Infinera (INFN) Rating Increased to Outperform at Northland Securities

Infinera (NASDAQ:INFN) was upgraded by equities research analysts at Northland Securities from a “market perform” rating to an “outperform” rating in a research note issued on Thursday, MarketBeat reports. The brokerage presently has a $11.00 price objective on the communications equipment provider’s stock. Northland Securities’ price target indicates a potential upside of 22.77% from the company’s previous close.

Several other equities research analysts also recently weighed in on the stock. William Blair reaffirmed a “buy” rating on shares of Infinera in a research note on Thursday, November 9th. BidaskClub downgraded shares of Infinera from a “sell” rating to a “strong sell” rating in a research note on Tuesday, January 30th. Craig Hallum reaffirmed a “buy” rating and issued a $10.00 price target (down from $15.00) on shares of Infinera in a research note on Thursday, November 9th. MKM Partners downgraded shares of Infinera from a “buy” rating to a “neutral” rating and set a $13.00 price target for the company. in a research note on Thursday, November 9th. Finally, ValuEngine downgraded shares of Infinera from a “hold” rating to a “sell” rating in a research note on Thursday, November 2nd. Two analysts have rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $11.27.

Infinera (NASDAQ INFN) traded up $2.06 during mid-day trading on Thursday, reaching $8.96. 12,249,143 shares of the company traded hands, compared to its average volume of 1,370,000. The firm has a market capitalization of $1,340.00, a price-to-earnings ratio of -8.37 and a beta of 1.24. Infinera has a 1-year low of $6.10 and a 1-year high of $12.50.

Infinera (NASDAQ:INFN) last released its earnings results on Wednesday, February 7th. The communications equipment provider reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.01. The business had revenue of $195.82 million for the quarter, compared to analyst estimates of $190.26 million. Infinera had a negative net margin of 21.59% and a negative return on equity of 16.35%. Infinera’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.12) earnings per share. equities research analysts anticipate that Infinera will post -0.85 EPS for the current year.

In other Infinera news, CEO Thomas J. Fallon bought 100,000 shares of the firm’s stock in a transaction dated Monday, November 13th. The stock was bought at an average cost of $6.33 per share, with a total value of $633,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.90% of the company’s stock.

Several large investors have recently bought and sold shares of INFN. Prudential Financial Inc. increased its position in shares of Infinera by 4.9% during the second quarter. Prudential Financial Inc. now owns 15,110 shares of the communications equipment provider’s stock worth $161,000 after acquiring an additional 710 shares in the last quarter. Aperio Group LLC increased its position in shares of Infinera by 87.6% during the third quarter. Aperio Group LLC now owns 18,948 shares of the communications equipment provider’s stock worth $168,000 after acquiring an additional 8,847 shares in the last quarter. Amalgamated Bank increased its position in shares of Infinera by 5.7% during the second quarter. Amalgamated Bank now owns 18,344 shares of the communications equipment provider’s stock worth $196,000 after acquiring an additional 992 shares in the last quarter. Gainplan LLC bought a new stake in shares of Infinera during the third quarter worth about $302,000. Finally, Teacher Retirement System of Texas increased its position in shares of Infinera by 318.7% during the fourth quarter. Teacher Retirement System of Texas now owns 50,502 shares of the communications equipment provider’s stock worth $320,000 after acquiring an additional 38,439 shares in the last quarter. 88.38% of the stock is owned by institutional investors.

TRADEMARK VIOLATION NOTICE: “Infinera (INFN) Rating Increased to Outperform at Northland Securities” was originally reported by American Banking News and is the sole property of of American Banking News. If you are reading this report on another publication, it was stolen and reposted in violation of United States and international copyright and trademark laws. The correct version of this report can be viewed at https://www.americanbankingnews.com/2018/02/08/infinera-infn-rating-increased-to-outperform-at-northland-securities.html.

About Infinera

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.

Analyst Recommendations for Infinera (NASDAQ:INFN)

Receive News & Ratings for Infinera Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Infinera and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply