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

Shares of Infinera Co. (NASDAQ:INFN) have received an average rating of “Hold” from the eight ratings firms that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $7.09.

Several equities analysts have recently weighed in on the company. B. Riley cut Infinera from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 6th. StockNews.com raised shares of Infinera from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. Finally, Rosenblatt Securities restated a “neutral” rating and set a $6.65 price objective on shares of Infinera in a report on Wednesday, November 6th.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in INFN. Quantbot Technologies LP acquired a new position in Infinera during the third quarter worth $40,000. EverSource Wealth Advisors LLC acquired a new stake in Infinera in the second quarter valued at $104,000. Headlands Technologies LLC acquired a new position in shares of Infinera during the 2nd quarter worth about $112,000. Algert Global LLC acquired a new position in shares of Infinera during the 2nd quarter worth about $128,000. Finally, Palumbo Wealth Management LLC raised its holdings in shares of Infinera by 8.4% in the 3rd quarter. Palumbo Wealth Management LLC now owns 23,954 shares of the communications equipment provider’s stock valued at $162,000 after purchasing an additional 1,850 shares during the period. Institutional investors and hedge funds own 97.54% of the company’s stock.

Infinera Trading Up 0.6 %

NASDAQ:INFN opened at $6.59 on Tuesday. The company has a current ratio of 1.58, a quick ratio of 0.97 and a debt-to-equity ratio of 4.98. Infinera has a 1-year low of $4.41 and a 1-year high of $6.92. The firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of -13.73 and a beta of 1.64. The business’s 50-day moving average price is $6.61 and its two-hundred day moving average price is $6.44.

Infinera (NASDAQ:INFN) last released its quarterly earnings data on Tuesday, November 5th. The communications equipment provider reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.07). The firm had revenue of $354.40 million during the quarter, compared to the consensus estimate of $401.96 million. Infinera had a negative net margin of 7.62% and a negative return on equity of 45.12%. On average, equities analysts expect that Infinera will post -0.33 earnings per share for the current year.

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.