Ciena Co. (NYSE:CIEN) Given Consensus Recommendation of "Moderate Buy" by Analysts

Shares of Ciena Co. (NYSE:CIEN - Get Free Report) have earned a consensus rating of "Moderate Buy" from the fourteen ratings firms that are covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $81.38.

Several equities analysts have recently issued reports on the company. Stifel Nicolaus reissued a "buy" rating and set a $82.00 target price (up from $75.00) on shares of Ciena in a research note on Tuesday, December 10th. B. Riley restated a "buy" rating and issued a $89.00 price objective (down from $97.00) on shares of Ciena in a report on Wednesday, March 12th. Citigroup lifted their target price on shares of Ciena from $84.00 to $98.00 and gave the company a "buy" rating in a research note on Friday, December 13th. Barclays set a $100.00 price target on shares of Ciena and gave the company an "overweight" rating in a research report on Wednesday, March 12th. Finally, Bank of America upgraded shares of Ciena from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $70.00 to $95.00 in a report on Friday, December 13th.

Ciena Trading Down 0.4 %

NYSE:CIEN traded down $0.30 during mid-day trading on Friday, reaching $69.23. 1,964,512 shares of the company's stock traded hands, compared to its average volume of 1,907,546. The company has a 50 day moving average price of $80.32 and a 200-day moving average price of $73.86. The firm has a market capitalization of $9.84 billion, a price-to-earnings ratio of 121.46, a PEG ratio of 1.54 and a beta of 0.91. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.55 and a quick ratio of 2.72. Ciena has a 12-month low of $43.30 and a 12-month high of $101.44.

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Insider Activity

In related news, SVP Dino Diperna sold 2,682 shares of the firm's stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $87.64, for a total transaction of $235,050.48. Following the completion of the sale, the senior vice president now owns 50,607 shares of the company's stock, valued at $4,435,197.48. This trade represents a 5.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Brodie Gage sold 350 shares of the business's stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $85.91, for a total transaction of $30,068.50. Following the completion of the transaction, the senior vice president now owns 49,547 shares of the company's stock, valued at approximately $4,256,582.77. The trade was a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 66,742 shares of company stock worth $5,469,173 over the last three months. 0.93% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Ciena

Several institutional investors have recently modified their holdings of CIEN. 111 Capital bought a new position in Ciena during the 4th quarter valued at about $428,000. Carolinas Wealth Consulting LLC purchased a new position in shares of Ciena during the fourth quarter valued at approximately $106,000. Forum Financial Management LP bought a new position in Ciena during the fourth quarter valued at approximately $259,000. Orion Capital Management LLC purchased a new stake in Ciena in the fourth quarter worth approximately $42,000. Finally, Kolinsky Wealth Management LLC bought a new stake in Ciena in the 4th quarter worth approximately $216,000. 91.99% of the stock is owned by hedge funds and other institutional investors.

Ciena Company Profile

Ciena Corporation provides hardware and software services for delivery of video, data, and voice traffic metro, aggregation, and access communications network worldwide. The company's Networking Platforms segment offers convergence of coherent optical transport, open optical networking, optical transport network switching, IP routing, and switching services.