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

Shares of Infinera Co. (NASDAQ:INFN) have earned a consensus recommendation of “Hold” from the eight brokerages that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $7.09.

Several brokerages have recently weighed in on INFN. Rosenblatt Securities reiterated a “neutral” rating and issued a $6.65 price target on shares of Infinera in a report on Wednesday, November 6th. B. Riley lowered Infinera from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Finally, StockNews.com raised shares of Infinera from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Barrow Hanley Mewhinney & Strauss LLC lifted its position in shares of Infinera by 22.4% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 11,057,935 shares of the communications equipment provider’s stock worth $67,343,000 after purchasing an additional 2,025,658 shares during the period. Geode Capital Management LLC boosted its position in Infinera by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 4,829,486 shares of the communications equipment provider’s stock valued at $32,605,000 after acquiring an additional 47,925 shares in the last quarter. Hood River Capital Management LLC increased its holdings in shares of Infinera by 14.2% in the 2nd quarter. Hood River Capital Management LLC now owns 4,753,842 shares of the communications equipment provider’s stock valued at $28,951,000 after acquiring an additional 591,611 shares during the period. Citigroup Inc. raised its position in shares of Infinera by 2,104.8% in the 3rd quarter. Citigroup Inc. now owns 2,915,001 shares of the communications equipment provider’s stock worth $19,676,000 after acquiring an additional 2,782,789 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Infinera by 37.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,759,906 shares of the communications equipment provider’s stock worth $16,802,000 after purchasing an additional 748,155 shares during the last quarter. 97.54% of the stock is currently owned by institutional investors.

Infinera Stock Up 0.6 %

NASDAQ INFN opened at $6.59 on Tuesday. The company has a quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 4.98. Infinera has a 52 week low of $4.41 and a 52 week high of $6.92. The firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of -13.73 and a beta of 1.64. The company has a fifty day moving average of $6.60 and a two-hundred day moving average of $6.44.

Infinera (NASDAQ:INFN) last released its quarterly earnings results on Tuesday, November 5th. The communications equipment provider reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $354.40 million for the quarter, compared to analysts’ expectations of $401.96 million. On average, analysts predict that Infinera will post -0.33 earnings per share for the current 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.