Exfo (NASDAQ:EXFO) Raised to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Exfo (NASDAQ:EXFO) (TSE:EXF) from a sell rating to a hold rating in a research note published on Tuesday, Zacks.com reports.

According to Zacks, “EXFO Inc. is a provider of next-generation test and service assurance solutions for wireless and wireline network operators and equipment manufacturers in the global telecommunications industry. The Company operates in two segments: Telecom Division, and the Life Sciences and Industrial Division. The Telecom Division offers a wide range of innovative solutions to assess optical networks, from the core to access, as well as next-generation IP infrastructures and related triple-play services. The Life Sciences and Industrial Division offers solutions in medical device and opto-electronics assembly, fluorescence microscopy and other life science sectors. EXFO Inc., formerly known as EXFO Electro-Optical Engineering Inc., is headquartered in Quebec, Canada. “

Other research analysts have also issued research reports about the stock. Northland Securities restated a buy rating and set a $5.50 price target on shares of Exfo in a report on Thursday, July 11th. ValuEngine lowered shares of Exfo from a buy rating to a hold rating in a report on Thursday, September 5th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $4.30.

Exfo stock traded up $0.05 during mid-day trading on Tuesday, hitting $3.76. 331 shares of the stock were exchanged, compared to its average volume of 9,779. The company has a quick ratio of 0.97, a current ratio of 1.42 and a debt-to-equity ratio of 0.02. Exfo has a 12 month low of $2.66 and a 12 month high of $4.97. The firm’s fifty day simple moving average is $3.73 and its two-hundred day simple moving average is $3.90. The stock has a market capitalization of $208.27 million, a price-to-earnings ratio of 41.78 and a beta of 1.11.

Exfo (NASDAQ:EXFO) (TSE:EXF) last released its quarterly earnings results on Wednesday, July 10th. The communications equipment provider reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.01). Exfo had a positive return on equity of 3.65% and a negative net margin of 2.17%. The firm had revenue of $73.59 million for the quarter, compared to the consensus estimate of $74.40 million. As a group, analysts forecast that Exfo will post 0.17 earnings per share for the current fiscal year.

Several hedge funds have recently made changes to their positions in EXFO. River & Mercantile Asset Management LLP acquired a new stake in shares of Exfo during the 2nd quarter worth approximately $1,444,000. Hillsdale Investment Management Inc. acquired a new stake in shares of Exfo during the 2nd quarter worth approximately $918,000. Brandes Investment Partners LP acquired a new stake in shares of Exfo during the 2nd quarter worth approximately $778,000. White Pine Capital LLC grew its position in shares of Exfo by 41.4% during the 1st quarter. White Pine Capital LLC now owns 454,815 shares of the communications equipment provider’s stock worth $1,674,000 after buying an additional 133,200 shares during the period. Finally, BlackRock Inc. acquired a new stake in shares of Exfo during the 2nd quarter worth approximately $107,000. 11.20% of the stock is owned by institutional investors.

Exfo Company Profile

EXFO Inc develops, manufactures, and markets smarter network test, monitoring, and analytics solutions for communications service providers, network equipment manufacturers, and Web-scale operators. It offers field network testing products, such as copper/DSL testing, dispersion analysis, fiber inspection, live fiber detection, network protocol testing, optical power and loss testing, ORL tester, optical time domain reflectometry and iOLM, spectral testing, test function virtualization, and test reporting and automation products, as well as modular test platforms.

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