Exfo Inc. (EXFO) Raised to “Buy” at Zacks Investment Research
Exfo Inc. (NASDAQ:EXFO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The brokerage presently has a $4.50 price objective on the stock. Zacks Investment Research’s price objective indicates a potential upside of 12.22% from the company’s current price.
According to Zacks, “EXFO Inc. is a provider of next-generation test and service assurance solutions for wireless and wireline network operators and equipment manufacturers in the global telecommunications industry. The Company operates in two segments: Telecom Division, and the Life Sciences and Industrial Division. The Telecom Division offers a wide range of innovative solutions to assess optical networks, from the core to access, as well as next-generation IP infrastructures and related triple-play services. The Life Sciences and Industrial Division offers solutions in medical device and opto-electronics assembly, fluorescence microscopy and other life science sectors. EXFO Inc., formerly known as EXFO Electro-Optical Engineering Inc., is headquartered in Quebec, Canada. “
A number of other analysts have also issued reports on the stock. Royal Bank Of Canada reissued a “sector perform” rating and set a $5.50 target price on shares of Exfo in a research note on Thursday, June 30th. RBC Capital Markets reissued a “sector perform” rating and set a $4.25 target price on shares of Exfo in a research note on Wednesday, October 12th. Finally, Canaccord Genuity reissued a “hold” rating and set a $4.00 target price on shares of Exfo in a research note on Thursday, August 11th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Exfo presently has a consensus rating of “Hold” and an average target price of $4.21.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/18/exfo-inc-exfo-raised-to-buy-at-zacks-investment-research.html
Shares of Exfo (NASDAQ:EXFO) traded down 3.37% during mid-day trading on Tuesday, reaching $4.01. 54,899 shares of the company traded hands. Exfo has a 52 week low of $2.35 and a 52 week high of $4.36. The firm has a 50 day moving average of $3.67 and a 200-day moving average of $3.72. The stock has a market capitalization of $216.12 million, a PE ratio of 24.91 and a beta of 0.71.
Exfo (NASDAQ:EXFO) last issued its earnings results on Wednesday, October 12th. The company reported $0.04 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.04. The firm earned $62.90 million during the quarter. Exfo had a net margin of 3.83% and a return on equity of 5.77%. On average, equities research analysts expect that Exfo will post $0.19 EPS for the current fiscal year.
A number of institutional investors have recently made changes to their positions in the company. Summit Partners Public Asset Management LLC purchased a new position in shares of Exfo during the first quarter worth approximately $255,000. White Pine Capital LLC increased its position in shares of Exfo by 65.2% in the second quarter. White Pine Capital LLC now owns 38,000 shares of the company’s stock worth $131,000 after buying an additional 15,000 shares in the last quarter. Finally, Hillsdale Investment Management Inc. increased its position in shares of Exfo by 22.9% in the second quarter. Hillsdale Investment Management Inc. now owns 286,600 shares of the company’s stock worth $991,000 after buying an additional 53,400 shares in the last quarter. Institutional investors and hedge funds own 14.73% of the company’s stock.
EXFO Inc, formerly EXFO Electro-Optical Engineering Inc, designs, manufactures and markets test, service assurance and network visibility solutions for fixed and mobile network operators, Web-scale service providers, as well as equipment manufacturers in the global telecommunications industry. The Company focuses on network infrastructures, including fourth generation (4G)/long-term evolution (LTE), wireless backhaul, small cells and distributed antenna systems (DAS), 100G network upgrades and fiber-to-the-home (FTTH)/fiber-to-the-curb (FTTC)/fiber-to-the-node (FTTN) deployments.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Exfo Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Exfo Inc. and related companies with MarketBeat.com's FREE daily email newsletter.