Infinera Co. (NASDAQ:INFN) Receives $7.09 Consensus Target Price from Analysts

Shares of Infinera Co. (NASDAQ:INFN) have been given a consensus rating of “Hold” by the eight research firms that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating on the company. The average 1 year target price among brokers that have covered the stock in the last year is $7.09.

A number of equities research analysts have commented on the company. B. Riley downgraded Infinera from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 6th. StockNews.com upgraded shares of Infinera from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. Finally, Rosenblatt Securities reissued a “neutral” rating and issued a $6.65 price target on shares of Infinera in a research report on Wednesday, November 6th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Quantbot Technologies LP purchased a new stake in Infinera during the third quarter worth approximately $40,000. EverSource Wealth Advisors LLC acquired a new position in shares of Infinera in the 2nd quarter valued at $104,000. Headlands Technologies LLC purchased a new position in shares of Infinera in the 2nd quarter valued at $112,000. Algert Global LLC acquired a new stake in Infinera during the 2nd quarter worth $128,000. Finally, Palumbo Wealth Management LLC lifted its position 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 acquiring an additional 1,850 shares during the last quarter. 97.54% of the stock is owned by institutional investors and hedge funds.

Infinera Stock Performance

NASDAQ:INFN opened at $6.62 on Friday. The company has a market cap of $1.57 billion, a P/E ratio of -13.79 and a beta of 1.67. The company’s 50-day moving average price is $6.66 and its 200-day moving average price is $6.29. Infinera has a twelve month low of $4.18 and a twelve month high of $6.92. The company has a current ratio of 1.58, a quick ratio of 0.97 and a debt-to-equity ratio of 4.98.

Infinera (NASDAQ:INFN) last issued its earnings results on Tuesday, November 5th. The communications equipment provider reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.07). Infinera had a negative return on equity of 45.12% and a negative net margin of 7.62%. The company had revenue of $354.40 million during the quarter, compared to analyst estimates of $401.96 million. On average, sell-side analysts forecast that Infinera will post -0.25 earnings per share 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.