Northland Securities Analysts Give Westell Technologies, Inc. (WSTL) a $6.00 Price Target
Westell Technologies, Inc. (NASDAQ:WSTL) has been assigned a $6.00 price target by analysts at Northland Securities in a research note issued to investors on Friday. The firm presently has a “buy” rating on the communications equipment provider’s stock. Northland Securities’ price target suggests a potential upside of 98.68% from the company’s current price.
A number of other equities analysts have also recently weighed in on WSTL. Zacks Investment Research cut shares of Westell Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, April 13th. ValuEngine raised shares of Westell Technologies from a “strong sell” rating to a “sell” rating in a research report on Wednesday, May 31st.
Shares of Westell Technologies (WSTL) opened at 3.02 on Friday. Westell Technologies has a 12 month low of $1.76 and a 12 month high of $3.80. The firm’s market cap is $46.70 million. The stock’s 50 day moving average price is $3.20 and its 200-day moving average price is $2.87.
Westell Technologies (NASDAQ:WSTL) last announced its quarterly earnings results on Wednesday, August 9th. The communications equipment provider reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by $0.01. The firm had revenue of $16.57 million for the quarter, compared to the consensus estimate of $15.36 million. Westell Technologies had a negative return on equity of 1.06% and a negative net margin of 13.51%. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.06) earnings per share. Equities research analysts anticipate that Westell Technologies will post $0.04 earnings per share for the current fiscal year.
Westell Technologies declared that its Board of Directors has authorized a share repurchase program on Wednesday, May 17th that permits the company to buyback $2.00 million in outstanding shares. This buyback authorization permits the communications equipment provider to repurchase up to 59% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.
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An institutional investor recently bought a new position in Westell Technologies stock. Essex Investment Management Co. LLC acquired a new position in Westell Technologies, Inc. (NASDAQ:WSTL) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 50,042 shares of the communications equipment provider’s stock, valued at approximately $157,000. Essex Investment Management Co. LLC owned 0.32% of Westell Technologies as of its most recent filing with the SEC.
Westell Technologies Company Profile
Westell Technologies, Inc is a provider of in-building wireless, intelligent site management, cell site optimization and outside plant solutions. The Company’s set of products and solutions are designed to manage network performance for carriers, integrators and other network operators. The Company operates in two segments: In-Building Wireless (IBW) and Communication Solutions Group (CSG).
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