Electronics for Imaging, Inc. (EFII) Downgraded by Barclays PLC
Electronics for Imaging, Inc. (NASDAQ:EFII) was downgraded by equities researchers at Barclays PLC from an “overweight” rating to an “equal weight” rating in a report released on Monday, The Fly reports.
Several other equities analysts also recently commented on EFII. Needham & Company LLC restated a “buy” rating and issued a $43.00 price target on shares of Electronics for Imaging in a research note on Sunday, October 29th. Citigroup Inc. decreased their price target on shares of Electronics for Imaging from $53.00 to $43.00 and set a “buy” rating on the stock in a research note on Monday, October 30th. Loop Capital decreased their price target on shares of Electronics for Imaging from $58.00 to $50.00 and set a “buy” rating on the stock in a research note on Friday, October 27th. William Blair downgraded shares of Electronics for Imaging from an “outperform” rating to a “market perform” rating in a research note on Friday, October 27th. Finally, TheStreet downgraded shares of Electronics for Imaging from a “b-” rating to a “c” rating in a research note on Friday, August 4th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $45.75.
Electronics for Imaging (NASDAQ EFII) traded up $0.67 during trading hours on Monday, hitting $31.93. 200,404 shares of the company’s stock traded hands, compared to its average volume of 1,052,967. The stock has a market capitalization of $1,449.78, a price-to-earnings ratio of 48.09 and a beta of 1.26. The company has a quick ratio of 2.20, a current ratio of 2.62 and a debt-to-equity ratio of 0.38.
Electronics for Imaging (NASDAQ:EFII) last released its quarterly earnings results on Thursday, October 26th. The technology company reported $0.48 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by ($0.10). Electronics for Imaging had a net margin of 3.09% and a return on equity of 3.67%. The business had revenue of $248.36 million during the quarter, compared to analyst estimates of $258.09 million. During the same quarter last year, the company posted $0.58 earnings per share. The company’s revenue was up 1.1% on a year-over-year basis. analysts anticipate that Electronics for Imaging will post 0.28 earnings per share for the current year.
Electronics for Imaging announced that its Board of Directors has initiated a share repurchase program on Monday, September 11th that permits the company to buyback $125.00 million in outstanding shares. This buyback authorization permits the technology company to purchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.
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In other Electronics for Imaging news, CEO Guy Gecht sold 9,000 shares of the stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $42.76, for a total transaction of $384,840.00. Following the sale, the chief executive officer now directly owns 364,885 shares in the company, valued at $15,602,482.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold 27,000 shares of company stock worth $1,019,520 over the last quarter. Corporate insiders own 1.88% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the business. Oak Ridge Investments LLC bought a new position in shares of Electronics for Imaging in the second quarter worth about $33,304,000. Victory Capital Management Inc. lifted its holdings in shares of Electronics for Imaging by 41,895.1% in the second quarter. Victory Capital Management Inc. now owns 614,389 shares of the technology company’s stock worth $26,443,000 after acquiring an additional 612,926 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Electronics for Imaging by 25.0% in the first quarter. Goldman Sachs Group Inc. now owns 2,855,488 shares of the technology company’s stock worth $121,044,000 after acquiring an additional 570,968 shares during the last quarter. TimesSquare Capital Management LLC bought a new position in shares of Electronics for Imaging in the third quarter worth about $27,390,000. Finally, Becker Capital Management Inc. lifted its holdings in shares of Electronics for Imaging by 1,078.2% in the third quarter. Becker Capital Management Inc. now owns 586,335 shares of the technology company’s stock worth $25,025,000 after acquiring an additional 536,569 shares during the last quarter.
Electronics for Imaging Company Profile
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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