Infinera (NASDAQ:INFN) Stock Rating Reaffirmed by Rosenblatt Securities

Infinera (NASDAQ:INFN)‘s stock had its “hold” rating reiterated by investment analysts at Rosenblatt Securities in a note issued to investors on Wednesday, AnalystRatings.com reports. They presently have a $6.00 target price on the communications equipment provider’s stock. Rosenblatt Securities’ price target indicates a potential downside of 10.58% from the stock’s current price.

INFN has been the subject of a number of other reports. Jefferies Financial Group cut shares of Infinera from a “hold” rating to an “underperform” rating in a research note on Thursday, November 7th. B. Riley set a $8.00 price objective on shares of Infinera and gave the stock a “buy” rating in a research note on Friday, October 25th. Needham & Company LLC reissued a “buy” rating and issued a $9.00 price objective on shares of Infinera in a research note on Monday, September 30th. Zacks Investment Research cut shares of Infinera from a “hold” rating to a “sell” rating in a research note on Tuesday, August 13th. Finally, Raymond James raised shares of Infinera from an “underperform” rating to a “market perform” rating in a research note on Thursday, August 8th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $6.93.

INFN stock traded up $0.35 on Wednesday, hitting $6.71. The company had a trading volume of 5,270,900 shares, compared to its average volume of 2,889,279. The stock has a market cap of $1.15 billion, a price-to-earnings ratio of -10.48 and a beta of 0.54. The stock’s 50-day simple moving average is $5.50 and its 200 day simple moving average is $4.30. Infinera has a 12-month low of $2.80 and a 12-month high of $6.75. The company has a current ratio of 1.47, a quick ratio of 0.91 and a debt-to-equity ratio of 0.90.

Infinera (NASDAQ:INFN) last issued its quarterly earnings data on Tuesday, November 12th. The communications equipment provider reported ($0.17) EPS for the quarter, hitting analysts’ consensus estimates of ($0.17). Infinera had a negative net margin of 36.15% and a negative return on equity of 34.56%. The business had revenue of $325.34 million during the quarter, compared to analysts’ expectations of $327.09 million. During the same period last year, the company posted ($0.04) EPS. The business’s revenue was up 62.3% on a year-over-year basis. Research analysts forecast that Infinera will post -0.9 earnings per share for the current year.

Hedge funds have recently added to or reduced their stakes in the stock. Atria Investments LLC purchased a new position in shares of Infinera during the 2nd quarter worth about $1,328,000. Paradigm Capital Management Inc. NY boosted its stake in shares of Infinera by 45.3% during the 2nd quarter. Paradigm Capital Management Inc. NY now owns 1,198,000 shares of the communications equipment provider’s stock worth $3,486,000 after purchasing an additional 373,700 shares during the period. King Luther Capital Management Corp purchased a new position in shares of Infinera during the 2nd quarter worth about $407,000. Rhumbline Advisers boosted its stake in shares of Infinera by 9.5% during the 3rd quarter. Rhumbline Advisers now owns 268,812 shares of the communications equipment provider’s stock worth $1,465,000 after purchasing an additional 23,405 shares during the period. Finally, Bank of Montreal Can boosted its stake in shares of Infinera by 8.9% during the 2nd quarter. Bank of Montreal Can now owns 790,408 shares of the communications equipment provider’s stock worth $2,300,000 after purchasing an additional 64,699 shares during the period. 79.14% of the stock is owned by hedge funds and other institutional investors.

Infinera Company Profile

Infinera Corporation provides optical transport networking equipment and software and services worldwide. The company's product portfolio consists of Infinera DTN-X Family of terabit-class transport network platforms, including the XTC Series, XTS Series, and XT Series; Infinera DTN-X XTC series multi-terabit packet optical transport platforms that integrate digital OTN switching and optical WDM transmission; and Infinera DTN-X XT series for terrestrial applications and XTS series for subsea applications.

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Analyst Recommendations for Infinera (NASDAQ:INFN)

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