Brokerages Set Infinera Co. (NASDAQ:INFN) PT at $7.09

Infinera Co. (NASDAQ:INFN) has received a consensus recommendation of “Hold” from the eight research firms that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $7.09.

A number of brokerages have commented on INFN. Berenberg Bank upgraded Infinera to a “hold” rating in a research report on Monday, August 5th. Rosenblatt Securities cut shares of Infinera from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $8.00 to $6.65 in a report on Monday, August 5th. StockNews.com upgraded shares of Infinera from a “sell” rating to a “hold” rating in a research note on Sunday. B. Riley decreased their target price on shares of Infinera from $9.00 to $6.65 and set a “buy” rating for the company in a research note on Monday, August 5th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Infinera in a research note on Friday, June 28th.

Infinera Stock Performance

Infinera stock 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 50 day simple moving average is $6.33 and its 200-day simple moving average is $5.80. The company has a debt-to-equity ratio of 5.02, a current ratio of 1.57 and a quick ratio of 0.94. The company has a market cap of $1.56 billion, a P/E ratio of -19.62 and a beta of 1.72.

Infinera (NASDAQ:INFN) last posted 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 firm 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%. Infinera’s revenue was down 8.9% on a year-over-year basis. As a group, equities research analysts predict that Infinera will post -0.17 EPS for the current year.

Hedge Funds Weigh In On Infinera

Several hedge funds have recently bought and sold shares of INFN. SageView Advisory Group LLC acquired a new stake in shares of Infinera in the first quarter worth about $39,000. EverSource Wealth Advisors LLC bought a new stake in Infinera during the second quarter worth approximately $104,000. Headlands Technologies LLC acquired a new position in Infinera during the second quarter valued at approximately $112,000. Algert Global LLC bought a new position in shares of Infinera in the second quarter valued at approximately $128,000. Finally, Principal Financial Group Inc. lifted its stake in shares of Infinera by 16.2% in the first quarter. Principal Financial Group Inc. now owns 26,790 shares of the communications equipment provider’s stock worth $162,000 after buying an additional 3,725 shares during the last quarter. 97.54% of the stock is owned by institutional investors and hedge funds.

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.