Sidoti Initiates Coverage on AudioCodes (NASDAQ:AUDC)

Sidoti started coverage on shares of AudioCodes (NASDAQ:AUDC) in a research report sent to investors on Thursday morning, The Fly reports. The firm issued a buy rating and a $34.00 target price on the communications equipment provider’s stock.

Several other research firms also recently issued reports on AUDC. BidaskClub upgraded shares of AudioCodes from a hold rating to a buy rating in a report on Friday, December 13th. ValuEngine downgraded shares of AudioCodes from a hold rating to a sell rating in a report on Tuesday, December 3rd.

AUDC traded down $0.69 during trading on Thursday, hitting $27.46. The stock had a trading volume of 238,540 shares, compared to its average volume of 198,010. The firm has a market cap of $821.29 million, a PE ratio of 49.93 and a beta of 0.59. AudioCodes has a 12 month low of $12.19 and a 12 month high of $28.58. The company has a current ratio of 1.79, a quick ratio of 1.36 and a debt-to-equity ratio of 0.25. The company has a 50 day simple moving average of $25.22 and a 200-day simple moving average of $20.45.

AudioCodes (NASDAQ:AUDC) last announced its earnings results on Tuesday, October 29th. The communications equipment provider reported $0.24 EPS for the quarter, topping the consensus estimate of $0.20 by $0.04. AudioCodes had a net margin of 8.66% and a return on equity of 23.08%. The firm had revenue of $51.41 million for the quarter.

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of AudioCodes by 0.6% during the 2nd quarter. Vanguard Group Inc. now owns 482,435 shares of the communications equipment provider’s stock worth $7,468,000 after purchasing an additional 2,762 shares during the period. Phoenix Holdings Ltd. bought a new position in shares of AudioCodes during the 3rd quarter worth about $6,142,000. Victory Capital Management Inc. bought a new position in shares of AudioCodes during the 2nd quarter worth about $2,548,000. United Services Automobile Association increased its holdings in shares of AudioCodes by 14.1% during the 2nd quarter. United Services Automobile Association now owns 108,596 shares of the communications equipment provider’s stock worth $1,681,000 after purchasing an additional 13,434 shares during the period. Finally, Squarepoint Ops LLC increased its stake in AudioCodes by 105.1% in the third quarter. Squarepoint Ops LLC now owns 73,622 shares of the communications equipment provider’s stock valued at $1,392,000 after acquiring an additional 37,722 shares during the period. Institutional investors own 32.35% of the company’s stock.

About AudioCodes

AudioCodes Ltd. designs, develops, and sells voice over IP (VoIP), converged VoIP, and data networking solutions, 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, customer premises or the branch; 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.

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