Fabrinet Reaches New 12-Month High at $17.25 (FN)
Fabrinet (NYSE:FN)’s share price reached a new 52-week high on Tuesday, American Banking News reports. The company traded as high as $17.25 and last traded at $16.98, with a volume of 111,856 shares traded. The stock had previously closed at $16.84.
A number of analysts have recently weighed in on FN shares. Analysts at Stifel Nicolaus upgraded shares of Fabrinet (NYSE:FN) from a “hold” rating to a “buy” rating in a research note to investors on Thursday, September 26th. They now have a $20.00 price target on the stock. Separately, analysts at Zacks upgraded shares of Fabrinet (NYSE:FN) from a “neutral” rating to an “outperform” rating in a research note to investors on Friday, August 16th. They now have a $15.80 price target on the stock. Finally, analysts at Piper Jaffray Cos. raised their price target on shares of Fabrinet (NYSE:FN) from $18.00 to $20.00 in a research note to investors on Tuesday, August 13th. They now have an “overweight” rating on the stock. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $17.72.
Fabrinet has a 52 week low of $9.25 and a 52 week high of $17.19. The stock’s 50-day moving average is $14.90 and its 200-day moving average is $14.36. The company has a market cap of $588.1 million and a P/E ratio of 8.51.
Fabrinet (NYSE:FN) last posted its quarterly earnings results on Monday, August 12th. The company reported $0.35 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.28 by $0.07. The company had revenue of $159.90 million for the quarter, compared to the consensus estimate of $142.80 million. During the same quarter in the prior year, the company posted $0.31 earnings per share. The company’s quarterly revenue was up 12.0% on a year-over-year basis.
Fabrinet provides optical packaging and precision optical, electro-mechanical and electronic manufacturing services to original equipment manufacturers (NYSE:FN) of complex products, such as optical communication components, modules and sub-systems, industrial lasers and sensors.
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