ValuEngine Upgrades Electronics for Imaging, Inc. (EFII) to “Hold”
Electronics for Imaging, Inc. (NASDAQ:EFII) was upgraded by equities researchers at ValuEngine from a “sell” rating to a “hold” rating in a research report issued on Friday.
EFII has been the subject of a number of other reports. TheStreet upgraded shares of Electronics for Imaging from a “c+” rating to a “b-” rating in a report on Monday, June 5th. William Blair reiterated an “outperform” rating on shares of Electronics for Imaging in a report on Wednesday, September 6th. Needham & Company LLC reiterated a “buy” rating and set a $38.00 price target (down from $53.00) on shares of Electronics for Imaging in a report on Wednesday, August 9th. Citigroup Inc. reiterated a “buy” rating and set a $53.00 price target on shares of Electronics for Imaging in a report on Thursday, September 7th. Finally, Zacks Investment Research upgraded shares of Electronics for Imaging from a “sell” rating to a “hold” rating in a report on Tuesday, June 20th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company’s stock. Electronics for Imaging presently has a consensus rating of “Buy” and a consensus target price of $50.70.
Electronics for Imaging (NASDAQ:EFII) traded up 2.11% during midday trading on Friday, hitting $41.59. 702,035 shares of the stock traded hands. Electronics for Imaging has a 52 week low of $25.54 and a 52 week high of $51.15. The company has a market capitalization of $1.93 billion, a price-to-earnings ratio of 43.10 and a beta of 1.27. The stock’s 50-day moving average price is $36.71 and its 200 day moving average price is $44.90.
Electronics for Imaging (NASDAQ:EFII) last posted its quarterly earnings results on Monday, September 11th. The technology company reported $0.54 EPS for the quarter, missing the Zacks’ consensus estimate of $0.56 by ($0.02). Electronics for Imaging had a net margin of 4.70% and a return on equity of 5.58%. The firm had revenue of $247.00 million for the quarter, compared to the consensus estimate of $247.65 million. During the same quarter in the prior year, the company earned $0.56 earnings per share. The company’s quarterly revenue was up .5% compared to the same quarter last year. On average, equities research analysts predict that Electronics for Imaging will post $2.44 EPS for the current year.
Electronics for Imaging announced that its board has authorized a share buyback program on Monday, September 11th that allows the company to repurchase $125.00 million in outstanding shares. This repurchase authorization allows the technology company to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.
In other news, CEO Guy Gecht sold 9,000 shares of the company’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $41.02, for a total value of $369,180.00. Following the sale, the chief executive officer now directly owns 377,950 shares of the company’s stock, valued at approximately $15,503,509. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 45,458 shares of company stock worth $2,118,405 over the last ninety days. Insiders own 1.88% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. 1st Global Advisors Inc. grew its position in shares of Electronics for Imaging by 11.1% in the 2nd quarter. 1st Global Advisors Inc. now owns 7,715 shares of the technology company’s stock worth $366,000 after buying an additional 773 shares during the period. Piedmont Investment Advisors LLC purchased a new stake in shares of Electronics for Imaging in the 2nd quarter worth about $476,000. Westwood Holdings Group Inc. grew its position in shares of Electronics for Imaging by 7.7% in the 2nd quarter. Westwood Holdings Group Inc. now owns 1,055,845 shares of the technology company’s stock worth $49,629,000 after buying an additional 75,045 shares during the period. Castleark Management LLC purchased a new stake in shares of Electronics for Imaging in the 2nd quarter worth about $8,723,000. Finally, State Street Corp grew its position in shares of Electronics for Imaging by 3.7% in the 2nd quarter. State Street Corp now owns 1,165,317 shares of the technology company’s stock worth $55,217,000 after buying an additional 41,326 shares during the period.
About Electronics for Imaging
Electronics For Imaging, Inc is engaged in digital printing, focused on the transformation of the printing, packaging, ceramic tile decoration, and textile industries from the use of traditional analog-based printing to digital on-demand printing. It operates through three segments. The Industrial Inkjet segment consists of its VUTEk and Matan super-wide and wide format display graphics, Reggiani textile, Jetrion label and packaging and Cretaprint ceramic tile decoration and construction material industrial digital inkjet printers; ceramic, water-based, and thermoforming ink, and digital inkjet printer parts, and professional services.
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