Ribbon Communications (NASDAQ:RBBN) Reaches New 52-Week High - Here's Why

Ribbon Communications Inc. (NASDAQ:RBBN - Get Free Report)'s share price reached a new 52-week high during trading on Monday . The stock traded as high as $4.39 and last traded at $4.14, with a volume of 132005 shares trading hands. The stock had previously closed at $4.17.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Northland Securities boosted their price target on Ribbon Communications from $5.50 to $6.00 and gave the stock an "outperform" rating in a report on Thursday. Rosenblatt Securities reissued a "buy" rating and set a $5.00 target price on shares of Ribbon Communications in a report on Wednesday, September 25th. Four equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $5.88.

Ribbon Communications Price Performance

The stock has a 50-day moving average price of $3.84 and a 200-day moving average price of $3.43. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.42 and a quick ratio of 1.16. The company has a market capitalization of $731.35 million, a P/E ratio of -13.03 and a beta of 1.14.

Ribbon Communications (NASDAQ:RBBN - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The communications equipment provider reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). Ribbon Communications had a positive return on equity of 5.41% and a negative net margin of 6.62%. The firm had revenue of $210.00 million for the quarter, compared to the consensus estimate of $212.17 million. During the same quarter in the previous year, the business posted $0.03 EPS. The firm's revenue for the quarter was up 3.4% compared to the same quarter last year. On average, research analysts predict that Ribbon Communications Inc. will post 0.13 EPS for the current fiscal year.

Institutional Trading of Ribbon Communications

A number of institutional investors have recently bought and sold shares of RBBN. Intech Investment Management LLC bought a new position in shares of Ribbon Communications during the 3rd quarter worth approximately $34,000. MQS Management LLC acquired a new position in shares of Ribbon Communications during the 2nd quarter valued at $100,000. SG Americas Securities LLC boosted its stake in Ribbon Communications by 81.3% during the third quarter. SG Americas Securities LLC now owns 34,793 shares of the communications equipment provider's stock worth $113,000 after acquiring an additional 15,604 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in Ribbon Communications in the second quarter worth $132,000. Finally, AQR Capital Management LLC bought a new stake in Ribbon Communications in the second quarter valued at $137,000. Institutional investors own 70.92% of the company's stock.

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.