Alliance Fiber Optic Products Downgraded to “Underperform” at Zacks (AFOP)
Alliance Fiber Optic Products (NASDAQ:AFOP) was downgraded by Zacks from an “outperform” rating to an “underperform” rating in a research report issued to clients and investors on Wednesday, American Banking News reports. They currently have a $10.00 price objective on the stock. Zacks‘ target price would suggest a potential downside of 17.75% from the company’s current price.
Alliance Fiber Optic Products (NASDAQ:AFOP) traded down 0.63% during mid-day trading on Wednesday, hitting $11.9828. The stock had a trading volume of 1,487,415 shares. Alliance Fiber Optic Products has a 1-year low of $5.42 and a 1-year high of $23.94. The stock has a 50-day moving average of $15.45 and a 200-day moving average of $17.02. The company has a market cap of $219.7 million and a price-to-earnings ratio of 12.39.
Alliance Fiber Optic Products (NASDAQ:AFOP) last released its earnings data on Monday, February 3rd. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by $0.06. The company had revenue of $21.80 million for the quarter, compared to the consensus estimate of $22.68 million. During the same quarter in the previous year, the company posted $0.32 earnings per share. The company’s revenue for the quarter was up 78.7% on a year-over-year basis. Analysts expect that Alliance Fiber Optic Products will post $1.19 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.
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