Bank of America downgraded shares of Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) from a buy rating to an underperform rating in a research note published on Monday, February 5th, Marketbeat Ratings reports.
Several other brokerages have also issued reports on ERIC. Cowen lowered Telefonaktiebolaget LM Ericsson to an underperform rating in a research report on Thursday, October 19th. BMO Capital Markets reissued a hold rating and issued a $6.00 price objective on shares of Telefonaktiebolaget LM Ericsson in a report on Friday, October 20th. Canaccord Genuity reissued a hold rating and issued a $6.00 price objective (down from $6.50) on shares of Telefonaktiebolaget LM Ericsson in a report on Thursday, February 1st. Zacks Investment Research upgraded Telefonaktiebolaget LM Ericsson from a strong sell rating to a hold rating in a research note on Wednesday, December 20th. Finally, Citigroup downgraded Telefonaktiebolaget LM Ericsson from a buy rating to a neutral rating in a research note on Thursday, November 9th. Five investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. Telefonaktiebolaget LM Ericsson presently has an average rating of Hold and an average price target of $5.49.
Shares of Telefonaktiebolaget LM Ericsson (NASDAQ ERIC) opened at $6.66 on Monday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.59 and a quick ratio of 1.33. The firm has a market capitalization of $21,838.68, a price-to-earnings ratio of -5.37 and a beta of 0.92. Telefonaktiebolaget LM Ericsson has a 1-year low of $5.52 and a 1-year high of $7.47.
Several large investors have recently bought and sold shares of the stock. Keybank National Association OH acquired a new stake in shares of Telefonaktiebolaget LM Ericsson in the fourth quarter valued at $100,000. Advisor Group Inc. grew its stake in shares of Telefonaktiebolaget LM Ericsson by 14.4% in the second quarter. Advisor Group Inc. now owns 19,964 shares of the communications equipment provider’s stock valued at $143,000 after buying an additional 2,520 shares in the last quarter. Regal Investment Advisors LLC grew its stake in shares of Telefonaktiebolaget LM Ericsson by 121.2% in the third quarter. Regal Investment Advisors LLC now owns 26,271 shares of the communications equipment provider’s stock valued at $151,000 after buying an additional 14,397 shares in the last quarter. James Hambro & Partners acquired a new stake in shares of Telefonaktiebolaget LM Ericsson in the fourth quarter valued at $157,000. Finally, Well Done LLC acquired a new stake in shares of Telefonaktiebolaget LM Ericsson in the third quarter valued at $173,000. 8.04% of the stock is owned by hedge funds and other institutional investors.
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About Telefonaktiebolaget LM Ericsson
Telefonaktiebolaget LM Ericsson (Ericsson) provides infrastructure, services and software to the telecommunication industry and other sectors. The Company’s segments include Networks, IT & Cloud and Media. The Networks segment consists of two business units: Network Products and Network Services. The overall focus is on evolving and managing access networks, including the development of hardware and software for radio access and transport networks.
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