Infinera Corporation (INFN) Rating Lowered to Sell at ValuEngine
Infinera Corporation (NASDAQ:INFN) was downgraded by stock analysts at ValuEngine from a “hold” rating to a “sell” rating in a research note issued on Thursday.
Several other research analysts have also recently weighed in on INFN. B. Riley reaffirmed a “buy” rating and issued a $14.00 price target on shares of Infinera Corporation in a report on Friday, August 4th. BidaskClub cut shares of Infinera Corporation from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 9th. Zacks Investment Research raised shares of Infinera Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. Needham & Company LLC reaffirmed a “strong-buy” rating and issued a $13.00 price target (down previously from $14.50) on shares of Infinera Corporation in a report on Wednesday, August 9th. Finally, MKM Partners decreased their price target on shares of Infinera Corporation from $14.00 to $13.00 and set a “buy” rating on the stock in a report on Friday, August 18th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $11.82.
Infinera Corporation (NASDAQ:INFN) last released its quarterly earnings results on Thursday, August 3rd. The communications equipment provider reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.01). The firm had revenue of $176.28 million during the quarter, compared to the consensus estimate of $181.16 million. Infinera Corporation had a negative return on equity of 12.39% and a negative net margin of 18.18%. The company’s revenue for the quarter was down 31.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.21 EPS.
COPYRIGHT VIOLATION NOTICE: “Infinera Corporation (INFN) Rating Lowered to Sell at ValuEngine” was originally posted by American Banking News and is the sole property of of American Banking News. If you are viewing this news story on another website, it was illegally stolen and reposted in violation of US & international trademark & copyright law. The correct version of this news story can be accessed at https://www.americanbankingnews.com/2017/11/02/infinera-corporation-infn-rating-lowered-to-sell-at-valuengine.html.
In other Infinera Corporation news, President David F. Welch sold 20,000 shares of the company’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $9.02, for a total transaction of $180,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.90% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. US Bancorp DE boosted its position in Infinera Corporation by 13.7% during the second quarter. US Bancorp DE now owns 9,843 shares of the communications equipment provider’s stock valued at $105,000 after buying an additional 1,186 shares during the period. Fred Alger Management Inc. purchased a new stake in Infinera Corporation during the second quarter valued at about $107,000. AlphaOne Investment Services LLC purchased a new stake in Infinera Corporation during the second quarter valued at about $108,000. Summit Securities Group LLC purchased a new stake in shares of Infinera Corporation during the second quarter worth about $109,000. Finally, Karp Capital Management Corp purchased a new stake in shares of Infinera Corporation during the first quarter worth about $106,000. Institutional investors and hedge funds own 87.59% of the company’s stock.
About Infinera Corporation
Infinera Corporation provides optical transport networking equipment, software and services to telecommunications service providers, Internet content providers (ICPs), cable providers, wholesale and enterprise carriers, research and education institutions, enterprise customers and government entities across the globe.
To view ValuEngine’s full report, visit ValuEngine’s official website.
Receive News & Ratings for Infinera Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Infinera Corporation and related companies with MarketBeat.com's FREE daily email newsletter.