ValuEngine Lowers Ribbon Communications (RBBN) to Strong Sell
ValuEngine lowered shares of Ribbon Communications (NASDAQ:RBBN) from a sell rating to a strong sell rating in a research note issued to investors on Friday.
A number of other research firms also recently commented on RBBN. Zacks Investment Research downgraded Ribbon Communications from a hold rating to a sell rating in a report on Thursday, July 26th. BidaskClub downgraded Ribbon Communications from a buy rating to a hold rating in a report on Wednesday, August 29th. Cowen upgraded Ribbon Communications from an underperform rating to a market perform rating in a report on Wednesday, August 1st. William Blair restated a buy rating on shares of Ribbon Communications in a report on Tuesday, July 31st. Finally, National Securities assumed coverage on Ribbon Communications in a report on Monday, October 22nd. They issued a buy rating and a $8.50 price objective on the stock. Two analysts have rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of Hold and a consensus price target of $8.13.
NASDAQ RBBN opened at $5.74 on Friday. Ribbon Communications has a twelve month low of $4.96 and a twelve month high of $8.36. The stock has a market cap of $611.42 million, a P/E ratio of 82.00, a price-to-earnings-growth ratio of 1.10 and a beta of 1.52. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.04.
Institutional investors have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Ribbon Communications in the 3rd quarter worth about $202,000. Ramsey Quantitative Systems raised its holdings in shares of Ribbon Communications by 397.2% during the 3rd quarter. Ramsey Quantitative Systems now owns 30,882 shares of the communications equipment provider’s stock valued at $211,000 after buying an additional 24,671 shares during the period. MetLife Investment Advisors LLC purchased a new stake in shares of Ribbon Communications during the 3rd quarter valued at about $274,000. Rhumbline Advisers raised its holdings in shares of Ribbon Communications by 17.0% during the 2nd quarter. Rhumbline Advisers now owns 54,434 shares of the communications equipment provider’s stock valued at $388,000 after buying an additional 7,912 shares during the period. Finally, Virginia Retirement Systems ET AL purchased a new stake in shares of Ribbon Communications during the 2nd quarter valued at about $396,000. Institutional investors own 78.97% of the company’s stock.
Ribbon Communications Company Profile
Ribbon Communications Inc provides networked solutions in the United States, Europe, the Middle East, Africa, Japan, rest of the Asia Pacific, and internationally. The company offers service provider solutions, such as fixed network transformation, mobile network evolution, secure network interconnects, network functions virtualization, cloud communications, and communications security solutions that enables to modernize communications networks, as well as provides secure real-time communications software, hardware, and cloud-native solutions.
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