Zacks Investment Research Upgrades Westell Technologies, Inc. (WSTL) to Buy
Westell Technologies, Inc. (NASDAQ:WSTL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Thursday. The firm currently has a $3.25 price objective on the communications equipment provider’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 13.64% from the company’s previous close.
According to Zacks, “Westell Technologies Inc. designs, manufactures, markets and services a broad range of digital and analog products used by telcos to deliver services primarily over existing copper telephone wires that connect end users to a telco’s central office. The company also markets its products and services to other telecommunications and information service providers seeking direct access to end-user customers. The company’s customers include all the Regional Bell Operating Companies as well as GTE and other carriers. “
WSTL has been the subject of several other reports. ValuEngine raised Westell Technologies from a “sell” rating to a “hold” rating in a report on Friday, June 9th. Northland Securities set a $6.00 target price on Westell Technologies and gave the company a “buy” rating in a report on Friday, August 11th.
Shares of Westell Technologies (NASDAQ:WSTL) opened at 2.86 on Thursday. Westell Technologies has a 52-week low of $1.76 and a 52-week high of $3.80. The firm’s market capitalization is $44.05 million. The firm’s 50-day moving average price is $2.96 and its 200-day moving average price is $2.90.
Westell Technologies (NASDAQ:WSTL) last announced its quarterly earnings data on Wednesday, August 9th. The communications equipment provider reported $0.03 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.01). The firm had revenue of $16.57 million during the quarter, compared to the consensus estimate of $15.36 million. Westell Technologies had a negative net margin of 13.51% and a negative return on equity of 1.07%. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.06) earnings per share. On average, equities analysts predict that Westell Technologies will post $0.10 earnings per share for the current fiscal year.
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An institutional investor recently bought a new position in Westell Technologies stock. Essex Investment Management Co. LLC bought a new stake in shares of Westell Technologies, Inc. (NASDAQ:WSTL) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 50,042 shares of the communications equipment provider’s stock, valued at approximately $157,000. Essex Investment Management Co. LLC owned about 0.32% of Westell Technologies at the end of the most recent quarter. Institutional investors own 27.18% of the company’s stock.
Westell Technologies Company Profile
Westell Technologies, Inc is a provider of in-building wireless, intelligent site management, cell site optimization and outside plant solutions. The Company’s set of products and solutions are designed to manage network performance for carriers, integrators and other network operators. The Company operates in two segments: In-Building Wireless (IBW) and Communication Solutions Group (CSG).
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