Ribbon Communications (NASDAQ:RBBN) Rating Lowered to "Hold" at Wall Street Zen

Key Points

• Ribbon Communications (NASDAQ:RBBN) has been downgraded from a "buy" rating to a "hold" rating by analysts at Wall Street Zen.
• Despite the downgrade, Rosenblatt Securities has maintained a "buy" rating and set a price target of $6.00 for the stock, indicating mixed analyst sentiments.
• Insider transactions recently reported show that executives sold a combined total of 198,300 shares of the company, which may indicate a lack of confidence among insiders.

Ribbon Communications (NASDAQ:RBBN - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Saturday.

Other equities analysts have also issued reports about the company. Rosenblatt Securities reaffirmed a "buy" rating and issued a $6.00 price target on shares of Ribbon Communications in a report on Thursday. Weiss Ratings reiterated a "sell (d-)" rating on shares of Ribbon Communications in a research report on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Ribbon Communications has an average rating of "Moderate Buy" and an average target price of $6.00.

Ribbon Communications Price Performance

Shares of NASDAQ RBBN opened at $3.55 on Friday. The stock has a fifty day simple moving average of $3.87 and a two-hundred day simple moving average of $3.78. Ribbon Communications has a 1-year low of $3.01 and a 1-year high of $5.38. The firm has a market cap of $628.63 million, a price-to-earnings 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 (NASDAQ:RBBN - Get Free Report) last announced its quarterly earnings data on Monday, March 27th. The communications equipment provider reported $0.01 earnings per share for the quarter. Ribbon Communications had a positive return on equity of 6.39% and a negative net margin of 4.96%.The business had revenue of $100.28 million during the quarter. Analysts anticipate that Ribbon Communications will post 0.18 earnings per share for the current year.

Insider Transactions at Ribbon Communications

In other Ribbon Communications news, EVP Dan Redington sold 14,176 shares of the firm's stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $4.02, for a total transaction of $56,987.52. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Beatriz V. Infante sold 8,690 shares of the firm's stock in a transaction dated Friday, September 5th. The shares were 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 in the company, valued at $1,366,031.52. The trade was a 2.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 198,300 shares of company stock worth $801,173 in the last 90 days. Company insiders own 1.72% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. State of Alaska Department of Revenue purchased a new position in shares of Ribbon Communications in the third quarter worth about $29,000. Tower Research Capital LLC TRC increased its holdings in shares of Ribbon Communications by 453.3% in the second quarter. Tower Research Capital LLC TRC now owns 10,025 shares of the communications equipment provider's stock worth $40,000 after buying an additional 8,213 shares during the period. Ballentine Partners LLC purchased a new position in shares of Ribbon Communications in the second quarter worth about $44,000. Keel Point LLC bought a new stake in shares of Ribbon Communications in the second quarter worth about $45,000. Finally, Prudential Financial Inc. bought a new stake in shares of Ribbon Communications in the second quarter worth about $47,000. 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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