Infinera Co. (NASDAQ:INFN) Receives Consensus Rating of “Hold” from Analysts

Infinera Co. (NASDAQ:INFN) has been given an average rating of “Hold” by the eight research firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, five have given a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $7.09.

Several research analysts have recently weighed in on INFN shares. JPMorgan Chase & Co. upped their target price on Infinera from $5.00 to $6.00 and gave the stock an “underweight” rating in a research note on Tuesday, August 6th. B. Riley reduced their target price on Infinera from $9.00 to $6.65 and set a “buy” rating for the company in a research note on Monday, August 5th. Rosenblatt Securities downgraded Infinera from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $8.00 to $6.65 in a research note on Monday, August 5th. Berenberg Bank raised Infinera to a “hold” rating in a research note on Monday, August 5th. Finally, StockNews.com downgraded Infinera from a “hold” rating to a “sell” rating in a research note on Monday, October 21st.

Institutional Trading of Infinera

Hedge funds and other institutional investors have recently modified their holdings of the stock. Olympiad Research LP purchased a new position in shares of Infinera during the 3rd quarter worth $1,388,000. Palumbo Wealth Management LLC grew its holdings in shares of Infinera by 8.4% during the 3rd quarter. Palumbo Wealth Management LLC now owns 23,954 shares of the communications equipment provider’s stock worth $162,000 after purchasing an additional 1,850 shares during the period. Creative Planning grew its holdings in shares of Infinera by 87.3% during the 3rd quarter. Creative Planning now owns 30,443 shares of the communications equipment provider’s stock worth $205,000 after purchasing an additional 14,193 shares during the period. Handelsbanken Fonder AB boosted its holdings in Infinera by 44.3% during the 3rd quarter. Handelsbanken Fonder AB now owns 83,406 shares of the communications equipment provider’s stock valued at $563,000 after acquiring an additional 25,600 shares during the period. Finally, SG Americas Securities LLC purchased a new position in Infinera during the 3rd quarter valued at about $556,000. 97.54% of the stock is owned by institutional investors and hedge funds.

Infinera Stock Performance

Shares of Infinera stock opened at $6.72 on Thursday. Infinera has a one year low of $2.98 and a one year high of $6.92. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.94 and a current ratio of 1.57. The company has a market capitalization of $1.58 billion, a PE ratio of -14.61 and a beta of 1.71. The company has a 50-day simple moving average of $6.59 and a two-hundred day simple moving average of $5.93.

Infinera (NASDAQ:INFN) last issued its earnings results on Friday, August 2nd. The communications equipment provider reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. Infinera had a negative return on equity of 31.63% and a negative net margin of 7.10%. The firm had revenue of $342.70 million for the quarter, compared to analyst estimates of $331.71 million. The company’s quarterly revenue was down 8.9% on a year-over-year basis. Research analysts expect that Infinera will post -0.17 EPS for the current fiscal year.

About Infinera

Infinera Corporation provides optical transport networking equipment, software, and services worldwide. The company's product portfolio includes Infinera Groove series for modular and sled-based platforms to support a various transport network applications; Infinera 7300 series, an SDN-ready coherent optical transport system; Infinera FlexILS open optical line system that connects various Infinera and third-party terminal equipment platforms over long-distance fiber optic cable providing switching, multiplexing, amplification, and management channels; and Infinera 7090 and 7100 series for transport platforms.