Infinera Co. (NASDAQ:INFN) Receives $7.09 Average Price Target from Analysts

Shares of Infinera Co. (NASDAQ:INFN - Get Free Report) have been given an average rating of "Hold" by the eight research firms that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $7.09.

Several equities research analysts have issued reports on the stock. Rosenblatt Securities restated a "neutral" rating and set a $6.65 price objective on shares of Infinera in a research report on Wednesday, November 6th. StockNews.com upgraded Infinera from a "sell" rating to a "hold" rating in a research note on Thursday, November 7th. B. Riley cut Infinera from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, November 6th. JPMorgan Chase & Co. lifted their target price on Infinera from $5.00 to $6.00 and gave the stock an "underweight" rating in a report on Tuesday, August 6th. Finally, Berenberg Bank upgraded shares of Infinera to a "hold" rating in a research note on Monday, August 5th.

Infinera Stock Performance

Shares of INFN traded down $0.02 during mid-day trading on Monday, reaching $6.62. The company's stock had a trading volume of 862,812 shares, compared to its average volume of 4,839,078. The company has a current ratio of 1.58, a quick ratio of 0.97 and a debt-to-equity ratio of 4.98. Infinera has a 1-year low of $3.79 and a 1-year high of $6.92. The business has a 50-day simple moving average of $6.71 and a two-hundred day simple moving average of $6.12. The stock has a market cap of $1.57 billion, a P/E ratio of -13.79 and a beta of 1.71.

Infinera (NASDAQ:INFN - Get Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The communications equipment provider reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.07). Infinera had a negative net margin of 7.62% and a negative return on equity of 45.12%. The business had revenue of $354.40 million for the quarter, compared to analyst estimates of $401.96 million. As a group, equities research analysts anticipate that Infinera will post -0.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Infinera

Several institutional investors and hedge funds have recently bought and sold shares of the company. Quantbot Technologies LP bought a new stake in Infinera during the third quarter worth $40,000. EverSource Wealth Advisors LLC acquired a new position in shares of Infinera during the 2nd quarter worth $104,000. Headlands Technologies LLC bought a new stake in shares of Infinera during the 2nd quarter worth $112,000. Algert Global LLC acquired a new stake in Infinera in the second quarter valued at about $128,000. Finally, Palumbo Wealth Management LLC grew its position in Infinera by 8.4% in the third quarter. Palumbo Wealth Management LLC now owns 23,954 shares of the communications equipment provider's stock valued at $162,000 after acquiring an additional 1,850 shares during the last quarter. Institutional investors own 97.54% of the company's stock.

About Infinera

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.