Ribbon Communications Inc. (NASDAQ:RBBN) Stock Now Rated “Moderate Buy” by Sell-Side Analysts

Ribbon Communications Inc. (NASDAQ:RBBN) has been given a consensus recommendation of “Moderate Buy” by the six brokerages that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $3.20.

Several research analysts have weighed in on the company. Weiss Ratings reiterated a “sell (d)” rating on shares of Ribbon Communications in a research report on Wednesday, November 4th. CL King set a $3.30 target price on shares of Ribbon Communications in a research report on Wednesday, July 29th. B. Riley Financial restated a “buy” rating and issued a $3.10 price target (down from $3.30) on shares of Ribbon Communications in a research note on Wednesday, October 28th. Finally, Rosenblatt Securities decreased their price target on shares of Ribbon Communications from $2.20 to $1.80 and set a “neutral” rating on the stock in a research note on Wednesday, October 28th.

Ribbon Communications Stock Performance

Shares of Ribbon Communications stock traded up $0.02 on Friday, hitting $1.47. The stock had a trading volume of 521,869 shares, compared to its average volume of 1,261,658. The stock has a market cap of $263.38 million, a price-to-earnings ratio of 14.70 and a beta of 1.46. The company has a quick ratio of 1.06, a current ratio of 1.32 and a debt-to-equity ratio of 0.82. Ribbon Communications has a twelve month low of $1.28 and a twelve month high of $3.41. The business’s 50 day moving average is $1.64 and its two-hundred day moving average is $2.18.

Ribbon Communications (NASDAQ:RBBN) last released its quarterly earnings results on Tuesday, October 27th. The communications equipment provider reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.03. The business had revenue of $218.71 million during the quarter, compared to analysts’ expectations of $221.75 million. Ribbon Communications had a return on equity of 20.61% and a net margin of 2.32%. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period last year, the firm posted $0.04 EPS. Analysts forecast that Ribbon Communications will post -0.14 EPS for the current year.

Insiders Place Their Bets

In other Ribbon Communications news, CEO Bruce Mcclelland acquired 60,000 shares of the business’s stock in a transaction on Friday, October 30th. The stock was purchased at an average price of $1.60 per share, with a total value of $96,000.00. Following the acquisition, the chief executive officer directly owned 2,969,454 shares of the company’s stock, valued at approximately $4,751,126.40. This trade represents a 2.06% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.99% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Marshall Wace LLP grew its position in Ribbon Communications by 36.7% during the third quarter. Marshall Wace LLP now owns 1,112,757 shares of the communications equipment provider’s stock worth $1,958,000 after buying an additional 298,625 shares in the last quarter. Empowered Funds LLC increased its stake in Ribbon Communications by 12.2% during the 3rd quarter. Empowered Funds LLC now owns 105,924 shares of the communications equipment provider’s stock worth $186,000 after acquiring an additional 11,506 shares during the period. Ieq Capital LLC increased its stake in Ribbon Communications by 78.0% during the 3rd quarter. Ieq Capital LLC now owns 36,378 shares of the communications equipment provider’s stock worth $64,000 after acquiring an additional 15,942 shares during the period. Landscape Capital Management L.L.C. acquired a new position in Ribbon Communications in the 3rd quarter valued at $37,000. Finally, Wedbush Securities Inc. acquired a new position in Ribbon Communications in the 3rd quarter valued at $45,000. 70.92% of the stock is owned by institutional investors.

About Ribbon Communications

Ribbon Communications develops communications technology for service providers, enterprises and government organizations. Its portfolio includes software and hardware for secure voice and video communications, network connectivity and data transport. The company’s offerings include session border controllers and other solutions for managing and securing real-time communications, as well as IP and optical networking systems used to carry data across communications networks. Ribbon also provides cloud-based and software-based tools to help organizations modernize and manage their networks.