Brokerages Set Infinera Co. (NASDAQ:INFN) Target Price at $7.09

Shares of Infinera Co. (NASDAQ:INFN) have been given an average recommendation of “Hold” by the eight brokerages that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $7.09.

INFN has been the subject of several analyst reports. Berenberg Bank raised shares of Infinera to a “hold” rating in a research note on Monday, August 5th. B. Riley downgraded Infinera from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 6th. JPMorgan Chase & Co. raised their price target on Infinera from $5.00 to $6.00 and gave the company an “underweight” rating in a report on Tuesday, August 6th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $6.65 price target on shares of Infinera in a report on Wednesday, November 6th. Finally, StockNews.com raised Infinera from a “sell” rating to a “hold” rating in a report on Thursday, November 7th.

Infinera Price Performance

Shares of INFN opened at $6.61 on Monday. The stock has a market capitalization of $1.57 billion, a P/E ratio of -13.79 and a beta of 1.71. Infinera has a twelve month low of $3.79 and a twelve month high of $6.92. The company has a 50 day moving average of $6.71 and a 200-day moving average of $6.13. The company has a quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 4.98.

Infinera (NASDAQ:INFN) last issued its quarterly earnings results on Tuesday, November 5th. The communications equipment provider reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.07). The business had revenue of $354.40 million for the quarter, compared to the consensus estimate of $401.96 million. Infinera had a negative return on equity of 45.12% and a negative net margin of 7.62%. As a group, equities research analysts forecast that Infinera will post -0.25 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. ProShare Advisors LLC grew its holdings in shares of Infinera by 8.5% during the first quarter. ProShare Advisors LLC now owns 35,853 shares of the communications equipment provider’s stock worth $216,000 after purchasing an additional 2,821 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Infinera by 9.3% during the first quarter. Vanguard Group Inc. now owns 27,049,371 shares of the communications equipment provider’s stock worth $163,108,000 after purchasing an additional 2,299,025 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Infinera by 4.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 148,324 shares of the communications equipment provider’s stock worth $895,000 after purchasing an additional 6,617 shares during the last quarter. Verity Asset Management Inc. bought a new stake in shares of Infinera during the first quarter worth about $291,000. Finally, First Hawaiian Bank bought a new stake in shares of Infinera during the second quarter worth about $666,000. Institutional investors own 97.54% of the company’s stock.

Infinera Company Profile

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.