday. Zacks Investment Research upgraded Ericsson from a sell rating to a hold rating in a research note on Monday, April 9th. Finally, Canaccord Genuity restated a hold rating and issued a $6.00 price objective (down from $6.50) on shares of Ericsson in a research note on Thursday, February 1st. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $5.91.
NASDAQ ERIC opened at $7.78 on Friday. Ericsson has a one year low of $5.52 and a one year high of $7.93. The company has a quick ratio of 1.33, a current ratio of 1.59 and a debt-to-equity ratio of 0.30.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Lockheed Martin Investment Management Co. increased its position in shares of Ericsson by 5.5% during the fourth quarter. Lockheed Martin Investment Management Co. now owns 179,300 shares of the communications equipment provider’s stock valued at $1,198,000 after buying an additional 9,300 shares during the period. Keybank National Association OH bought a new stake in shares of Ericsson during the fourth quarter valued at about $100,000. Bank of Montreal Can increased its position in shares of Ericsson by 18.4% during the fourth quarter. Bank of Montreal Can now owns 102,038 shares of the communications equipment provider’s stock valued at $682,000 after buying an additional 15,847 shares during the period. Bank of New York Mellon Corp increased its position in shares of Ericsson by 22.2% during the third quarter. Bank of New York Mellon Corp now owns 118,171 shares of the communications equipment provider’s stock valued at $679,000 after buying an additional 21,496 shares during the period. Finally, James Hambro & Partners bought a new stake in shares of Ericsson during the fourth quarter valued at about $157,000. Hedge funds and other institutional investors own 8.32% of the company’s stock.
Ericsson Company Profile
Telefonaktiebolaget LM Ericsson (publ) provides information and communications technology solutions for networks, IT and cloud, and media markets worldwide. It operates through four segments: Networks, Digital Services, Managed Services, and Other. The Networks segment provides mobile radio access networks, transport solutions, and site solutions, as well as related services, such as network rollout, network tuning, and customer support.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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