EXFO Inc (NASDAQ:EXFO) (TSE:EXF) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday.

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. “

EXFO has been the topic of a number of other research reports. Canaccord Genuity reiterated a “hold” rating and set a $5.75 price objective on shares of EXFO in a research note on Tuesday, May 2nd. Royal Bank Of Canada dropped their price objective on EXFO from $5.50 to $5.25 and set a “sector perform” rating on the stock in a research note on Friday, June 30th. TheStreet cut EXFO from a “b” rating to a “c+” rating in a research note on Friday, July 7th. Northland Securities set a $6.00 price target on EXFO and gave the company a “buy” rating in a research note on Saturday, July 1st. Finally, BMO Capital Markets set a $6.00 price target on EXFO and gave the company a “hold” rating in a research note on Saturday, July 1st. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. EXFO has an average rating of “Hold” and an average price target of $5.63.

EXFO (EXFO) traded up 0.63% during midday trading on Wednesday, reaching $4.00. 2,320 shares of the company were exchanged. EXFO has a 52-week low of $3.14 and a 52-week high of $6.15. The firm’s 50-day moving average price is $4.18 and its 200 day moving average price is $4.86. The stock has a market capitalization of $218.82 million, a price-to-earnings ratio of 100.00 and a beta of 0.55.

EXFO (NASDAQ:EXFO) (TSE:EXF) last announced its quarterly earnings data on Thursday, June 29th. The communications equipment provider reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by $0.06. EXFO had a return on equity of 3.25% and a net margin of 0.93%. The company had revenue of $58.50 million for the quarter, compared to the consensus estimate of $61.61 million. The company’s quarterly revenue was down 3.8% on a year-over-year basis.

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A number of large investors have recently bought and sold shares of the stock. Summit Partners Public Asset Management LLC acquired a new stake in EXFO during the first quarter worth $255,000. Acadian Asset Management LLC boosted its stake in EXFO by 1,114.1% in the first quarter. Acadian Asset Management LLC now owns 86,200 shares of the communications equipment provider’s stock worth $451,000 after buying an additional 79,100 shares during the period. White Pine Capital LLC boosted its stake in EXFO by 28.4% in the second quarter. White Pine Capital LLC now owns 177,125 shares of the communications equipment provider’s stock worth $832,000 after buying an additional 39,175 shares during the period. Hillsdale Investment Management Inc. boosted its stake in EXFO by 20.7% in the first quarter. Hillsdale Investment Management Inc. now owns 187,000 shares of the communications equipment provider’s stock worth $980,000 after buying an additional 32,100 shares during the period. Finally, Harber Asset Management LLC boosted its stake in EXFO by 15.7% in the third quarter. Harber Asset Management LLC now owns 275,321 shares of the communications equipment provider’s stock worth $1,024,000 after buying an additional 37,412 shares during the period. Institutional investors and hedge funds own 16.99% of the company’s stock.

EXFO Company Profile

EXFO Inc is a Canada-based company, which provides communications service providers (CSPs) and data center, cloud and Web-scale operators with field test, service assurance and analytics solutions to ensure the deployment, maintenance and management of physical, virtual, fixed and mobile networks. It focuses on network infrastructures: 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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