Zacks Investment Research Upgrades Digi International Inc. (NASDAQ:DGII) to “Buy”
Digi International Inc. (NASDAQ:DGII) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The brokerage presently has a $12.00 price target on the technology company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 17.07% from the company’s current price.
According to Zacks, “Digi International Inc. is a worldwide provider of communications hardware and software delivering seamless connectivity solutions for peripheral server-based remote access and local area networking markets. The Company operates exclusively in a single business segment and sells its products through a global network of distributors, systems integrators, value-added resellers and original equipment manufacturers. They also sell direct to select accounts and the government. “
A number of other research firms also recently weighed in on DGII. Canaccord Genuity reaffirmed a “buy” rating and issued a $15.00 target price on shares of Digi International in a research report on Friday. Benchmark Co. initiated coverage on shares of Digi International in a research report on Tuesday, April 25th. They issued a “buy” rating and a $16.00 target price on the stock. TheStreet downgraded shares of Digi International from a “b-” rating to a “c+” rating in a research report on Tuesday, May 30th. Sidoti raised shares of Digi International from a “neutral” rating to a “buy” rating in a research report on Tuesday, May 23rd. Finally, BidaskClub downgraded shares of Digi International from a “sell” rating to a “strong sell” rating in a research report on Monday. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $14.50.
Digi International (DGII) traded down 1.91% on Tuesday, hitting $10.25. 76,265 shares of the company’s stock were exchanged. The stock has a market cap of $271.84 million, a P/E ratio of 31.16 and a beta of 1.44. Digi International has a 52-week low of $9.00 and a 52-week high of $14.15. The firm has a 50 day moving average price of $9.95 and a 200-day moving average price of $11.35.
Digi International (NASDAQ:DGII) last released its earnings results on Thursday, July 27th. The technology company reported $0.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.03. The firm had revenue of $45.70 million for the quarter, compared to the consensus estimate of $45.67 million. Digi International had a net margin of 4.74% and a return on equity of 3.17%. The company’s revenue was down 12.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.16 EPS. Analysts predict that Digi International will post $0.27 earnings per share for the current fiscal year.
A number of hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new stake in shares of Digi International during the first quarter valued at approximately $106,000. OppenheimerFunds Inc. purchased a new stake in shares of Digi International during the first quarter valued at approximately $148,000. Arizona State Retirement System increased its stake in shares of Digi International by 3.0% in the first quarter. Arizona State Retirement System now owns 13,741 shares of the technology company’s stock valued at $164,000 after buying an additional 400 shares during the period. Thrivent Financial For Lutherans increased its stake in shares of Digi International by 6.3% in the first quarter. Thrivent Financial For Lutherans now owns 14,920 shares of the technology company’s stock valued at $178,000 after buying an additional 880 shares during the period. Finally, Thrivent Financial for Lutherans increased its stake in shares of Digi International by 6.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 14,040 shares of the technology company’s stock valued at $193,000 after buying an additional 860 shares during the period. 76.86% of the stock is currently owned by institutional investors.
About Digi International
Digi International Inc is a provider of mission and business-critical machine-to-machine (M2M) and Internet-of-Things (IoT) connectivity products and services. The Company creates connected products and deploys and manages critical communications infrastructures in a range of environments. It offers four categories of hardware products: cellular routers and gateways, radio frequency (RF), embedded and network products.
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