Analysts Set Infinera Co. (NASDAQ:INFN) Target Price at $7.09

Infinera Co. (NASDAQ:INFN) has received an average recommendation of “Hold” from the eight analysts that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $7.09.

Several research firms have recently weighed in on INFN. StockNews.com began coverage on shares of Infinera in a research report on Saturday. They set a “sell” rating for the company. Rosenblatt Securities downgraded Infinera from a “buy” rating to a “neutral” rating and reduced their target price for the company from $8.00 to $6.65 in a research note on Monday, August 5th. Berenberg Bank upgraded Infinera to a “hold” rating in a report on Monday, August 5th. Craig Hallum reaffirmed a “hold” rating and set a $6.65 target price (down from $12.00) on shares of Infinera in a research report on Monday, July 1st. Finally, JPMorgan Chase & Co. boosted their price target on shares of Infinera from $5.00 to $6.00 and gave the company an “underweight” rating in a research note on Tuesday, August 6th.

Infinera Stock Performance

NASDAQ INFN opened at $6.67 on Friday. Infinera has a fifty-two week low of $2.82 and a fifty-two week high of $6.92. The firm’s fifty day moving average price is $6.29 and its two-hundred day moving average price is $5.77. 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 stock has a market cap of $1.56 billion, a PE ratio of -19.62 and a beta of 1.72.

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

Institutional Investors Weigh In On Infinera

Several large investors have recently added to or reduced their stakes in the business. SageView Advisory Group LLC bought a new stake in Infinera in the 1st quarter worth approximately $39,000. EverSource Wealth Advisors LLC purchased a new position in Infinera during the 2nd quarter valued at about $104,000. Headlands Technologies LLC bought a new stake in Infinera in the second quarter worth $112,000. Algert Global LLC bought a new position in shares of Infinera during the second quarter valued at $128,000. Finally, Principal Financial Group Inc. raised its position in shares of Infinera by 16.2% in the 1st quarter. Principal Financial Group Inc. now owns 26,790 shares of the communications equipment provider’s stock worth $162,000 after purchasing an additional 3,725 shares during the last quarter. 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.