RF Industries (NASDAQ:RFIL) Downgraded to Hold Rating by Zacks Research

Zacks Research lowered shares of RF Industries (NASDAQ:RFIL) from a strong-buy rating to a hold rating in a research report report published on Thursday morning,Zacks.com reports.

Several other analysts have also recently commented on the stock. Lake Street Capital initiated coverage on shares of RF Industries in a research report on Thursday, August 13th. They set a “buy” rating and a $19.00 target price for the company. Weiss Ratings lowered RF Industries from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, August 11th. Wall Street Zen cut RF Industries from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 25th. Finally, B. Riley Financial upgraded RF Industries from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $18.00 to $15.00 in a report on Friday. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $17.00.

RF Industries Price Performance

Shares of NASDAQ:RFIL opened at $11.18 on Thursday. The stock has a market cap of $121.30 million, a price-to-earnings ratio of 79.86 and a beta of 1.29. The company has a 50 day moving average of $15.26 and a 200-day moving average of $14.05. RF Industries has a one year low of $5.54 and a one year high of $22.30.

RF Industries (NASDAQ:RFIL) last announced its quarterly earnings data on Monday, June 15th. The electronics maker reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.05. RF Industries had a net margin of 1.70% and a return on equity of 12.79%. The business had revenue of $20.69 million for the quarter, compared to analyst estimates of $19.67 million. Equities research analysts anticipate that RF Industries will post 0.59 earnings per share for the current year.

Hedge Funds Weigh In On RF Industries

Institutional investors have recently modified their holdings of the business. State Street Corp grew its position in shares of RF Industries by 6.4% in the 4th quarter. State Street Corp now owns 38,484 shares of the electronics maker’s stock valued at $222,000 after purchasing an additional 2,300 shares during the period. Geode Capital Management LLC increased its stake in RF Industries by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 103,152 shares of the electronics maker’s stock worth $596,000 after purchasing an additional 2,718 shares in the last quarter. XTX Topco Ltd raised its holdings in RF Industries by 26.9% during the 4th quarter. XTX Topco Ltd now owns 25,227 shares of the electronics maker’s stock worth $146,000 after buying an additional 5,350 shares during the period. Goldman Sachs Group Inc. acquired a new stake in RF Industries during the 1st quarter worth approximately $56,000. Finally, OMERS ADMINISTRATION Corp bought a new position in RF Industries in the first quarter valued at approximately $131,000. Institutional investors own 23.49% of the company’s stock.

About RF Industries

RF Industries, Inc (NASDAQ: RFIL) is a manufacturer and supplier of connectivity products and solutions for the wireless, broadcast, cable television, data networking, defense and aerospace markets. The company specializes in both standard and custom coaxial and fiber-optic cable assemblies, connectors, adapters and test accessories designed to withstand demanding environmental conditions. Through its product portfolio, RF Industries supports applications ranging from RF signal transmission and satellite communications to industrial automation and instrumentation.

The company’s offerings include premade and build-to-print coaxial cables and assemblies, field-installable connectors, power distribution components and calibration-grade test equipment.