Ribbon Communications’ (RBBN) Buy Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities reiterated their buy rating on shares of Ribbon Communications (NASDAQ:RBBN) in a research report sent to investors on Thursday,Benzinga reports. The brokerage currently has a $6.00 price target on the communications equipment provider’s stock.

A number of other equities analysts have also commented on RBBN. Weiss Ratings restated a “sell (d-)” rating on shares of Ribbon Communications in a research note on Wednesday, October 8th. Wall Street Zen upgraded Ribbon Communications from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $6.00.

Ribbon Communications Price Performance

Shares of NASDAQ RBBN opened at $3.55 on Thursday. The firm has a market cap of $628.63 million, a P/E ratio of -14.79 and a beta of 1.36. The company has a current ratio of 1.38, a quick ratio of 1.13 and a debt-to-equity ratio of 0.88. Ribbon Communications has a 1-year low of $3.01 and a 1-year high of $5.38. The business’s 50 day moving average is $3.87 and its 200-day moving average is $3.78.

Ribbon Communications (NASDAQ:RBBN) last announced its earnings results on Monday, March 27th. The communications equipment provider reported $0.01 earnings per share for the quarter. The company had revenue of $100.28 million for the quarter. Ribbon Communications had a positive return on equity of 6.39% and a negative net margin of 4.96%. Equities research analysts predict that Ribbon Communications will post 0.18 earnings per share for the current year.

Insiders Place Their Bets

In other Ribbon Communications news, Director Beatriz V. Infante sold 8,690 shares of the firm’s stock in a transaction on Friday, September 5th. The stock was sold at an average price of $3.98, for a total value of $34,586.20. Following the sale, the director owned 343,224 shares of the company’s stock, valued at approximately $1,366,031.52. This trade represents a 2.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Dan Redington sold 14,176 shares of the firm’s stock in a transaction on Monday, September 8th. The shares were sold at an average price of $4.02, for a total value of $56,987.52. The disclosure for this sale can be found here. In the last ninety days, insiders sold 198,300 shares of company stock worth $801,173. Company insiders own 1.72% of the company’s stock.

Institutional Investors Weigh In On Ribbon Communications

Several hedge funds have recently modified their holdings of RBBN. State of Alaska Department of Revenue acquired a new stake in shares of Ribbon Communications during the 3rd quarter valued at $29,000. Tower Research Capital LLC TRC boosted its holdings in shares of Ribbon Communications by 453.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 10,025 shares of the communications equipment provider’s stock valued at $40,000 after acquiring an additional 8,213 shares in the last quarter. Ballentine Partners LLC acquired a new stake in shares of Ribbon Communications during the 2nd quarter valued at $44,000. Keel Point LLC acquired a new stake in shares of Ribbon Communications during the 2nd quarter valued at $45,000. Finally, Prudential Financial Inc. acquired a new stake in shares of Ribbon Communications during the 2nd quarter valued at $47,000. Institutional investors and hedge funds own 70.92% of the company’s stock.

Ribbon Communications Company Profile

Ribbon Communications Inc provides communications technology in the United States, Europe, the Middle East, Africa, the Asia Pacific, and internationally. It operates through two segments, Cloud and Edge, and IP Optical Networks. The Cloud and Edge segment provides software and hardware products, solutions, and services for voice over internet protocol communications, voice over long-term evolution, and voice over 5G communications, and unified communications and collaboration.