Ericsson (NASDAQ:ERIC) Stock Rating Upgraded by Argus

Ericsson (NASDAQ:ERIC) was upgraded by equities researchers at Argus to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other research firms have also recently issued reports on ERIC. Weiss Ratings restated a “buy (b-)” rating on shares of Ericsson in a research report on Monday, December 29th. Citigroup reaffirmed a “neutral” rating on shares of Ericsson in a research report on Friday, January 16th. Jefferies Financial Group raised Ericsson to a “hold” rating in a research note on Monday, October 13th. Barclays reaffirmed an “underweight” rating on shares of Ericsson in a research note on Wednesday, October 15th. Finally, Danske lowered shares of Ericsson to a “hold” rating in a report on Wednesday, October 15th. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $9.80.

Ericsson Stock Performance

Shares of ERIC stock opened at $10.68 on Monday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.94 and a current ratio of 1.17. Ericsson has a fifty-two week low of $6.64 and a fifty-two week high of $10.76. The company has a market capitalization of $36.00 billion, a P/E ratio of 12.14, a PEG ratio of 1.97 and a beta of 0.92. The stock has a 50 day moving average price of $9.59 and a two-hundred day moving average price of $8.79.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of ERIC. Brooklyn Investment Group grew its holdings in Ericsson by 302.7% in the third quarter. Brooklyn Investment Group now owns 46,112 shares of the communications equipment provider’s stock worth $381,000 after purchasing an additional 34,660 shares during the period. Brown Brothers Harriman & Co. purchased a new stake in shares of Ericsson in the 3rd quarter worth approximately $28,000. Marshall Wace LLP increased its position in Ericsson by 234.2% during the 3rd quarter. Marshall Wace LLP now owns 1,078,145 shares of the communications equipment provider’s stock valued at $8,916,000 after buying an additional 755,587 shares in the last quarter. Quantitative Investment Management LLC bought a new stake in Ericsson in the third quarter worth $1,349,000. Finally, Van ECK Associates Corp grew its stake in shares of Ericsson by 434.3% in the third quarter. Van ECK Associates Corp now owns 380,372 shares of the communications equipment provider’s stock worth $3,146,000 after acquiring an additional 309,183 shares during the last quarter. 7.99% of the stock is owned by hedge funds and other institutional investors.

About Ericsson

Ericsson AB is a Swedish multinational telecommunications equipment and services company headquartered in Stockholm. Founded in 1876 by Lars Magnus Ericsson, the company designs, develops and sells infrastructure, software and services that enable mobile and fixed-line networks worldwide. Ericsson serves a global customer base that includes mobile network operators, enterprise customers and public-sector organizations across Europe, the Americas, Asia-Pacific, the Middle East and Africa.

The company’s core activities center on building and modernizing network infrastructure, with a particular focus on radio access networks (RAN), core network software, cloud-native solutions and network management systems.