Raymond James Reaffirms Their Buy Rating on Iridium Communications (IRDM)


In a report released today, Ric Prentiss from Raymond James maintained a Buy rating on Iridium Communications (NASDAQ: IRDM), with a price target of $23. The company’s shares closed yesterday at $20.46.

Prentiss has an average return of 48.5% when recommending Iridium Communications.

According to TipRanks.com, Prentiss is ranked #4339 out of 4909 analysts.

Iridium Communications has an analyst consensus of Moderate Sell, with a price target consensus of $14.

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Iridium Communications’ market cap is currently $2.27B and has a P/E ratio of 15.27. The company has a Price to Book ratio of 1.41.

Based on the recent corporate insider activity of 53 insiders, corporate insider sentiment is negative on the stock. Most recently, in August 2018, Scott S. Smith, the COO of IRDM sold 27,761 shares for a total of $570,489.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Iridium Communications, Inc. is a mobile voice and data satellite communications network. Its satellite network provides communication where terrestrial wireless or wireline networks do not exist or are limited. The company’s current principal lines of business include Land Mobile, Maritime, Aviation, and Government.

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