Exfo Inc. (EXFO) Upgraded 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 note issued to investors on Tuesday. The firm presently has a $4.50 price target on the stock. Zacks Investment Research’s price objective points to 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 also recently weighed in on EXFO. Canaccord Genuity set a $4.00 price target on shares of Exfo and gave the stock a “hold” rating in a research report on Saturday. RBC Capital Markets reissued a “sector perform” rating and set a $4.25 price target on shares of Exfo in a research report on Wednesday, October 12th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and set a $5.50 price target on shares of Exfo in a research report on Thursday, June 30th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $4.21.
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Shares of Exfo (NASDAQ:EXFO) traded down 3.37% during trading on Tuesday, reaching $4.01. 54,899 shares of the company’s stock were exchanged. The stock has a market capitalization of $216.12 million, a PE ratio of 24.91 and a beta of 0.71. The company’s 50-day moving average is $3.67 and its 200 day moving average is $3.72. Exfo has a 52 week low of $2.35 and a 52 week high of $4.36.
Exfo (NASDAQ:EXFO) last released its quarterly earnings results on Wednesday, October 12th. The company reported $0.04 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.04. Exfo had a net margin of 3.83% and a return on equity of 5.77%. The business earned $62.90 million during the quarter. On average, analysts forecast that Exfo will post $0.19 earnings per share for the current year.
A number of large investors have recently bought and sold shares of EXFO. Summit Partners Public Asset Management LLC bought a new stake in Exfo during the first quarter worth about $255,000. Hillsdale Investment Management Inc. boosted its stake in 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 during the last quarter. Finally, White Pine Capital LLC boosted its stake in 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 during the last quarter. Institutional investors own 14.73% of the company’s stock.
Exfo Company Profile
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.
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