Juniper Networks, Inc. (JNPR) Stock Rating Lowered by Zacks Investment Research
Juniper Networks, Inc. (NYSE:JNPR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Monday.
According to Zacks, “Juniper is gaining on strong adoption of its cloud products and robust performance from the QFX switch product line, which was evident from the second-quarter results. Both earnings and revenues increased on a year-over-year basis in the reported quarter. We note that the stock has outperformed the industry on a year-to-date basis. We believe that frequent product launches, cost reduction initiatives and improving execution are encouraging. However, management noted that pricing pressure, unfavorable product and customer mix along with higher DRAM memory prices will continue to hurt gross margin in the rest of 2017. Moreover lumpy router revenue growth is also a concern. Additionally, stiff competition and ongoing consolidation in the telecom market remain concerns.”
JNPR has been the subject of a number of other reports. TheStreet upgraded Juniper Networks from a “c+” rating to a “b” rating in a research report on Monday, July 24th. ValuEngine upgraded Juniper Networks from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Instinet restated a “buy” rating and issued a $33.00 price target on shares of Juniper Networks in a research report on Tuesday, July 4th. Drexel Hamilton restated a “buy” rating and issued a $37.00 price target on shares of Juniper Networks in a research report on Thursday, July 20th. Finally, Berenberg Bank reiterated a “buy” rating and issued a $35.00 price objective on shares of Juniper Networks in a report on Thursday, July 27th. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and an average price target of $30.89.
Shares of Juniper Networks (NYSE JNPR) traded up 0.53% during trading on Monday, reaching $28.29. The company had a trading volume of 3,775,557 shares. The company has a market capitalization of $10.76 billion, a PE ratio of 16.93 and a beta of 1.07. Juniper Networks has a 52 week low of $22.12 and a 52 week high of $30.96. The stock’s 50-day moving average price is $28.62 and its 200-day moving average price is $28.53.
Juniper Networks (NYSE:JNPR) last posted its quarterly earnings data on Tuesday, July 25th. The network equipment provider reported $0.57 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.03. Juniper Networks had a return on equity of 14.13% and a net margin of 12.66%. The company had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same period in the previous year, the business earned $0.50 EPS. Juniper Networks’s quarterly revenue was up 7.2% on a year-over-year basis. On average, equities analysts expect that Juniper Networks will post $2.24 EPS for the current fiscal year.
In other news, CEO Rami Rahim sold 10,700 shares of the stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $30.64, for a total transaction of $327,848.00. Following the completion of the sale, the chief executive officer now owns 469,607 shares in the company, valued at $14,388,758.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Pradeep Sindhu sold 76,900 shares of the stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $30.55, for a total transaction of $2,349,295.00. Following the sale, the director now owns 40,773 shares of the company’s stock, valued at approximately $1,245,615.15. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 106,544 shares of company stock worth $3,232,192. Corporate insiders own 3.40% of the company’s stock.
Large investors have recently made changes to their positions in the company. Fox Run Management L.L.C. purchased a new stake in shares of Juniper Networks during the second quarter worth approximately $719,000. NN Investment Partners Holdings N.V. increased its stake in shares of Juniper Networks by 47.3% in the second quarter. NN Investment Partners Holdings N.V. now owns 474,851 shares of the network equipment provider’s stock worth $13,239,000 after buying an additional 152,412 shares during the last quarter. State of Alaska Department of Revenue purchased a new stake in shares of Juniper Networks during the first quarter worth approximately $423,000. Oregon Public Employees Retirement Fund increased its stake in shares of Juniper Networks by 2.4% in the second quarter. Oregon Public Employees Retirement Fund now owns 102,505 shares of the network equipment provider’s stock worth $2,858,000 after buying an additional 2,400 shares during the last quarter. Finally, Norinchukin Bank The increased its stake in shares of Juniper Networks by 7.6% in the first quarter. Norinchukin Bank The now owns 24,823 shares of the network equipment provider’s stock worth $691,000 after buying an additional 1,751 shares during the last quarter. Institutional investors and hedge funds own 91.15% of the company’s stock.
About Juniper Networks
Juniper Networks, Inc designs, develops and sells products and services for high-performance networks to enable customers to build networks for their businesses. The Company sells its products in over 100 countries in three geographic regions: Americas; Europe, the Middle East and Africa, and Asia Pacific.
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