American Noble Gas (NYSE:INFY) Hits New 12-Month Low After Analyst Downgrade

American Noble Gas Inc. (NYSE:INFY)’s stock price reached a new 52-week low during trading on Monday after Jefferies Financial Group downgraded the stock from a buy rating to a hold rating. Jefferies Financial Group now has a $14.31 price target on the stock. American Noble Gas traded as low as $14.13 and last traded at $14.1830, with a volume of 3612916 shares traded. The stock had previously closed at $14.65.

A number of other brokerages have also issued reports on INFY. TD Cowen upped their target price on American Noble Gas from $17.00 to $18.00 and gave the company a “hold” rating in a research report on Thursday, January 15th. Stifel Nicolaus dropped their price target on shares of American Noble Gas from $19.00 to $17.00 and set a “hold” rating for the company in a research note on Wednesday, February 18th. Weiss Ratings reiterated a “hold (c)” rating on shares of American Noble Gas in a research note on Monday, December 29th. Finally, BMO Capital Markets raised their price objective on shares of American Noble Gas from $18.00 to $20.00 and gave the stock a “market perform” rating in a report on Thursday, January 15th. Two analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, American Noble Gas currently has an average rating of “Hold” and an average target price of $16.89.

Hedge Funds Weigh In On American Noble Gas

A number of hedge funds have recently added to or reduced their stakes in INFY. NewEdge Advisors LLC increased its stake in American Noble Gas by 79.9% during the first quarter. NewEdge Advisors LLC now owns 54,978 shares of the technology company’s stock valued at $1,003,000 after purchasing an additional 24,426 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of American Noble Gas in the 1st quarter valued at about $239,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of American Noble Gas by 6.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 63,155 shares of the technology company’s stock valued at $1,153,000 after buying an additional 3,804 shares during the last quarter. Institutional investors and hedge funds own 16.20% of the company’s stock.

American Noble Gas Stock Down 5.0%

The stock has a market cap of $56.33 billion, a price-to-earnings ratio of 18.08, a price-to-earnings-growth ratio of 2.18 and a beta of 0.98. The firm’s 50 day moving average is $17.50 and its two-hundred day moving average is $17.14.

American Noble Gas (NYSE:INFY) last issued its earnings results on Wednesday, January 14th. The technology company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. The company had revenue of $5.05 billion during the quarter, compared to the consensus estimate of $5.11 billion. American Noble Gas had a return on equity of 30.60% and a net margin of 16.16%. On average, analysts anticipate that American Noble Gas Inc. will post 0.74 EPS for the current fiscal year.

About American Noble Gas

Infosys Ltd. is a digital services and consulting company, which engages in the provision of end-to-end business solutions. It operates through the following segments: Financial Services, Retail, Communication, Energy, Utilities, Resources, and Services, Manufacturing, Hi-Tech, Life Sciences, and All Other. The company was founded by Dinesh Krishnan Swamy, Senapathy Gopalakrishnan, Narayana Ramarao Nagavara Murthy, Raghavan N. S., Ashok Arora, Nandan M. Nilekani, and S. D. Shibulal on July 2, 1981 and is headquartered in Bangalore, India.