Infinera (NASDAQ:INFN) Rating Lowered to Underperform at Jefferies Financial Group

Infinera (NASDAQ:INFN) was downgraded by equities researchers at Jefferies Financial Group from a “hold” rating to an “underperform” rating in a research note issued on Thursday, The Fly reports.

A number of other research firms have also commented on INFN. BidaskClub lowered shares of Infinera from a “buy” rating to a “hold” rating in a research report on Tuesday, October 29th. Goldman Sachs Group upgraded shares of Infinera from a “neutral” rating to a “buy” rating in a research report on Thursday, August 8th. Stifel Nicolaus set a $6.00 price target on shares of Infinera and gave the company a “hold” rating in a research report on Thursday, September 12th. Raymond James upgraded shares of Infinera from an “underperform” rating to a “market perform” rating in a research report on Thursday, August 8th. Finally, B. Riley set a $8.00 price target on shares of Infinera and gave the company a “buy” rating in a research report on Friday, October 25th. Four research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $6.22.

INFN traded up $0.02 during trading on Thursday, hitting $5.23. The stock had a trading volume of 2,782,700 shares, compared to its average volume of 2,583,318. The firm has a market cap of $1.06 billion, a PE ratio of -8.17 and a beta of 0.54. Infinera has a 12 month low of $2.80 and a 12 month high of $6.50. The company has a current ratio of 1.54, a quick ratio of 0.91 and a debt-to-equity ratio of 0.67. The company has a 50 day simple moving average of $5.46 and a 200-day simple moving average of $4.26.

Infinera (NASDAQ:INFN) last released its quarterly earnings results on Wednesday, August 7th. The communications equipment provider reported ($0.24) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.35) by $0.11. The firm had revenue of $296.25 million for the quarter, compared to analyst estimates of $300.40 million. Infinera had a negative net margin of 35.53% and a negative return on equity of 27.60%. The company’s revenue for the quarter was up 42.3% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.01) earnings per share. As a group, sell-side analysts anticipate that Infinera will post -0.91 earnings per share for the current fiscal year.

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Several hedge funds have recently made changes to their positions in the company. US Bancorp DE lifted its position in shares of Infinera by 20.1% during the second quarter. US Bancorp DE now owns 24,211 shares of the communications equipment provider’s stock worth $70,000 after purchasing an additional 4,051 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its position in shares of Infinera by 95.2% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 22,010 shares of the communications equipment provider’s stock worth $66,000 after purchasing an additional 10,733 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Infinera by 63.0% during the third quarter. Envestnet Asset Management Inc. now owns 38,646 shares of the communications equipment provider’s stock worth $211,000 after purchasing an additional 14,935 shares in the last quarter. BBVA USA Bancshares Inc. acquired a new position in shares of Infinera during the third quarter worth approximately $84,000. Finally, UBS Asset Management Americas Inc. lifted its position in shares of Infinera by 20.1% during the second quarter. UBS Asset Management Americas Inc. now owns 107,673 shares of the communications equipment provider’s stock worth $313,000 after purchasing an additional 18,036 shares in the last quarter. Institutional investors own 79.13% of the company’s stock.

About Infinera

Infinera Corporation provides optical transport networking equipment and software and services worldwide. The company's product portfolio consists of Infinera DTN-X Family of terabit-class transport network platforms, including the XTC Series, XTS Series, and XT Series; Infinera DTN-X XTC series multi-terabit packet optical transport platforms that integrate digital OTN switching and optical WDM transmission; and Infinera DTN-X XT series for terrestrial applications and XTS series for subsea applications.

Further Reading: Basic Economics

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