Infinera Co. (NASDAQ:INFN) Receives Average Recommendation of “Hold” from Brokerages

Infinera Co. (NASDAQ:INFN) has earned a consensus rating of “Hold” from the eight brokerages that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $7.09.

Several brokerages have recently weighed in on INFN. Berenberg Bank upgraded Infinera to a “hold” rating in a report on Monday, August 5th. StockNews.com raised shares of Infinera from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. B. Riley cut shares of Infinera from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Rosenblatt Securities reissued a “neutral” rating and issued a $6.65 target price on shares of Infinera in a research report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. raised their price target on Infinera from $5.00 to $6.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 6th.

Infinera Price Performance

Infinera stock opened at $6.64 on Monday. The company has a debt-to-equity ratio of 4.98, a quick ratio of 0.97 and a current ratio of 1.58. The company’s fifty day moving average price is $6.71 and its 200 day moving average price is $6.11. The stock has a market capitalization of $1.57 billion, a P/E ratio of -13.83 and a beta of 1.71. Infinera has a 1 year low of $3.79 and a 1 year high of $6.92.

Infinera (NASDAQ:INFN) last announced its earnings results on Tuesday, November 5th. The communications equipment provider reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.07). The business had revenue of $354.40 million for the quarter, compared to analyst estimates of $401.96 million. Infinera had a negative return on equity of 45.12% and a negative net margin of 7.62%. As a group, equities research analysts anticipate that Infinera will post -0.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Infinera

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Quantbot Technologies LP acquired a new stake in Infinera in the third quarter valued at approximately $40,000. EverSource Wealth Advisors LLC purchased a new stake in shares of Infinera during the 2nd quarter worth $104,000. Headlands Technologies LLC acquired a new position in shares of Infinera during the second quarter worth $112,000. Algert Global LLC purchased a new position in Infinera in the second quarter valued at $128,000. Finally, Palumbo Wealth Management LLC raised its stake in Infinera by 8.4% in the third quarter. Palumbo Wealth Management LLC now owns 23,954 shares of the communications equipment provider’s stock valued at $162,000 after buying an additional 1,850 shares in the last quarter. Hedge funds and other institutional investors own 97.54% of the company’s stock.

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.