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

Shares of Infinera Co. (NASDAQ:INFN) have received a consensus rating of “Hold” from the eight research firms that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $7.09.

Several equities research analysts have issued reports on the stock. StockNews.com upgraded shares of Infinera from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. Rosenblatt Securities reissued a “neutral” rating and set a $6.65 price target on shares of Infinera in a research report on Wednesday, November 6th. 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 Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of INFN. Bank of New York Mellon Corp increased its position in Infinera by 9.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 829,261 shares of the communications equipment provider’s stock worth $5,050,000 after buying an additional 70,450 shares during the period. DDD Partners LLC raised its stake in Infinera by 139.9% in the 2nd quarter. DDD Partners LLC now owns 71,244 shares of the communications equipment provider’s stock worth $434,000 after purchasing an additional 41,550 shares in the last quarter. Rhumbline Advisers boosted its holdings in Infinera by 6.7% in the 2nd quarter. Rhumbline Advisers now owns 295,585 shares of the communications equipment provider’s stock valued at $1,800,000 after purchasing an additional 18,598 shares during the period. Victory Capital Management Inc. grew its position in shares of Infinera by 7.9% during the 2nd quarter. Victory Capital Management Inc. now owns 144,794 shares of the communications equipment provider’s stock worth $882,000 after purchasing an additional 10,546 shares in the last quarter. Finally, Arizona State Retirement System increased its holdings in shares of Infinera by 3.9% during the second quarter. Arizona State Retirement System now owns 58,308 shares of the communications equipment provider’s stock worth $355,000 after purchasing an additional 2,180 shares during the period. Institutional investors and hedge funds own 97.54% of the company’s stock.

Infinera Stock Performance

Shares of Infinera stock opened at $6.60 on Friday. The company has a debt-to-equity ratio of 4.98, a current ratio of 1.58 and a quick ratio of 0.97. The firm has a market cap of $1.56 billion, a price-to-earnings ratio of -13.75 and a beta of 1.67. Infinera has a one year low of $4.18 and a one year high of $6.92. The stock’s 50-day moving average is $6.66 and its 200-day moving average is $6.27.

Infinera (NASDAQ:INFN) last issued its quarterly 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 business had revenue of $354.40 million for the quarter, compared to the consensus estimate of $401.96 million. Equities analysts predict 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.