B. Riley Increases Ribbon Communications (NASDAQ:RBBN) Price Target to $6.50

Ribbon Communications (NASDAQ:RBBN) had its target price increased by B. Riley from $6.00 to $6.50 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the communications equipment provider’s stock. B. Riley’s target price would indicate a potential upside of 107.67% from the company’s previous close.

Separately, StockNews.com upgraded shares of Ribbon Communications from a “hold” rating to a “buy” rating in a report on Saturday, March 9th.

Ribbon Communications Stock Down 3.4 %

NASDAQ:RBBN opened at $3.13 on Thursday. Ribbon Communications has a one year low of $1.78 and a one year high of $3.65. The firm’s fifty day moving average price is $2.97 and its two-hundred day moving average price is $2.69. The company has a current ratio of 1.23, a quick ratio of 1.00 and a debt-to-equity ratio of 0.44.

Ribbon Communications (NASDAQ:RBBN) last released its quarterly earnings data on Wednesday, February 14th. The communications equipment provider reported $0.10 EPS for the quarter, meeting the consensus estimate of $0.10. Ribbon Communications had a negative net margin of 7.11% and a positive return on equity of 4.26%. The firm had revenue of $226.40 million for the quarter, compared to the consensus estimate of $233.63 million. On average, analysts anticipate that Ribbon Communications will post 0.18 EPS for the current year.

Insider Activity at Ribbon Communications

In other Ribbon Communications news, Director Bruns H. Grayson purchased 100,000 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were acquired at an average cost of $2.89 per share, for a total transaction of $289,000.00. Following the completion of the purchase, the director now owns 590,175 shares of the company’s stock, valued at approximately $1,705,605.75. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Bruns H. Grayson acquired 100,000 shares of Ribbon Communications stock in a transaction on Friday, March 15th. The shares were purchased at an average cost of $2.89 per share, for a total transaction of $289,000.00. Following the completion of the purchase, the director now directly owns 590,175 shares of the company’s stock, valued at approximately $1,705,605.75. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Dan Redington sold 23,964 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $3.09, for a total transaction of $74,048.76. Following the sale, the executive vice president now owns 101,291 shares in the company, valued at $312,989.19. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 103,000 shares of company stock worth $297,720 and have sold 66,000 shares worth $205,119. 2.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Ribbon Communications

Large investors have recently bought and sold shares of the company. Silverberg Bernstein Capital Management LLC acquired a new stake in Ribbon Communications during the fourth quarter worth about $1,176,000. Assenagon Asset Management S.A. bought a new position in shares of Ribbon Communications in the fourth quarter worth about $387,000. New York State Common Retirement Fund lifted its holdings in shares of Ribbon Communications by 22.0% in the third quarter. New York State Common Retirement Fund now owns 39,646 shares of the communications equipment provider’s stock worth $106,000 after acquiring an additional 7,146 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Ribbon Communications by 1,411.5% in the third quarter. Victory Capital Management Inc. now owns 228,154 shares of the communications equipment provider’s stock worth $611,000 after acquiring an additional 213,059 shares during the last quarter. Finally, Paradigm Capital Management Inc. NY lifted its holdings in shares of Ribbon Communications by 6.8% in the third quarter. Paradigm Capital Management Inc. NY now owns 7,495,400 shares of the communications equipment provider’s stock worth $20,088,000 after acquiring an additional 477,047 shares during the last quarter. 70.92% of the stock is currently owned by institutional investors and hedge funds.

Ribbon Communications Company Profile

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.