Juniper Networks (NYSE:JNPR) was downgraded by analysts at Goldman Sachs from a “neutral” rating to a “sell” rating in a research note issued to investors on Wednesday, Marketbeat.com reports. They currently have a $21.00 price objective on the network equipment provider’s stock, down from their previous price objective of $26.00. Goldman Sachs’ price target would indicate a potential downside of 14.08% from the company’s previous close.
A number of other equities research analysts also recently weighed in on the stock. Zacks Investment Research upgraded shares of Juniper Networks from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 3rd. ValuEngine downgraded shares of Juniper Networks from a “buy” rating to a “hold” rating in a research note on Wednesday, March 28th. Standpoint Research upgraded shares of Juniper Networks from a “hold” rating to a “buy” rating in a research note on Tuesday, February 27th. BMO Capital Markets reiterated a “buy” rating and set a $29.00 price target on shares of Juniper Networks in a research note on Sunday, February 11th. Finally, TheStreet downgraded shares of Juniper Networks from a “b” rating to a “c+” rating in a research note on Thursday, February 8th. Four investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and nine have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $28.41.
Shares of Juniper Networks stock opened at $24.44 on Wednesday. The firm has a market capitalization of $8,380.79, a PE ratio of 13.93, a P/E/G ratio of 2.84 and a beta of 0.96. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.41 and a current ratio of 2.41. Juniper Networks has a 1 year low of $23.61 and a 1 year high of $30.96.
Juniper Networks declared that its board has initiated a share buyback plan on Tuesday, January 30th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the network equipment provider to purchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.
In related news, Director William Stensrud sold 10,000 shares of Juniper Networks stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $26.17, for a total value of $261,700.00. Following the completion of the transaction, the director now directly owns 5,531 shares of the company’s stock, valued at $144,746.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Rami Rahim sold 10,800 shares of Juniper Networks stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $26.27, for a total value of $283,716.00. The disclosure for this sale can be found here. Insiders sold 42,813 shares of company stock valued at $1,124,709 over the last ninety days. 2.60% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. First Trust Advisors LP raised its holdings in shares of Juniper Networks by 24.6% in the fourth quarter. First Trust Advisors LP now owns 8,988,140 shares of the network equipment provider’s stock valued at $256,162,000 after buying an additional 1,772,303 shares during the last quarter. Bank of New York Mellon Corp increased its position in Juniper Networks by 7.7% in the fourth quarter. Bank of New York Mellon Corp now owns 7,304,607 shares of the network equipment provider’s stock worth $208,182,000 after purchasing an additional 520,449 shares during the period. LSV Asset Management increased its position in Juniper Networks by 3.7% in the fourth quarter. LSV Asset Management now owns 6,804,243 shares of the network equipment provider’s stock worth $193,920,000 after purchasing an additional 242,600 shares during the period. Fairpointe Capital LLC increased its position in Juniper Networks by 3.6% in the fourth quarter. Fairpointe Capital LLC now owns 6,264,209 shares of the network equipment provider’s stock worth $178,530,000 after purchasing an additional 216,254 shares during the period. Finally, Geode Capital Management LLC increased its position in Juniper Networks by 4.1% in the fourth quarter. Geode Capital Management LLC now owns 5,214,972 shares of the network equipment provider’s stock worth $148,391,000 after purchasing an additional 203,465 shares during the period. 95.49% of the stock is owned by institutional investors and hedge funds.
Juniper Networks Company Profile
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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