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

Shares of Infinera Co. (NASDAQ:INFN) have earned an average recommendation of “Hold” from the eight ratings firms that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $7.09.

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

Institutional Investors Weigh In On Infinera

A number of institutional investors have recently made changes to their positions in the stock. Tidal Investments LLC increased its stake in Infinera by 4.9% in the third quarter. Tidal Investments LLC now owns 128,883 shares of the communications equipment provider’s stock valued at $870,000 after purchasing an additional 6,066 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Infinera by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 4,829,486 shares of the communications equipment provider’s stock valued at $32,605,000 after buying an additional 47,925 shares during the period. Sand Grove Capital Management LLP bought a new stake in shares of Infinera in the 3rd quarter valued at $12,517,000. Janus Henderson Group PLC raised its stake in Infinera by 332.0% during the 3rd quarter. Janus Henderson Group PLC now owns 350,520 shares of the communications equipment provider’s stock worth $2,364,000 after buying an additional 269,372 shares during the period. Finally, Bardin Hill Management Partners LP bought a new position in Infinera during the third quarter worth about $1,576,000. 97.54% of the stock is owned by institutional investors and hedge funds.

Infinera Stock Performance

Shares of NASDAQ INFN opened at $6.61 on Monday. The business has a 50 day simple moving average of $6.71 and a 200 day simple moving average of $6.15. Infinera has a 52 week low of $3.79 and a 52 week high of $6.92. The stock has a market cap of $1.57 billion, a price-to-earnings ratio of -13.77 and a beta of 1.71. The company has a debt-to-equity ratio of 4.98, a quick ratio of 0.97 and a current ratio of 1.58.

Infinera (NASDAQ:INFN) last posted its earnings results on Tuesday, November 5th. The communications equipment provider reported ($0.06) earnings per share for the quarter, missing the consensus estimate 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, research analysts predict that Infinera will post -0.25 earnings per share for the current fiscal year.

Infinera Company Profile

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.