Bank of America Corporation Reiterates Hold Rating for Juniper Networks, Inc. (JNPR)
Juniper Networks, Inc. (NYSE:JNPR)‘s stock had its “hold” rating reissued by stock analysts at Bank of America Corporation in a research report issued to clients and investors on Wednesday.
A number of other brokerages have also recently weighed in on JNPR. Robert W. Baird set a $30.00 price objective on Juniper Networks and gave the company a “hold” rating in a report on Wednesday, July 26th. UBS AG reissued a “neutral” rating and set a $30.00 price objective (up from $28.00) on shares of Juniper Networks in a report on Wednesday, July 26th. Drexel Hamilton reissued a “buy” rating and set a $37.00 price objective on shares of Juniper Networks in a report on Thursday, July 20th. Raymond James Financial, Inc. raised Juniper Networks from a “market perform” rating to an “outperform” rating and set a $34.00 price objective on the stock in a report on Friday, July 21st. Finally, BidaskClub raised Juniper Networks from a “sell” rating to a “hold” rating in a report on Thursday, October 5th. Five equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $30.39.
Juniper Networks (NYSE:JNPR) traded up 0.23% during mid-day trading on Wednesday, hitting $26.17. The stock had a trading volume of 1,748,425 shares. Juniper Networks has a 52 week low of $22.41 and a 52 week high of $30.96. The firm has a market cap of $9.95 billion, a PE ratio of 15.66 and a beta of 1.09. The company’s 50 day moving average price is $27.56 and its 200 day moving average price is $28.45.
Juniper Networks (NYSE:JNPR) last announced its quarterly earnings data on Tuesday, July 25th. The network equipment provider reported $0.57 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.03. The company had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.29 billion. Juniper Networks had a return on equity of 14.13% and a net margin of 12.66%. Juniper Networks’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period last year, the firm posted $0.50 EPS. Analysts anticipate that Juniper Networks will post $2.17 earnings per share for the current year.
In other news, VP Terrance F. Spidell sold 3,313 shares of Juniper Networks stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $27.69, for a total value of $91,736.97. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Rami Rahim sold 16,000 shares of Juniper Networks stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $27.43, for a total value of $438,880.00. Following the completion of the sale, the chief executive officer now owns 469,607 shares in the company, valued at $12,881,320.01. The disclosure for this sale can be found here. Over the last quarter, insiders sold 35,044 shares of company stock worth $974,774. Corporate insiders own 2.60% of the company’s stock.
Several hedge funds have recently modified their holdings of JNPR. Creative Planning grew its position in shares of Juniper Networks by 0.4% in the 2nd quarter. Creative Planning now owns 4,696 shares of the network equipment provider’s stock worth $131,000 after buying an additional 21 shares during the last quarter. Acrospire Investment Management LLC grew its position in shares of Juniper Networks by 4.3% in the 2nd quarter. Acrospire Investment Management LLC now owns 4,890 shares of the network equipment provider’s stock worth $136,000 after buying an additional 201 shares during the last quarter. Petrus Trust Company LTA bought a new stake in shares of Juniper Networks in the 2nd quarter worth approximately $204,000. Menta Capital LLC bought a new stake in shares of Juniper Networks in the 1st quarter worth approximately $205,000. Finally, River Wealth Advisors LLC bought a new stake in shares of Juniper Networks in the 2nd quarter worth approximately $206,000. Hedge funds and other institutional investors own 90.14% 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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