Infinera Co. (NASDAQ:INFN) Given Average Recommendation of “Hold” by Brokerages

Infinera Co. (NASDAQ:INFN) has received an average recommendation of “Hold” from the eight brokerages that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $7.09.

Several research analysts have recently commented on INFN shares. Morgan Stanley lifted their price target on Infinera from $5.40 to $6.65 and gave the stock an “equal weight” rating in a report on Friday, June 28th. Rosenblatt Securities downgraded 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 research note on Monday, August 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of Infinera in a research report on Friday, June 28th. JPMorgan Chase & Co. lifted their target price on shares of Infinera from $5.00 to $6.00 and gave the company an “underweight” rating in a report on Tuesday, August 6th. Finally, StockNews.com assumed coverage on shares of Infinera in a research note on Saturday, October 5th. They set a “sell” rating on the stock.

Institutional Investors Weigh In On Infinera

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Handelsbanken Fonder AB increased its holdings in Infinera by 44.3% in the third quarter. Handelsbanken Fonder AB now owns 83,406 shares of the communications equipment provider’s stock valued at $563,000 after buying an additional 25,600 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Infinera in the third quarter valued at $556,000. Water Island Capital LLC acquired a new position in Infinera in the second quarter valued at $9,196,000. Algert Global LLC purchased a new position in shares of Infinera during the second quarter worth about $128,000. Finally, Shellback Capital LP purchased a new position in shares of Infinera during the second quarter worth about $5,874,000. 97.54% of the stock is currently owned by institutional investors and hedge funds.

Infinera Price Performance

Infinera stock opened at $6.63 on Friday. The company has a fifty day simple moving average of $6.31 and a 200-day simple moving average of $5.78. The company has a quick ratio of 0.94, a current ratio of 1.57 and a debt-to-equity ratio of 5.02. The firm has a market capitalization of $1.55 billion, a price-to-earnings ratio of -19.50 and a beta of 1.72. Infinera has a 52-week low of $2.82 and a 52-week high of $6.92.

Infinera (NASDAQ:INFN) last released its earnings results on Friday, August 2nd. The communications equipment provider reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. The business had revenue of $342.70 million for the quarter, compared to analyst estimates of $331.71 million. Infinera had a negative net margin of 7.10% and a negative return on equity of 31.63%. The firm’s revenue for the quarter was down 8.9% compared to the same quarter last year. On average, equities analysts anticipate that Infinera will post -0.17 EPS 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.