AudioCodes (AUDC) Rating Lowered to Hold at BidaskClub

AudioCodes (NASDAQ:AUDC) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Friday.

AUDC has been the topic of a number of other reports. Zacks Investment Research lowered AudioCodes from a “buy” rating to a “hold” rating in a research report on Tuesday, June 26th. ValuEngine upgraded AudioCodes from a “hold” rating to a “buy” rating in a research report on Tuesday, July 24th. Finally, Needham & Company LLC increased their price objective on AudioCodes from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Wednesday, July 25th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $10.00.

Shares of AUDC opened at $10.59 on Friday. The firm has a market capitalization of $300.56 million, a price-to-earnings ratio of 34.16 and a beta of 0.68. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.63 and a current ratio of 1.99. AudioCodes has a 52 week low of $6.15 and a 52 week high of $11.48.

AudioCodes (NASDAQ:AUDC) last announced its quarterly earnings data on Tuesday, July 24th. The communications equipment provider reported $0.14 EPS for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.05. The firm had revenue of $43.50 million for the quarter, compared to analyst estimates of $42.50 million. AudioCodes had a return on equity of 13.69% and a net margin of 3.93%.

Several large investors have recently bought and sold shares of the company. Renaissance Technologies LLC boosted its position in shares of AudioCodes by 2.2% in the 2nd quarter. Renaissance Technologies LLC now owns 211,600 shares of the communications equipment provider’s stock worth $1,646,000 after purchasing an additional 4,567 shares during the last quarter. ClariVest Asset Management LLC boosted its position in shares of AudioCodes by 10.9% in the 1st quarter. ClariVest Asset Management LLC now owns 73,276 shares of the communications equipment provider’s stock worth $524,000 after purchasing an additional 7,195 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its position in shares of AudioCodes by 65.6% in the 1st quarter. State of New Jersey Common Pension Fund D now owns 25,935 shares of the communications equipment provider’s stock worth $185,000 after purchasing an additional 10,271 shares during the last quarter. Trexquant Investment LP boosted its position in shares of AudioCodes by 37.4% in the 1st quarter. Trexquant Investment LP now owns 38,421 shares of the communications equipment provider’s stock worth $275,000 after purchasing an additional 10,461 shares during the last quarter. Finally, UBS Group AG boosted its position in shares of AudioCodes by 154.1% in the 1st quarter. UBS Group AG now owns 20,751 shares of the communications equipment provider’s stock worth $148,000 after purchasing an additional 12,585 shares during the last quarter. Institutional investors and hedge funds own 24.33% of the company’s stock.

AudioCodes Company Profile

AudioCodes Ltd. designs, develops, and sells voice over IP (VoIP), converged VoIP, and data networking products and applications for enterprise unified communications, contact centers, service provider business services, mobile VoIP, and cloud virtualized data centers worldwide. The company's products include IP phones, session border controllers (SBC), media gateways, multi-service business routers, huddle room solutions, managed IP Phones, and survivable branch appliances; CloudBond 365, an adaptable solution for the data center; CloudBond 365 CCE appliances; User Management Pack 365, a software management application; VoIP management and routing, a suite of lifecycle applications for large scale cloud or premises-based unified communications deployments; MobilityPLUS, a mobile VoIP solution; VocaNOM call routing products; SmartTAP call recording products; Auto Attendant, a tool for managing inbound calls and delivery services; Fax Server, a tool for managing inbound and outbound enterprise fax transmissions; SIP Phone Support, a value-added application for SBC and gateways; signal processor chips; communications boards; and voice and data logging hardware integration board products.

Further Reading: Fiduciary

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