Alliance Fiber Optic Products PT Raised to $19.00 at B. Riley (AFOP)
Equities researchers at B. Riley increased their price objective on shares of Alliance Fiber Optic Products (NASDAQ:AFOP) from $15.60 to $19.00 in a research report issued on Wednesday, Analyst Ratings Network.com reports. The firm currently has a “neutral” rating on the stock. B. Riley’s price objective would suggest a potential downside of 17.36% from the company’s current price.
Shares of Alliance Fiber Optic Products (NASDAQ:AFOP) traded up 13.59% on Wednesday, hitting $22.99. The stock had a trading volume of 3,055,771 shares. Alliance Fiber Optic Products has a 1-year low of $4.40 and a 1-year high of $21.25. The stock’s 50-day moving average is $17.48 and its 200-day moving average is $11.59. The company has a market cap of $415.3 million and a P/E ratio of 26.56.
Alliance Fiber Optic Products (NASDAQ:AFOP) last released its earnings data on Tuesday, July 23rd. The company reported $0.49 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.47 by $0.02. The company had revenue of $19.00 million for the quarter, compared to the consensus estimate of $19.10 million. During the same quarter last year, the company posted $0.14 earnings per share. Alliance Fiber Optic Products’s revenue was up 65.2% compared to the same quarter last year. Analysts expect that Alliance Fiber Optic Products will post $0.89 EPS for the current fiscal year.
Alliance Fiber Optic Products Inc (NASDAQ:AFOP) designs, manufactures and markets a range of fiber optic components, and integrated modules incorporating these components, for communications equipment manufacturers and service providers.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.