Juniper Networks’ (JNPR) Outperform Rating Reiterated at Raymond James Financial, Inc.
Juniper Networks, Inc. (NYSE:JNPR)‘s stock had its “outperform” rating reaffirmed by investment analysts at Raymond James Financial, Inc. in a research note issued on Thursday. They currently have a $35.00 target price on the network equipment provider’s stock. Raymond James Financial, Inc.’s price target would suggest a potential upside of 30.31% from the stock’s current price.
Several other research firms have also issued reports on JNPR. Zacks Investment Research raised Juniper Networks from a “hold” rating to a “strong-buy” rating and set a $32.00 target price for the company in a report on Wednesday, August 16th. BidaskClub raised Juniper Networks from a “sell” rating to a “hold” rating in a report on Thursday, October 5th. Bank of America Corporation lowered Juniper Networks from a “buy” rating to a “neutral” rating in a report on Wednesday. Nomura lowered Juniper Networks from a “buy” rating to a “neutral” rating in a report on Thursday. Finally, Drexel Hamilton reaffirmed a “buy” rating and issued a $37.00 target price on shares of Juniper Networks in a report on Thursday, July 20th. Three analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $30.64.
Shares of Juniper Networks (NYSE JNPR) traded down 5.77% on Thursday, hitting $25.31. The stock had a trading volume of 13,238,765 shares. The company has a 50-day moving average of $27.66 and a 200 day moving average of $28.48. Juniper Networks has a 52 week low of $22.41 and a 52 week high of $30.96. The company has a market capitalization of $9.63 billion, a price-to-earnings ratio of 15.15 and a beta of 1.09.
Juniper Networks (NYSE:JNPR) last released its earnings results on Tuesday, July 25th. The network equipment provider reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.03. The company had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.29 billion. Juniper Networks had a return on equity of 14.13% and a net margin of 12.66%. Juniper Networks’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.50 earnings per share. On average, equities research analysts predict that Juniper Networks will post $2.23 EPS for the current year.
In related news, EVP Vincent Molinaro sold 5,031 shares of the stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $30.00, for a total value of $150,930.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Terrance F. Spidell sold 3,313 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $27.69, for a total value of $91,736.97. The disclosure for this sale can be found here. Insiders sold 35,044 shares of company stock worth $974,774 in the last quarter. 3.40% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in JNPR. Numeric Investors LLC raised its position in Juniper Networks by 3,949.6% during the second quarter. Numeric Investors LLC now owns 4,673,200 shares of the network equipment provider’s stock valued at $130,289,000 after purchasing an additional 4,557,800 shares in the last quarter. Renaissance Technologies LLC raised its position in Juniper Networks by 197.7% during the second quarter. Renaissance Technologies LLC now owns 5,427,091 shares of the network equipment provider’s stock valued at $151,307,000 after purchasing an additional 3,604,200 shares in the last quarter. Diamond Hill Capital Management Inc. raised its position in Juniper Networks by 40.0% during the second quarter. Diamond Hill Capital Management Inc. now owns 11,378,124 shares of the network equipment provider’s stock valued at $317,222,000 after purchasing an additional 3,248,819 shares in the last quarter. Prudential Financial Inc. raised its position in Juniper Networks by 260.0% during the second quarter. Prudential Financial Inc. now owns 3,374,305 shares of the network equipment provider’s stock valued at $94,076,000 after purchasing an additional 2,437,006 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in Juniper Networks by 6.4% during the second quarter. Vanguard Group Inc. now owns 38,434,820 shares of the network equipment provider’s stock valued at $1,071,564,000 after purchasing an additional 2,314,683 shares in the last quarter. Institutional investors and hedge funds own 90.16% of the company’s stock.
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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