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

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

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

Infinera Stock Up 0.6 %

Shares of NASDAQ INFN opened at $6.60 on Friday. The company has a quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 4.98. The company has a market cap of $1.56 billion, a price-to-earnings ratio of -13.75 and a beta of 1.67. Infinera has a 12-month low of $4.18 and a 12-month high of $6.92. The firm’s 50-day simple moving average is $6.66 and its 200 day simple moving average is $6.27.

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 the consensus estimate of $0.01 by ($0.07). Infinera had a negative net margin of 7.62% and a negative return on equity of 45.12%. The company had revenue of $354.40 million for the quarter, compared to the consensus estimate of $401.96 million. On average, research analysts expect that Infinera will post -0.25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Infinera

Several hedge funds have recently bought and sold shares of the company. Quantbot Technologies LP bought a new stake in shares of Infinera in the 3rd quarter valued at $40,000. EverSource Wealth Advisors LLC acquired a new stake in shares of Infinera during the second quarter worth about $104,000. Headlands Technologies LLC bought a new position in shares of Infinera during the 2nd quarter valued at about $112,000. Algert Global LLC bought a new position in shares of Infinera during the 2nd quarter valued at about $128,000. Finally, Palumbo Wealth Management LLC lifted its stake in Infinera by 8.4% in the third quarter. Palumbo Wealth Management LLC now owns 23,954 shares of the communications equipment provider’s stock valued at $162,000 after buying an additional 1,850 shares in the last quarter. 97.54% of the stock is currently owned by institutional investors and hedge funds.

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.