Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Receives $5.90 Consensus Target Price from Analysts

Shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Get Free Report) have been given a consensus recommendation of "Reduce" by the four ratings firms that are covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and one has issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $5.90.

A number of research firms recently weighed in on ERIC. StockNews.com raised Telefonaktiebolaget LM Ericsson (publ) from a "buy" rating to a "strong-buy" rating in a research report on Wednesday. JPMorgan Chase & Co. boosted their price objective on Telefonaktiebolaget LM Ericsson (publ) from $5.58 to $5.90 and gave the company a "neutral" rating in a research report on Monday, July 15th.

Hedge Funds Weigh In On Telefonaktiebolaget LM Ericsson (publ)

Several institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 131.2% in the 2nd quarter. GAMMA Investing LLC now owns 5,464 shares of the communications equipment provider's stock worth $34,000 after acquiring an additional 3,101 shares in the last quarter. Hexagon Capital Partners LLC raised its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 225.5% in the third quarter. Hexagon Capital Partners LLC now owns 5,664 shares of the communications equipment provider's stock valued at $43,000 after buying an additional 3,924 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in Telefonaktiebolaget LM Ericsson (publ) during the 1st quarter worth about $36,000. BOKF NA acquired a new stake in Telefonaktiebolaget LM Ericsson (publ) in the 2nd quarter valued at about $41,000. Finally, NBC Securities Inc. raised its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 258.1% in the first quarter. NBC Securities Inc. now owns 10,744 shares of the communications equipment provider's stock worth $59,000 after acquiring an additional 7,744 shares during the last quarter. 7.99% of the stock is owned by institutional investors.

Telefonaktiebolaget LM Ericsson (publ) Stock Performance

Shares of NASDAQ:ERIC traded up $0.22 on Friday, hitting $8.50. 20,938,450 shares of the company were exchanged, compared to its average volume of 16,650,162. The company's 50 day moving average price is $7.46 and its two-hundred day moving average price is $6.45. The firm has a market capitalization of $28.33 billion, a price-to-earnings ratio of -8.59 and a beta of 0.83. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.90 and a current ratio of 1.14. Telefonaktiebolaget LM Ericsson has a one year low of $4.33 and a one year high of $8.62.

Telefonaktiebolaget LM Ericsson (publ) Company Profile

Telefonaktiebolaget LM Ericsson (publ), together with its subsidiaries, provides mobile connectivity solutions for telcom operators and enterprise customers in various sectors in North America, Europe, Latin America, the Middle East, Africa, North East Asia, South East Asia, Oceania, and India. It operates in four segments: Networks; Cloud Software and Services; Enterprise; and Other.