Zacks Investment Research downgraded shares of AudioCodes (NASDAQ:AUDC) from a buy rating to a hold rating in a report issued on Friday.
According to Zacks, “AUDIOCODES LTD designs, develops and markets enabling technologies and communication components for the transmission of voice, fax and modem over packet networks. Newly developed Voice over IP gateways as well as DSL and ATM access devices, enable packet networks to carry voice and data more efficiently and at lower cost than traditional telephone networks. They are a provider of voice over packet communication components that empower the development of equipment for these emerging markets. “
Several other research analysts have also issued reports on AUDC. William Blair restated an outperform rating on shares of AudioCodes in a research report on Wednesday, January 24th. Needham & Company LLC restated a buy rating and issued a $9.00 price target (up from $8.50) on shares of AudioCodes in a research report on Thursday, January 25th. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. AudioCodes has a consensus rating of Buy and an average price target of $8.08.
AudioCodes (AUDC) traded down $0.03 during trading hours on Friday, hitting $7.49. The stock had a trading volume of 38,585 shares, compared to its average volume of 60,588. AudioCodes has a 1-year low of $5.83 and a 1-year high of $8.43. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.71 and a quick ratio of 1.34. The company has a market cap of $215.28, a price-to-earnings ratio of 62.42 and a beta of 0.28.
AudioCodes (NASDAQ:AUDC) last posted its quarterly earnings results on Wednesday, January 24th. The communications equipment provider reported $0.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.02. AudioCodes had a return on equity of 9.82% and a net margin of 2.57%. The business had revenue of $41.40 million for the quarter, compared to analyst estimates of $40.30 million. During the same period last year, the company earned $0.08 EPS. The firm’s revenue was up 9.5% on a year-over-year basis. sell-side analysts predict that AudioCodes will post 0.3 earnings per share for the current year.
A number of hedge funds have recently bought and sold shares of AUDC. Royal Bank of Canada lifted its holdings in AudioCodes by 3.6% during the second quarter. Royal Bank of Canada now owns 34,499 shares of the communications equipment provider’s stock worth $207,000 after acquiring an additional 1,200 shares in the last quarter. First Trust Advisors LP lifted its holdings in AudioCodes by 112.6% during the third quarter. First Trust Advisors LP now owns 105,385 shares of the communications equipment provider’s stock worth $752,000 after acquiring an additional 55,820 shares in the last quarter. Macquarie Group Ltd. bought a new position in AudioCodes during the third quarter worth about $713,000. Trexquant Investment LP acquired a new stake in shares of AudioCodes in the 3rd quarter valued at about $123,000. Finally, Acadian Asset Management LLC raised its stake in shares of AudioCodes by 34.9% in the 4th quarter. Acadian Asset Management LLC now owns 859,182 shares of the communications equipment provider’s stock valued at $6,325,000 after purchasing an additional 222,430 shares during the period. Hedge funds and other institutional investors own 24.56% of the company’s stock.
WARNING: “AudioCodes (AUDC) Downgraded by Zacks Investment Research to “Hold”” was posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this report on another publication, it was illegally stolen and republished in violation of United States & international copyright law. The correct version of this report can be accessed at https://ledgergazette.com/2018/03/10/audiocodes-audc-downgraded-by-zacks-investment-research-to-hold.html.
AudioCodes Ltd. designs, develops and sells Voice over-Internet Protocol (VoIP) and converged VoIP, and data networking solutions, products and applications that facilitate Unified Communications (UC) and Contact Center (CC) services. The Company categorizes its products and services into two main business lines: network and technology.
Receive News & Ratings for AudioCodes Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AudioCodes and related companies with MarketBeat.com's FREE daily email newsletter.