Ciber Inc. (CBR) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research downgraded shares of Ciber Inc. (NYSE:CBR) from a hold rating to a strong sell rating in a report released on Tuesday.

According to Zacks, “CIBER is a recognized leader in providing innovative IT solutions and partnering with customers to leverage technology in today’s e.Business-driven marketplace. The company delivers e.Business solutions to help organizations gain knowledge from the market, create value for their customers, reduce time and cost across the supply chain, and drive global competitive advantage. The company combines its broad array of in-depth business and technical expertise to create solutions that solve an enterprise’s complex requirements. “

Separately, B. Riley reaffirmed a neutral rating and set a $1.00 price objective on shares of Ciber in a research note on Tuesday, August 9th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $2.33.

Ciber (NYSE:CBR) opened at 1.10 on Tuesday. The firm’s market cap is $89.34 million. Ciber has a 52-week low of $0.93 and a 52-week high of $3.90. The company’s 50 day moving average price is $1.23 and its 200 day moving average price is $1.51.

Ciber (NYSE:CBR) last issued its quarterly earnings data on Thursday, August 4th. The company reported ($0.27) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by $0.23. Ciber had a negative return on equity of 11.61% and a negative net margin of 20.66%. Analysts predict that Ciber will post ($0.49) earnings per share for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. purchased a new stake in Ciber during the second quarter valued at about $109,000. Alpine Partners VI LLC purchased a new stake in Ciber during the second quarter valued at about $156,000. A.R.T. Advisors LLC purchased a new stake in Ciber during the second quarter valued at about $195,000. Ancora Advisors LLC increased its stake in Ciber by 332.0% in the second quarter. Ancora Advisors LLC now owns 216,000 shares of the company’s stock valued at $324,000 after buying an additional 166,000 shares in the last quarter. Finally, Laurion Capital Management LP purchased a new stake in Ciber during the second quarter valued at about $358,000. 61.95% of the stock is currently owned by hedge funds and other institutional investors.

About Ciber

Ciber, Inc (Ciber) is a global information technology (IT) services company. The Company operates in two segments: North America and International. Its Ciber International segment primarily consists of countries in Western Europe and the Nordic region. Its North America segment is organized into service offerings, which include Independent Software Vendor Relationships (ISV)/Channel Partner Platforms, Managed Services, Business Consulting, Application Development and Management (ADM)/Staffing, and Software-as-a-Service (SaaS).

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