RF Industries (NASDAQ:RFIL) Upgraded to Strong-Buy at Zacks Research

RF Industries (NASDAQ:RFIL) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Wednesday,Zacks.com reports.

Other equities research analysts have also recently issued research reports about the stock. Wall Street Zen upgraded shares of RF Industries from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 20th. Weiss Ratings upgraded shares of RF Industries from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, June 23rd. Finally, B. Riley Financial increased their price objective on shares of RF Industries from $11.25 to $18.00 and gave the company a “neutral” rating in a report on Tuesday, June 16th. One analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $18.00.

RF Industries Stock Down 0.6%

RF Industries stock opened at $13.02 on Wednesday. The business’s 50-day simple moving average is $17.51 and its 200 day simple moving average is $13.54. The stock has a market cap of $141.27 million, a price-to-earnings ratio of 93.01 and a beta of 1.27. RF Industries has a 12-month low of $5.54 and a 12-month high of $22.30.

RF Industries (NASDAQ:RFIL) last announced its quarterly earnings data on Monday, June 15th. The electronics maker reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.05. RF Industries had a return on equity of 12.79% and a net margin of 1.70%.The firm had revenue of $20.69 million during the quarter, compared to analyst estimates of $19.67 million. As a group, sell-side analysts expect that RF Industries will post 0.59 EPS for the current year.

Hedge Funds Weigh In On RF Industries

Several institutional investors have recently modified their holdings of RFIL. Goldman Sachs Group Inc. bought a new stake in shares of RF Industries in the 1st quarter valued at about $56,000. PFG Investments LLC bought a new position in RF Industries during the 4th quarter worth approximately $64,000. Trexquant Investment LP bought a new position in RF Industries during the 4th quarter worth approximately $128,000. OMERS ADMINISTRATION Corp acquired a new position in RF Industries during the first quarter valued at approximately $131,000. Finally, Essex Investment Management Co. LLC acquired a new position in RF Industries during the fourth quarter valued at approximately $142,000. 23.49% of the stock is currently owned by institutional investors and hedge funds.

About RF Industries

RF Industries, Inc (NASDAQ: RFIL) is a manufacturer and supplier of connectivity products and solutions for the wireless, broadcast, cable television, data networking, defense and aerospace markets. The company specializes in both standard and custom coaxial and fiber-optic cable assemblies, connectors, adapters and test accessories designed to withstand demanding environmental conditions. Through its product portfolio, RF Industries supports applications ranging from RF signal transmission and satellite communications to industrial automation and instrumentation.

The company’s offerings include premade and build-to-print coaxial cables and assemblies, field-installable connectors, power distribution components and calibration-grade test equipment.