Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Given Consensus Rating of “Reduce” by Brokerages

Shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) have been assigned a consensus recommendation of “Reduce” from the four research firms that are covering the company, Marketbeat reports. Two analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $6.70.

ERIC has been the topic of a number of analyst reports. JPMorgan Chase & Co. upped their target price on shares of Telefonaktiebolaget LM Ericsson (publ) from $5.90 to $6.70 and gave the company a “neutral” rating in a research note on Monday. StockNews.com raised Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 16th.

Institutional Investors Weigh In On Telefonaktiebolaget LM Ericsson (publ)

A number of hedge funds have recently made changes to their positions in ERIC. B. Riley Wealth Advisors Inc. bought a new stake in Telefonaktiebolaget LM Ericsson (publ) during the fourth quarter worth about $506,000. Nomura Holdings Inc. acquired a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the 4th quarter worth approximately $384,000. NBC Securities Inc. boosted its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 258.1% in the 1st quarter. NBC Securities Inc. now owns 10,744 shares of the communications equipment provider’s stock worth $59,000 after acquiring an additional 7,744 shares in the last quarter. Aprio Wealth Management LLC grew its position in Telefonaktiebolaget LM Ericsson (publ) by 17.5% during the 1st quarter. Aprio Wealth Management LLC now owns 17,547 shares of the communications equipment provider’s stock worth $97,000 after acquiring an additional 2,609 shares during the last quarter. Finally, First Affirmative Financial Network increased its holdings in Telefonaktiebolaget LM Ericsson (publ) by 9.4% during the 1st quarter. First Affirmative Financial Network now owns 26,354 shares of the communications equipment provider’s stock valued at $145,000 after purchasing an additional 2,268 shares in the last quarter. Institutional investors and hedge funds own 7.99% of the company’s stock.

Telefonaktiebolaget LM Ericsson (publ) Trading Down 0.4 %

Shares of Telefonaktiebolaget LM Ericsson (publ) stock opened at $8.43 on Friday. Telefonaktiebolaget LM Ericsson has a 52-week low of $4.33 and a 52-week high of $8.62. The firm has a market capitalization of $28.09 billion, a PE ratio of -8.52 and a beta of 0.83. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.14 and a quick ratio of 0.90. The company’s fifty day moving average price is $7.53 and its two-hundred day moving average price is $6.51.

About Telefonaktiebolaget LM Ericsson (publ)

Telefonaktiebolaget LM Ericsson (publ), together with its subsidiaries, provides mobile connectivity solutions for telcom operators and enterprise customers in various sectors in North America, Europe, Latin America, the Middle East, Africa, North East Asia, South East Asia, Oceania, and India. It operates in four segments: Networks; Cloud Software and Services; Enterprise; and Other.