Zacks Investment Research Downgrades Ciber Inc. (CBR) to Strong Sell
Ciber Inc. (NYSE:CBR) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Tuesday.
According to Zacks, “CIBER is a recognized leader in providing innovative IT solutions and partnering with customers to leverage technology in today’s e.Business-driven marketplace. The company delivers e.Business solutions to help organizations gain knowledge from the market, create value for their customers, reduce time and cost across the supply chain, and drive global competitive advantage. The company combines its broad array of in-depth business and technical expertise to create solutions that solve an enterprise’s complex requirements. “
Separately, B. Riley reiterated a “neutral” rating and set a $1.00 target price on shares of Ciber in a research note on Tuesday, August 9th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $2.33.
Shares of Ciber (NYSE:CBR) opened at 1.09 on Tuesday. The firm’s 50-day moving average price is $1.23 and its 200 day moving average price is $1.52. Ciber has a 1-year low of $0.93 and a 1-year high of $3.90. The stock’s market capitalization is $88.52 million.
Ciber (NYSE:CBR) last released its quarterly earnings data on Thursday, August 4th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by $0.23. Ciber had a negative net margin of 20.66% and a negative return on equity of 11.61%. Equities research analysts expect that Ciber will post ($0.49) earnings per share for the current fiscal year.
Several large investors have recently made changes to their positions in CBR. JPMorgan Chase & Co. acquired a new stake in shares of Ciber during the second quarter valued at $109,000. Alpine Partners VI LLC purchased a new stake in shares of Ciber during the second quarter worth approximately $156,000. A.R.T. Advisors LLC purchased a new stake in shares of Ciber during the second quarter worth approximately $195,000. Prudential Financial Inc. increased its stake in shares of Ciber by 3.8% in the first quarter. Prudential Financial Inc. now owns 170,767 shares of the company’s stock worth $360,000 after buying an additional 6,300 shares during the last quarter. Finally, Ancora Advisors LLC increased its stake in shares of Ciber by 332.0% in the second quarter. Ancora Advisors LLC now owns 216,000 shares of the company’s stock worth $324,000 after buying an additional 166,000 shares during the last quarter. Institutional investors and hedge funds own 61.95% of the company’s stock.
Ciber Company Profile
Ciber, Inc (Ciber) is a global information technology (IT) services company. The Company operates in two segments: North America and International. Its Ciber International segment primarily consists of countries in Western Europe and the Nordic region. Its North America segment is organized into service offerings, which include Independent Software Vendor Relationships (ISV)/Channel Partner Platforms, Managed Services, Business Consulting, Application Development and Management (ADM)/Staffing, and Software-as-a-Service (SaaS).
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