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

Shares of Infinera Co. (NASDAQ:INFN) have been assigned a consensus recommendation of “Hold” from the eight research firms that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $7.09.

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

Hedge Funds Weigh In On Infinera

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Olympiad Research LP bought a new stake in Infinera during the 3rd quarter worth about $1,388,000. Palumbo Wealth Management LLC lifted its position in 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 buying an additional 1,850 shares in the last quarter. Creative Planning lifted its position in 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 buying an additional 14,193 shares in the last quarter. Handelsbanken Fonder AB lifted its position in 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 buying an additional 25,600 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in Infinera during the 3rd quarter worth about $556,000. 97.54% of the stock is owned by institutional investors and hedge funds.

Infinera Price Performance

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

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