RF Industries (NASDAQ:RFIL) Upgraded by Wall Street Zen to “Strong-Buy” Rating

RF Industries (NASDAQ:RFIL) was upgraded by equities researchers at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued on Saturday.

Other analysts also recently issued research reports about the company. Weiss Ratings upgraded RF Industries from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, June 2nd. B. Riley Financial raised their price objective on RF Industries from $11.25 to $18.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, Zacks Research cut RF Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 16th. Three research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $18.00.

RF Industries Price Performance

NASDAQ:RFIL opened at $17.81 on Friday. RF Industries has a one year low of $4.78 and a one year high of $20.00. The company’s 50-day simple moving average is $16.16 and its 200 day simple moving average is $11.59. The firm has a market capitalization of $193.24 million, a P/E ratio of 127.22 and a beta of 1.30.

RF Industries (NASDAQ:RFIL) last announced its quarterly earnings data on Monday, June 15th. The electronics maker reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.05. RF Industries had a net margin of 1.70% and a return on equity of 12.79%. The business had revenue of $20.69 million for the quarter, compared to analysts’ expectations of $19.67 million. On average, equities research analysts expect that RF Industries will post 0.59 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in RFIL. Bank of America Corp DE grew its holdings in shares of RF Industries by 519.3% during the first quarter. Bank of America Corp DE now owns 20,634 shares of the electronics maker’s stock valued at $213,000 after buying an additional 17,302 shares during the last quarter. OMERS ADMINISTRATION Corp bought a new position in RF Industries in the 1st quarter valued at approximately $131,000. Sei Investments Co. lifted its position in RF Industries by 257.2% in the 1st quarter. Sei Investments Co. now owns 84,030 shares of the electronics maker’s stock valued at $866,000 after acquiring an additional 60,503 shares in the last quarter. Walleye Capital LLC purchased a new stake in RF Industries during the 1st quarter valued at $731,000. Finally, XTX Topco Ltd increased its holdings in shares of RF Industries by 26.9% in the 4th quarter. XTX Topco Ltd now owns 25,227 shares of the electronics maker’s stock worth $146,000 after purchasing an additional 5,350 shares in the last quarter. Institutional investors own 23.49% of the company’s stock.

About RF Industries

RF Industries, Inc (NASDAQ: RFIL) is a manufacturer and supplier of connectivity products and solutions for the wireless, broadcast, cable television, data networking, defense and aerospace markets. The company specializes in both standard and custom coaxial and fiber-optic cable assemblies, connectors, adapters and test accessories designed to withstand demanding environmental conditions. Through its product portfolio, RF Industries supports applications ranging from RF signal transmission and satellite communications to industrial automation and instrumentation.

The company’s offerings include premade and build-to-print coaxial cables and assemblies, field-installable connectors, power distribution components and calibration-grade test equipment.