Infinera Co. (NASDAQ:INFN) Receives $7.09 Average Price Target from Analysts

Shares of Infinera Co. (NASDAQ:INFN) have earned a consensus recommendation of “Hold” from the eight analysts that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and two have given a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $7.09.

Several research analysts have weighed in on the stock. StockNews.com cut shares of Infinera from a “hold” rating to a “sell” rating in a report on Monday, October 21st. JPMorgan Chase & Co. increased their price target on shares of Infinera from $5.00 to $6.00 and gave the company an “underweight” rating in a report on Tuesday, August 6th. B. Riley lowered their price target on shares of Infinera from $9.00 to $6.65 and set a “buy” rating on the stock in a report on Monday, August 5th. Berenberg Bank raised shares of Infinera to a “hold” rating in a report on Monday, August 5th. Finally, Rosenblatt Securities cut shares of Infinera from a “buy” rating to a “neutral” rating and lowered their price target for the company from $8.00 to $6.65 in a report on Monday, August 5th.

Infinera Price Performance

Shares of INFN stock opened at $6.72 on Thursday. The company has a quick ratio of 0.94, a current ratio of 1.57 and a debt-to-equity ratio of 5.02. The firm’s 50-day moving average is $6.59 and its 200-day moving average is $5.92. Infinera has a 52-week low of $2.93 and a 52-week high of $6.92.

Infinera (NASDAQ:INFN) last issued its earnings results on Friday, August 2nd. The communications equipment provider reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. The company had revenue of $342.70 million for the quarter, compared to analysts’ expectations of $331.71 million. Infinera had a negative net margin of 7.10% and a negative return on equity of 31.63%. The firm’s revenue was down 8.9% on a year-over-year basis. As a group, equities research analysts forecast that Infinera will post -0.17 EPS for the current fiscal year.

Institutional Trading of Infinera

Several large investors have recently made changes to their positions in the company. Olympiad Research LP acquired a new stake in shares of Infinera during the 3rd quarter worth approximately $1,388,000. Palumbo Wealth Management LLC boosted its position in shares of Infinera by 8.4% during the 3rd quarter. Palumbo Wealth Management LLC now owns 23,954 shares of the communications equipment provider’s stock worth $162,000 after acquiring an additional 1,850 shares in the last quarter. Creative Planning boosted its position in shares of Infinera by 87.3% during the 3rd quarter. Creative Planning now owns 30,443 shares of the communications equipment provider’s stock worth $205,000 after acquiring an additional 14,193 shares in the last quarter. Handelsbanken Fonder AB boosted its position in shares of Infinera by 44.3% during the 3rd quarter. Handelsbanken Fonder AB now owns 83,406 shares of the communications equipment provider’s stock worth $563,000 after acquiring an additional 25,600 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Infinera during the 3rd quarter worth approximately $556,000. Institutional investors and hedge funds own 97.54% of the company’s stock.

About Infinera

Infinera Corporation provides optical transport networking equipment, software, and services worldwide. The company's product portfolio includes Infinera Groove series for modular and sled-based platforms to support a various transport network applications; Infinera 7300 series, an SDN-ready coherent optical transport system; Infinera FlexILS open optical line system that connects various Infinera and third-party terminal equipment platforms over long-distance fiber optic cable providing switching, multiplexing, amplification, and management channels; and Infinera 7090 and 7100 series for transport platforms.