Infinera (NASDAQ:INFN) Receives New Coverage from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Infinera (NASDAQ:INFN) in a research note released on Friday. The firm issued a sell rating on the communications equipment provider’s stock.

Other equities research analysts have also issued research reports about the stock. Needham & Company LLC reaffirmed a hold rating on shares of Infinera in a research report on Friday, June 28th. Stifel Nicolaus reaffirmed a buy rating and set a $7.00 price target on shares of Infinera in a research report on Wednesday, May 15th. Craig Hallum reaffirmed a hold rating and set a $6.65 price target (down previously from $12.00) on shares of Infinera in a research report on Monday, July 1st. B. Riley reaffirmed a buy rating and set a $9.00 price target on shares of Infinera in a research report on Wednesday, May 15th. Finally, Morgan Stanley boosted their price objective on Infinera from $5.40 to $6.65 and gave the company an equal weight rating in a research note on Friday, June 28th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $7.55.

Infinera Stock Performance

Shares of Infinera stock opened at $5.88 on Friday. The stock has a market cap of $1.38 billion, a price-to-earnings ratio of -17.29 and a beta of 1.64. The firm’s 50-day moving average is $5.73 and its 200 day moving average is $5.36. Infinera has a 1 year low of $2.82 and a 1 year high of $6.62. The company has a debt-to-equity ratio of 4.08, a current ratio of 1.65 and a quick ratio of 0.97.

Infinera (NASDAQ:INFN) last issued its earnings results on Tuesday, May 14th. The communications equipment provider reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.07). Infinera had a negative return on equity of 27.68% and a negative net margin of 5.11%. The business had revenue of $306.92 million during the quarter, compared to analysts’ expectations of $337.73 million. Sell-side analysts anticipate that Infinera will post -0.19 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SageView Advisory Group LLC bought a new position in Infinera in the 1st quarter worth approximately $39,000. Partners Capital Investment Group LLP bought a new position in shares of Infinera during the 4th quarter valued at approximately $48,000. Worth Venture Partners LLC bought a new position in shares of Infinera during the 4th quarter valued at approximately $53,000. Ironwood Investment Counsel LLC bought a new position in shares of Infinera during the 4th quarter valued at approximately $56,000. Finally, SG Americas Securities LLC bought a new position in shares of Infinera during the 4th quarter valued at approximately $81,000. 97.54% of the stock is currently owned by institutional investors.

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.