Infinera Co. (NASDAQ:INFN) Receives $7.09 Consensus Price Target from Brokerages

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

INFN has been the topic of several recent analyst reports. StockNews.com upgraded Infinera from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. Rosenblatt Securities reiterated a “neutral” rating and issued a $6.65 price target on shares of Infinera in a research report on Wednesday, November 6th. Finally, B. Riley cut Infinera from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 6th.

Institutional Trading of Infinera

A number of institutional investors and hedge funds have recently made changes to their positions in INFN. Quantbot Technologies LP acquired a new position in Infinera during the third quarter valued at approximately $40,000. EverSource Wealth Advisors LLC acquired a new stake in Infinera in the 2nd quarter valued at $104,000. Headlands Technologies LLC purchased a new position in Infinera in the second quarter valued at about $112,000. Algert Global LLC acquired a new position in shares of Infinera during the second quarter worth about $128,000. Finally, Palumbo Wealth Management LLC lifted its stake in shares of Infinera by 8.4% during the third quarter. Palumbo Wealth Management LLC now owns 23,954 shares of the communications equipment provider’s stock worth $162,000 after purchasing an additional 1,850 shares in the last quarter. 97.54% of the stock is currently owned by institutional investors and hedge funds.

Infinera Price Performance

Shares of NASDAQ INFN opened at $6.62 on Friday. The company has a current ratio of 1.58, a quick ratio of 0.97 and a debt-to-equity ratio of 4.98. The stock has a market cap of $1.57 billion, a P/E ratio of -13.79 and a beta of 1.67. The stock has a 50 day moving average of $6.66 and a two-hundred day moving average of $6.29. Infinera has a twelve month low of $4.18 and a twelve month high of $6.92.

Infinera (NASDAQ:INFN) last posted its quarterly earnings data on Tuesday, November 5th. The communications equipment provider reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.07). Infinera had a negative return on equity of 45.12% and a negative net margin of 7.62%. The company had revenue of $354.40 million for the quarter, compared to analyst estimates of $401.96 million. On average, research analysts forecast that Infinera will post -0.25 earnings per share for the current year.

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.