Frequency Electronics (NASDAQ:FEIM) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Frequency Electronics (NASDAQ:FEIM) from a hold rating to a buy rating in a research note released on Saturday morning,Wall Street Zen reports.

A number of other equities research analysts have also recently weighed in on FEIM. Freedom Broker cut shares of Frequency Electronics from a “buy” rating to a “hold” rating and lifted their price target for the company from $77.00 to $91.00 in a research report on Monday, September 14th. Weiss Ratings raised shares of Frequency Electronics from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Frequency Electronics has an average rating of “Buy” and an average target price of $59.67.

Frequency Electronics Trading Down 3.2%

Shares of NASDAQ:FEIM opened at $72.68 on Friday. The business has a 50-day moving average price of $74.35 and a 200 day moving average price of $65.96. The company has a market capitalization of $819.10 million, a price-to-earnings ratio of 290.72 and a beta of 0.65. Frequency Electronics has a 12-month low of $26.05 and a 12-month high of $89.76.

Frequency Electronics (NASDAQ:FEIM) last issued its quarterly earnings data on Thursday, September 10th. The communications equipment provider reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.26. Frequency Electronics had a net margin of 3.68% and a return on equity of 3.63%. The firm had revenue of $23.45 million for the quarter, compared to analyst estimates of $17.85 million.

Hedge Funds Weigh In On Frequency Electronics

Hedge funds have recently modified their holdings of the business. Farther Finance Advisors LLC increased its holdings in shares of Frequency Electronics by 29.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 666 shares of the communications equipment provider’s stock valued at $56,000 after acquiring an additional 153 shares during the period. Zevenbergen Capital Investments LLC acquired a new stake in Frequency Electronics during the 3rd quarter worth $222,000. Ausbil Investment Management Ltd grew its position in Frequency Electronics by 19.1% during the 3rd quarter. Ausbil Investment Management Ltd now owns 9,335 shares of the communications equipment provider’s stock worth $789,000 after purchasing an additional 1,500 shares during the last quarter. WINTON GROUP Ltd purchased a new position in Frequency Electronics during the 2nd quarter worth $362,000. Finally, IFP Advisors Inc grew its position in Frequency Electronics by 46.0% during the 2nd quarter. IFP Advisors Inc now owns 1,905 shares of the communications equipment provider’s stock worth $126,000 after purchasing an additional 600 shares during the last quarter. 58.60% of the stock is currently owned by hedge funds and other institutional investors.

Frequency Electronics Company Profile

Frequency Electronics, Inc (NASDAQ: FEIM) designs and manufactures precision timing, frequency-control and synchronization products. Its technologies are used to generate, stabilize and distribute highly accurate timing signals for systems that require reliable frequency performance.

The company’s products include crystal oscillators, atomic frequency standards, frequency synthesizers, GPS- and GNSS-disciplined timing devices, and time-and-frequency distribution systems. These products support applications in aerospace and defense, satellite communications, telecommunications, and other commercial and industrial markets.

Founded in 1961, Frequency Electronics serves customers in the United States and international markets.