Ribbon Communications’ (RBBN) “Market Outperform” Rating Reaffirmed at JMP Securities

JMP Securities reissued their market outperform rating on shares of Ribbon Communications (NASDAQ:RBBN) in a research note issued to investors on Thursday morning,Benzinga reports. JMP Securities currently has a $6.00 price objective on the communications equipment provider’s stock.

RBBN has been the subject of a number of other research reports. Rosenblatt Securities reiterated a “buy” rating and issued a $5.50 price objective on shares of Ribbon Communications in a report on Monday, December 30th. Northland Securities lifted their price objective on Ribbon Communications from $5.50 to $6.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $6.00.

Ribbon Communications Stock Up 15.5 %

Shares of RBBN opened at $5.00 on Thursday. The stock has a 50 day moving average price of $4.07 and a 200 day moving average price of $3.63. Ribbon Communications has a one year low of $2.46 and a one year high of $5.25. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.16 and a current ratio of 1.42. The stock has a market capitalization of $876.92 million, a price-to-earnings ratio of -15.62 and a beta of 1.11.

Ribbon Communications (NASDAQ:RBBN) last released its earnings results on Wednesday, February 12th. The communications equipment provider reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. Ribbon Communications had a negative net margin of 6.62% and a positive return on equity of 5.41%. Equities research analysts forecast that Ribbon Communications will post 0.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ribbon Communications

Several institutional investors and hedge funds have recently bought and sold shares of the company. Victory Capital Management Inc. raised its position in shares of Ribbon Communications by 59.4% during the 3rd quarter. Victory Capital Management Inc. now owns 504,503 shares of the communications equipment provider’s stock valued at $1,640,000 after buying an additional 188,077 shares during the period. Inspire Investing LLC purchased a new stake in Ribbon Communications in the fourth quarter valued at $844,000. Barclays PLC lifted its stake in shares of Ribbon Communications by 153.4% in the 3rd quarter. Barclays PLC now owns 170,110 shares of the communications equipment provider’s stock valued at $553,000 after purchasing an additional 102,969 shares during the last quarter. Royce & Associates LP lifted its stake in shares of Ribbon Communications by 18.0% in the 3rd quarter. Royce & Associates LP now owns 2,536,278 shares of the communications equipment provider’s stock valued at $8,243,000 after purchasing an additional 386,518 shares during the last quarter. Finally, SG Americas Securities LLC grew its holdings in shares of Ribbon Communications by 14.7% during the 4th quarter. SG Americas Securities LLC now owns 39,915 shares of the communications equipment provider’s stock worth $166,000 after purchasing an additional 5,122 shares during the period. 70.92% of the stock is currently owned by institutional investors and hedge funds.

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.