Electronics for Imaging, Inc. (EFII) Price Target Cut to $43.00 by Analysts at Citigroup Inc.
Electronics for Imaging, Inc. (NASDAQ:EFII) had its price target cut by investment analysts at Citigroup Inc. from $53.00 to $43.00 in a research note issued on Monday. The brokerage presently has a “buy” rating on the technology company’s stock. Citigroup Inc.’s target price indicates a potential upside of 40.59% from the company’s current price.
Several other research analysts also recently issued reports on the stock. TheStreet downgraded shares of Electronics for Imaging from a “b-” rating to a “c” rating in a research note on Friday, August 4th. Cross Research downgraded shares of Electronics for Imaging from a “buy” rating to a “hold” rating and set a $55.00 target price on the stock. in a research note on Friday, August 4th. ValuEngine downgraded shares of Electronics for Imaging from a “hold” rating to a “sell” rating in a research note on Friday, September 8th. Needham & Company LLC upped their target price on shares of Electronics for Imaging from $38.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, September 6th. Finally, Barclays PLC dropped their target price on shares of Electronics for Imaging from $46.00 to $42.00 and set an “overweight” rating on the stock in a research note on Friday. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $45.75.
Shares of Electronics for Imaging (EFII) traded up 2.82% during trading on Monday, reaching $30.59. 2,729,889 shares of the company traded hands. The firm’s 50 day moving average is $41.43 and its 200-day moving average is $43.54. The stock has a market capitalization of $1.42 billion, a P/E ratio of 31.70 and a beta of 1.29. Electronics for Imaging has a 12-month low of $25.54 and a 12-month high of $51.15.
Electronics for Imaging (NASDAQ:EFII) last posted its quarterly earnings data on Thursday, October 26th. The technology company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.10). Electronics for Imaging had a return on equity of 3.67% and a net margin of 3.09%. The business had revenue of $248.36 million for the quarter, compared to the consensus estimate of $258.09 million. During the same period in the previous year, the firm earned $0.58 EPS. The company’s revenue was up 1.1% on a year-over-year basis. On average, equities research analysts anticipate that Electronics for Imaging will post $2.13 earnings per share for the current fiscal year.
Electronics for Imaging announced that its Board of Directors has approved a share buyback plan on Monday, September 11th that allows the company to buyback $125.00 million in shares. This buyback authorization allows the technology company to purchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.
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In other Electronics for Imaging news, CEO Guy Gecht sold 9,000 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $41.02, for a total transaction of $369,180.00. Following the completion of the sale, the chief executive officer now directly owns 377,950 shares of the company’s stock, valued at $15,503,509. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.88% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the business. Falcon Point Capital LLC purchased a new stake in shares of Electronics for Imaging in the second quarter worth $14,015,000. RK Capital Management LLC purchased a new stake in shares of Electronics for Imaging in the second quarter worth $13,271,000. Fred Alger Management Inc. purchased a new stake in shares of Electronics for Imaging in the second quarter worth $10,746,000. Smith Graham & Co. Investment Advisors LP increased its stake in shares of Electronics for Imaging by 147.9% in the third quarter. Smith Graham & Co. Investment Advisors LP now owns 338,185 shares of the technology company’s stock worth $14,434,000 after purchasing an additional 201,769 shares in the last quarter. Finally, Rice Hall James & Associates LLC increased its stake in shares of Electronics for Imaging by 52.7% in the second quarter. Rice Hall James & Associates LLC now owns 569,125 shares of the technology company’s stock worth $26,965,000 after purchasing an additional 196,355 shares in the last quarter.
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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