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

Infinera Co. (NASDAQ:INFN) has received a consensus recommendation of “Hold” from the eight research firms that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $7.09.

Several equities research analysts have recently commented on the stock. B. Riley reduced their price target on shares of Infinera from $9.00 to $6.65 and set a “buy” rating for the company in a report on Monday, August 5th. Berenberg Bank upgraded shares of Infinera to a “hold” rating in a report on Monday, August 5th. Rosenblatt Securities lowered shares of Infinera from a “buy” rating to a “neutral” rating and reduced their price target for the company from $8.00 to $6.65 in a report on Monday, August 5th. StockNews.com lowered shares of Infinera from a “hold” rating to a “sell” rating in a report on Monday, October 21st. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Infinera from $5.00 to $6.00 and gave the stock an “underweight” rating in a research note on Tuesday, August 6th.

Infinera Price Performance

INFN stock opened at $6.74 on Thursday. Infinera has a 12 month low of $2.83 and a 12 month high of $6.92. The company has a current ratio of 1.57, a quick ratio of 0.94 and a debt-to-equity ratio of 5.02. The company has a 50-day moving average price of $6.57 and a 200 day moving average price of $5.90. The stock has a market cap of $1.58 billion, a PE ratio of -19.82 and a beta of 1.72.

Infinera (NASDAQ:INFN) last announced its quarterly earnings data on Friday, August 2nd. The communications equipment provider reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. Infinera had a negative net margin of 7.10% and a negative return on equity of 31.63%. The company had revenue of $342.70 million during the quarter, compared to analyst estimates of $331.71 million. The business’s revenue was down 8.9% compared to the same quarter last year. Equities research analysts anticipate that Infinera will post -0.17 earnings per share for the current year.

Institutional Trading of Infinera

Large investors have recently bought and sold shares of the stock. SageView Advisory Group LLC purchased a new stake in Infinera during the 1st quarter worth approximately $39,000. EverSource Wealth Advisors LLC purchased a new stake in Infinera during the 2nd quarter worth approximately $104,000. Headlands Technologies LLC purchased a new stake in Infinera during the 2nd quarter worth approximately $112,000. Algert Global LLC purchased a new stake in shares of Infinera in the 2nd quarter valued at $128,000. Finally, Palumbo Wealth Management LLC boosted its holdings in shares of Infinera by 8.4% in the 3rd 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. 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.