Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) Upgraded to “Buy” by ValuEngine

ValuEngine upgraded shares of Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) from a hold rating to a buy rating in a report released on Thursday morning, ValuEngine reports.

A number of other equities research analysts have also issued reports on ERIC. BidaskClub lowered Telefonaktiebolaget LM Ericsson from a sell rating to a strong sell rating in a research note on Tuesday, January 14th. New Street Research assumed coverage on Telefonaktiebolaget LM Ericsson in a research report on Friday, October 18th. They issued a neutral rating on the stock. Canaccord Genuity restated a buy rating and issued a $11.00 price objective on shares of Telefonaktiebolaget LM Ericsson in a research report on Friday, January 24th. Danske raised Telefonaktiebolaget LM Ericsson from a hold rating to a buy rating in a research note on Monday, January 27th. Finally, Zacks Investment Research cut Telefonaktiebolaget LM Ericsson from a buy rating to a hold rating and set a $9.50 target price for the company. in a research report on Monday, December 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $10.14.

Shares of ERIC remained flat at $$9.08 during trading hours on Thursday. 4,629,830 shares of the company were exchanged, compared to its average volume of 8,998,772. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.05 and a current ratio of 1.32. Telefonaktiebolaget LM Ericsson has a 52 week low of $7.58 and a 52 week high of $10.46. The company’s 50-day simple moving average is $8.66 and its 200-day simple moving average is $8.61. The company has a market capitalization of $30.01 billion, a P/E ratio of 129.73 and a beta of 0.58.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Advisory Services Network LLC increased its holdings in Telefonaktiebolaget LM Ericsson by 143.3% in the 4th quarter. Advisory Services Network LLC now owns 7,986 shares of the communications equipment provider’s stock valued at $69,000 after acquiring an additional 4,704 shares during the last quarter. Koshinski Asset Management Inc. purchased a new position in shares of Telefonaktiebolaget LM Ericsson during the third quarter valued at about $83,000. Eaton Vance Management purchased a new position in shares of Telefonaktiebolaget LM Ericsson during the fourth quarter valued at about $97,000. Enlightenment Research LLC bought a new stake in shares of Telefonaktiebolaget LM Ericsson in the fourth quarter worth about $98,000. Finally, OneAscent Financial Services LLC bought a new stake in shares of Telefonaktiebolaget LM Ericsson in the fourth quarter worth about $99,000. 8.06% of the stock is owned by institutional investors.

Telefonaktiebolaget LM Ericsson Company Profile

Telefonaktiebolaget LM Ericsson (publ) provides information and communications technology solutions for service providers. It operates through four segments: Networks, Digital Services, Managed Services, and Emerging Business and Other. The Networks segment provides mobile radio access networks, transport solutions, and site solutions, as well as related services, such as network rollout, network tuning, and customer support.

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Analyst Recommendations for Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC)

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