Telefonaktiebolaget LM Ericsson (ERIC) Downgraded by BidaskClub

BidaskClub lowered shares of Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) from a buy rating to a hold rating in a report released on Tuesday morning.

A number of other analysts have also commented on the company. JPMorgan Chase & Co. raised Telefonaktiebolaget LM Ericsson from a neutral rating to an overweight rating in a report on Wednesday, September 5th. Zacks Investment Research raised Telefonaktiebolaget LM Ericsson from a hold rating to a buy rating and set a $9.75 price objective for the company in a report on Wednesday, September 19th. Canaccord Genuity boosted their price objective on Telefonaktiebolaget LM Ericsson from $8.50 to $9.00 and gave the stock a hold rating in a report on Friday, September 28th. Bank of America boosted their price objective on Telefonaktiebolaget LM Ericsson from $8.50 to $8.70 and gave the stock a neutral rating in a report on Thursday, September 13th. Finally, Credit Suisse Group raised Telefonaktiebolaget LM Ericsson from an underperform rating to a hold rating and boosted their price objective for the stock from $7.19 to $8.00 in a report on Wednesday, September 19th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $8.49.

Shares of ERIC opened at $8.57 on Tuesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.52 and a quick ratio of 1.22. Telefonaktiebolaget LM Ericsson has a 52 week low of $5.84 and a 52 week high of $9.45.

Several hedge funds have recently added to or reduced their stakes in ERIC. JPMorgan Chase & Co. grew its holdings in shares of Telefonaktiebolaget LM Ericsson by 42,991.8% in the first quarter. JPMorgan Chase & Co. now owns 501,158 shares of the communications equipment provider’s stock valued at $3,208,000 after acquiring an additional 499,995 shares in the last quarter. CIBC World Markets Inc. bought a new position in shares of Telefonaktiebolaget LM Ericsson in the first quarter valued at approximately $255,000. Fox Run Management L.L.C. bought a new position in shares of Telefonaktiebolaget LM Ericsson in the second quarter valued at approximately $175,000. Eqis Capital Management Inc. grew its holdings in shares of Telefonaktiebolaget LM Ericsson by 60.8% in the second quarter. Eqis Capital Management Inc. now owns 248,273 shares of the communications equipment provider’s stock valued at $1,904,000 after acquiring an additional 93,838 shares in the last quarter. Finally, Commonwealth Equity Services LLC grew its holdings in shares of Telefonaktiebolaget LM Ericsson by 96.2% in the second quarter. Commonwealth Equity Services LLC now owns 36,126 shares of the communications equipment provider’s stock valued at $277,000 after acquiring an additional 17,716 shares in the last quarter. 8.18% of the stock is owned by institutional investors.

Telefonaktiebolaget LM Ericsson Company Profile

Telefonaktiebolaget LM Ericsson (publ) provides information and communications technology solutions for networks, IT and cloud, and media markets worldwide. It operates through four segments: Networks, Digital Services, Managed Services, 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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