Ribbon Communications (NASDAQ:RBBN) Earns Buy Rating from Rosenblatt Securities

Ribbon Communications (NASDAQ:RBBN - Get Free Report)'s stock had its "buy" rating restated by equities researchers at Rosenblatt Securities in a report released on Thursday,Benzinga reports. They currently have a $6.00 price target on the communications equipment provider's stock. Rosenblatt Securities' target price points to a potential upside of 50.00% from the company's previous close.

RBBN has been the topic of a number of other reports. Wall Street Zen raised Ribbon Communications from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Weiss Ratings reissued a "sell (d-)" rating on shares of Ribbon Communications in a report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Ribbon Communications has an average rating of "Moderate Buy" and a consensus price target of $6.00.

Ribbon Communications Price Performance

Shares of RBBN stock opened at $4.00 on Thursday. The stock has a market cap of $708.32 million, a price-to-earnings ratio of -16.00 and a beta of 1.36. The business's fifty day moving average is $3.89 and its 200 day moving average is $3.78. Ribbon Communications has a twelve month low of $3.01 and a twelve month high of $5.38. The company has a quick ratio of 1.13, a current ratio of 1.38 and a debt-to-equity ratio of 0.88.

Ribbon Communications (NASDAQ:RBBN - Get Free Report) last issued its quarterly 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 7.08% and a negative net margin of 5.14%. Research analysts expect that Ribbon Communications will post 0.18 EPS for the current fiscal year.

Insider Activity

In other news, Director Beatriz V. Infante sold 8,690 shares of the firm's stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $3.98, for a total value of $34,586.20. Following the transaction, the director owned 343,224 shares of the company's stock, valued at $1,366,031.52. This trade represents a 2.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Dan Redington sold 155,434 shares of the firm's stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $4.03, for a total value of $626,399.02. Following the completion of the transaction, the executive vice president directly owned 14,176 shares in the company, valued at $57,129.28. This trade represents a 91.64% decrease in their position. The disclosure for this sale can be found here. Insiders sold 198,300 shares of company stock worth $801,173 in the last ninety days. Corporate insiders own 1.72% of the company's stock.

Hedge Funds Weigh In On Ribbon Communications

Several institutional investors have recently added to or reduced their stakes in RBBN. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Ribbon Communications by 76.1% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,189,250 shares of the communications equipment provider's stock valued at $4,662,000 after buying an additional 513,985 shares in the last quarter. Nuveen LLC purchased a new position in Ribbon Communications during the 1st quarter valued at approximately $1,297,000. Royce & Associates LP grew its holdings in Ribbon Communications by 10.3% during the 1st quarter. Royce & Associates LP now owns 3,092,068 shares of the communications equipment provider's stock valued at $12,121,000 after buying an additional 289,210 shares in the last quarter. AQR Capital Management LLC purchased a new position in Ribbon Communications during the 1st quarter valued at approximately $805,000. Finally, Geode Capital Management LLC grew its holdings in Ribbon Communications by 7.9% during the 2nd quarter. Geode Capital Management LLC now owns 2,303,256 shares of the communications equipment provider's stock valued at $9,238,000 after buying an additional 169,402 shares in the last quarter. Hedge funds and other institutional investors own 70.92% of the company's stock.

About Ribbon Communications

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.

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