Bank of America Corporation Downgrades Juniper Networks, Inc. (JNPR) to Neutral

Juniper Networks, Inc. (NYSE:JNPR) was downgraded by analysts at Bank of America Corporation from a “buy” rating to a “neutral” rating in a report released on Wednesday.

JNPR has been the subject of several other reports. Zacks Investment Research raised Juniper Networks from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a research note on Friday, July 28th. BidaskClub raised Juniper Networks from a “sell” rating to a “hold” rating in a research note on Thursday, October 5th. Raymond James Financial, Inc. raised Juniper Networks from a “market perform” rating to an “outperform” rating and set a $34.00 price objective for the company in a research note on Friday, July 21st. BMO Capital Markets reaffirmed a “buy” rating and issued a $34.00 price objective on shares of Juniper Networks in a research note on Wednesday, August 23rd. Finally, Instinet reaffirmed a “buy” rating and issued a $33.00 price objective on shares of Juniper Networks in a research note on Tuesday, July 4th. Three equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $30.36.

Juniper Networks (NYSE:JNPR) last released its quarterly earnings data on Tuesday, July 25th. The network equipment provider reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.03. Juniper Networks had a return on equity of 14.13% and a net margin of 12.66%. The firm had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same period last year, the business posted $0.50 EPS. Juniper Networks’s quarterly revenue was up 7.2% on a year-over-year basis.

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In other news, VP Terrance F. Spidell sold 3,313 shares of Juniper Networks stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $27.69, for a total transaction of $91,736.97. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Vincent Molinaro sold 5,031 shares of Juniper Networks stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $30.00, for a total value of $150,930.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 35,044 shares of company stock worth $974,774. Corporate insiders own 3.40% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in JNPR. JPMorgan Chase & Co. increased its holdings in Juniper Networks by 376.4% in the first quarter. JPMorgan Chase & Co. now owns 864,754 shares of the network equipment provider’s stock valued at $24,066,000 after buying an additional 683,217 shares during the last quarter. Victory Capital Management Inc. increased its holdings in Juniper Networks by 27.7% in the first quarter. Victory Capital Management Inc. now owns 45,553 shares of the network equipment provider’s stock valued at $1,268,000 after buying an additional 9,873 shares during the last quarter. BB&T Securities LLC bought a new stake in Juniper Networks in the first quarter valued at about $239,000. OppenheimerFunds Inc. increased its holdings in Juniper Networks by 11.0% in the first quarter. OppenheimerFunds Inc. now owns 22,288 shares of the network equipment provider’s stock valued at $620,000 after buying an additional 2,214 shares during the last quarter. Finally, Principal Financial Group Inc. increased its holdings in Juniper Networks by 9.4% in the first quarter. Principal Financial Group Inc. now owns 643,165 shares of the network equipment provider’s stock valued at $17,899,000 after buying an additional 55,120 shares during the last quarter. 90.16% of the stock is currently owned by institutional investors and hedge funds.

Juniper Networks Company Profile

Juniper Networks, Inc designs, develops and sells products and services for high-performance networks to enable customers to build networks for their businesses. The Company sells its products in over 100 countries in three geographic regions: Americas; Europe, the Middle East and Africa, and Asia Pacific.

Analyst Recommendations for Juniper Networks (NYSE:JNPR)

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