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

Shares of Infinera Co. (NASDAQ:INFN) have been assigned an average recommendation of “Hold” from the eight brokerages that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and one has given a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $7.09.

Separately, StockNews.com initiated coverage on Infinera in a report on Wednesday. They set a “hold” rating on the stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Russell Investments Group Ltd. increased its stake in Infinera by 1.9% in the fourth quarter. Russell Investments Group Ltd. now owns 110,687 shares of the communications equipment provider’s stock valued at $727,000 after purchasing an additional 2,097 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Infinera by 3.0% during the 4th quarter. Victory Capital Management Inc. now owns 130,242 shares of the communications equipment provider’s stock valued at $856,000 after acquiring an additional 3,776 shares during the last quarter. Mariner LLC lifted its holdings in shares of Infinera by 23.2% during the 4th quarter. Mariner LLC now owns 23,450 shares of the communications equipment provider’s stock worth $154,000 after acquiring an additional 4,422 shares during the period. Nuveen Asset Management LLC lifted its holdings in shares of Infinera by 0.8% during the 4th quarter. Nuveen Asset Management LLC now owns 637,922 shares of the communications equipment provider’s stock worth $4,191,000 after acquiring an additional 5,061 shares during the period. Finally, Vestcor Inc acquired a new stake in shares of Infinera in the fourth quarter worth approximately $34,000. Hedge funds and other institutional investors own 97.54% of the company’s stock.

Infinera Price Performance

Infinera stock opened at $6.64 on Wednesday. The firm has a market capitalization of $1.57 billion, a price-to-earnings ratio of -13.83 and a beta of 1.63. Infinera has a fifty-two week low of $4.41 and a fifty-two week high of $6.92. The stock’s fifty day moving average is $6.63 and its two-hundred day moving average is $6.62. The company has a debt-to-equity ratio of 4.98, a quick ratio of 0.97 and a current ratio of 1.58.

Infinera (NASDAQ:INFN) last announced its quarterly earnings results on Thursday, March 6th. The communications equipment provider reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.15). Infinera had a negative net margin of 7.62% and a negative return on equity of 45.12%. The business had revenue of $414.39 million during the quarter, compared to analysts’ expectations of $409.08 million. Analysts predict that Infinera will post -0.33 EPS for the current fiscal 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.