Juniper Networks (JNPR) Upgraded by CIBC to Outperform
Juniper Networks (NYSE:JNPR) was upgraded by equities research analysts at CIBC from a “market perform” rating to an “outperform” rating in a research note issued on Monday.
Other analysts have also issued reports about the stock. BidaskClub lowered shares of Juniper Networks from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. UBS Group reduced their price objective on shares of Juniper Networks from $28.00 to $26.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 25th. Robert W. Baird reissued a “hold” rating and issued a $26.00 price objective on shares of Juniper Networks in a research report on Thursday, November 30th. William Blair reissued a “hold” rating on shares of Juniper Networks in a research report on Wednesday, October 25th. Finally, Barclays lowered shares of Juniper Networks from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $28.00 to $25.00 in a research report on Wednesday, January 17th. Six research analysts have rated the stock with a sell rating, fifteen have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $29.00.
Juniper Networks (NYSE JNPR) opened at $27.85 on Monday. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.70 and a quick ratio of 2.70. Juniper Networks has a 1-year low of $23.87 and a 1-year high of $30.96. The company has a market cap of $10,441.75, a PE ratio of 16.19, a P/E/G ratio of 2.57 and a beta of 1.10.
In related news, CEO Rami Rahim sold 5,400 shares of Juniper Networks stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $26.35, for a total transaction of $142,290.00. Following the transaction, the chief executive officer now directly owns 469,607 shares of the company’s stock, valued at $12,374,144.45. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Rahul N. Merchant acquired 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The shares were acquired at an average cost of $24.48 per share, for a total transaction of $48,960.00. Following the completion of the acquisition, the director now owns 22,543 shares of the company’s stock, valued at $551,852.64. The disclosure for this purchase can be found here. Company insiders own 2.60% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in Juniper Networks by 6.4% during the second quarter. Vanguard Group Inc. now owns 38,434,820 shares of the network equipment provider’s stock valued at $1,071,564,000 after buying an additional 2,314,683 shares during the period. Diamond Hill Capital Management Inc. boosted its stake in Juniper Networks by 12.2% in the third quarter. Diamond Hill Capital Management Inc. now owns 12,764,160 shares of the network equipment provider’s stock valued at $355,227,000 after acquiring an additional 1,386,036 shares in the last quarter. First Trust Advisors LP boosted its stake in Juniper Networks by 1.3% in the third quarter. First Trust Advisors LP now owns 7,215,837 shares of the network equipment provider’s stock valued at $200,817,000 after acquiring an additional 91,809 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Juniper Networks by 25.4% in the third quarter. Bank of New York Mellon Corp now owns 6,784,158 shares of the network equipment provider’s stock valued at $188,804,000 after acquiring an additional 1,375,394 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in Juniper Networks by 197.7% in the second quarter. Renaissance Technologies LLC now owns 5,427,091 shares of the network equipment provider’s stock valued at $151,307,000 after acquiring an additional 3,604,200 shares in the last quarter. 90.62% of the stock is currently owned by institutional investors.
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About Juniper Networks
Juniper Networks, Inc designs, develops and sells products and services for high-performance networks to enable customers to build networks for their businesses. The Company sells its products in over 100 countries in three geographic regions: Americas; Europe, the Middle East and Africa, and Asia Pacific.
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