BidaskClub upgraded shares of Infinera (NASDAQ:INFN) from a hold rating to a buy rating in a research report released on Friday, BidAskClub reports.

Several other equities research analysts have also commented on the company. Rosenblatt Securities reissued a hold rating and set a $4.00 price target on shares of Infinera in a research note on Thursday, August 8th. B. Riley raised Infinera from a neutral rating to a buy rating and boosted their price target for the stock from $4.75 to $6.00 in a research note on Tuesday, July 23rd. ValuEngine raised Infinera from a sell rating to a hold rating in a research note on Thursday, August 1st. Goldman Sachs Group raised Infinera from a neutral rating to a buy rating in a research note on Thursday, August 8th. Finally, Raymond James raised Infinera from an underperform rating to a market perform rating in a research note on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Infinera has an average rating of Hold and a consensus price target of $6.14.

Shares of INFN opened at $4.86 on Friday. Infinera has a twelve month low of $2.80 and a twelve month high of $9.54. The stock’s 50 day moving average is $3.65 and its two-hundred day moving average is $4.03. The firm has a market capitalization of $871.87 million, a PE ratio of -7.59 and a beta of 0.80. The company has a current ratio of 1.54, a quick ratio of 1.10 and a debt-to-equity ratio of 0.67.

Infinera (NASDAQ:INFN) last announced its quarterly earnings results on Wednesday, August 7th. The communications equipment provider reported ($0.24) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.35) by $0.11. The business had revenue of $296.25 million for the quarter, compared to analyst estimates of $300.40 million. Infinera had a negative return on equity of 27.60% and a negative net margin of 35.53%. The company’s quarterly revenue was up 42.3% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.01) EPS. On average, sell-side analysts predict that Infinera will post -0.91 EPS for the current year.

In related news, COO David W. Heard bought 25,000 shares of Infinera stock in a transaction that occurred on Friday, May 24th. The shares were purchased at an average price of $3.13 per share, with a total value of $78,250.00. Following the purchase, the chief operating officer now owns 80,816 shares in the company, valued at $252,954.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.80% of the stock is currently owned by corporate insiders.

Hedge funds have recently bought and sold shares of the stock. Principal Financial Group Inc. raised its holdings in shares of Infinera by 23.5% during the 4th quarter. Principal Financial Group Inc. now owns 17,281 shares of the communications equipment provider’s stock valued at $69,000 after purchasing an additional 3,288 shares in the last quarter. Legal & General Group Plc raised its holdings in Infinera by 52.4% in the 4th quarter. Legal & General Group Plc now owns 75,878 shares of the communications equipment provider’s stock worth $303,000 after acquiring an additional 26,077 shares during the period. Norges Bank bought a new position in Infinera in the 4th quarter worth $2,353,000. Bank of Montreal Can raised its holdings in Infinera by 187.0% in the 1st quarter. Bank of Montreal Can now owns 725,709 shares of the communications equipment provider’s stock worth $3,150,000 after acquiring an additional 472,849 shares during the period. Finally, NJ State Employees Deferred Compensation Plan raised its holdings in Infinera by 16.7% in the 1st quarter. NJ State Employees Deferred Compensation Plan now owns 70,000 shares of the communications equipment provider’s stock worth $304,000 after acquiring an additional 10,000 shares during the period. 83.01% of the stock is currently owned by hedge funds and other institutional investors.

About Infinera

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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