TheStreet Downgrades EXFO Inc (NASDAQ:EXFO) to C+
EXFO Inc (NASDAQ:EXFO) (TSE:EXF) was downgraded by investment analysts at TheStreet from a “b” rating to a “c+” rating in a note issued to investors on Friday.
A number of other brokerages have also weighed in on EXFO. Canaccord Genuity restated a “hold” rating and issued a $5.75 price objective on shares of EXFO in a report on Tuesday, May 2nd. Northland Securities set a $6.00 target price on shares of EXFO and gave the stock a “buy” rating in a research report on Saturday, July 1st. BMO Capital Markets set a $6.00 target price on shares of EXFO and gave the stock a “hold” rating in a research report on Saturday, July 1st. Zacks Investment Research raised shares of EXFO from a “sell” rating to a “hold” rating in a research report on Monday, April 10th. Finally, National Bank Financial reaffirmed a “sector perform” rating and issued a $5.50 target price on shares of EXFO in a research report on Wednesday, April 19th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. EXFO has a consensus rating of “Hold” and an average target price of $5.63.
EXFO (NASDAQ EXFO) remained flat at $4.45 during trading on Friday. 12,471 shares of the company traded hands. The firm has a 50-day moving average price of $5.02 and a 200-day moving average price of $5.04. EXFO has a 12-month low of $3.14 and a 12-month high of $6.15. The company has a market cap of $243.43 million, a P/E ratio of 111.25 and a beta of 0.57.
EXFO (NASDAQ:EXFO) (TSE:EXF) last announced its quarterly earnings data on Thursday, June 29th. The communications equipment provider reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by $0.06. EXFO had a return on equity of 2.76% and a net margin of 0.93%. The firm had revenue of $58.50 million during the quarter, compared to analysts’ expectations of $61.61 million. The business’s quarterly revenue was down 3.8% on a year-over-year basis.
Several large investors have recently modified their holdings of the stock. Renaissance Technologies LLC increased its stake in shares of EXFO by 11.8% in the first quarter. Renaissance Technologies LLC now owns 1,537,890 shares of the communications equipment provider’s stock worth $7,997,000 after buying an additional 162,510 shares during the last quarter. Hillsdale Investment Management Inc. increased its stake in shares of EXFO by 20.7% in the first quarter. Hillsdale Investment Management Inc. now owns 187,000 shares of the communications equipment provider’s stock worth $980,000 after buying an additional 32,100 shares during the last quarter. TD Asset Management Inc. acquired a new stake in shares of EXFO during the first quarter worth about $1,105,000. Finally, Acadian Asset Management LLC increased its stake in shares of EXFO by 1,114.1% in the first quarter. Acadian Asset Management LLC now owns 86,200 shares of the communications equipment provider’s stock worth $451,000 after buying an additional 79,100 shares during the last quarter. 16.79% of the stock is owned by hedge funds and other institutional investors.
EXFO Company Profile
EXFO Inc is a Canada-based company, which provides communications service providers (CSPs) and data center, cloud and Web-scale operators with field test, service assurance and analytics solutions to ensure the deployment, maintenance and management of physical, virtual, fixed and mobile networks. It focuses on network infrastructures: fourth generation (4G)/long-term evolution (LTE), wireless backhaul, small cells and distributed antenna systems (DAS), 100G network upgrades and fiber-to-the-home (FTTH)/fiber-to-the-curb (FTTC)/fiber-to-the-node (FTTN) deployments.
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