EXFO (NASDAQ:EXFO) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of EXFO (NASDAQ:EXFO) (TSE:EXF) from a buy rating to a hold rating in a research note released on Monday morning, 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. “

A number of other analysts also recently issued reports on EXFO. National Bankshares raised their price objective on shares of EXFO from $3.50 to $4.50 and gave the stock a sector perform rating in a report on Thursday, April 8th. TD Securities raised their price objective on shares of EXFO from $3.50 to $4.00 and gave the stock a hold rating in a report on Wednesday, January 13th. BMO Capital Markets raised their price objective on shares of EXFO from $3.75 to $4.00 and gave the stock a market perform rating in a report on Wednesday, January 13th. TheStreet upgraded shares of EXFO from a d+ rating to a c- rating in a report on Tuesday, January 12th. Finally, Northland Securities restated a buy rating and set a $6.00 price objective on shares of EXFO in a report on Thursday, April 8th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $4.39.

Shares of NASDAQ EXFO opened at $3.95 on Monday. The firm has a market cap of $226.44 million, a PE ratio of -35.91 and a beta of 1.37. EXFO has a 12-month low of $2.12 and a 12-month high of $4.69. The company’s fifty day simple moving average is $4.24 and its 200 day simple moving average is $3.51. The company has a quick ratio of 0.97, a current ratio of 1.44 and a debt-to-equity ratio of 0.01.

EXFO (NASDAQ:EXFO) (TSE:EXF) last released its quarterly earnings data on Tuesday, April 6th. The communications equipment provider reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.04). EXFO had a negative net margin of 2.25% and a negative return on equity of 1.55%. On average, equities analysts predict that EXFO will post 0.28 earnings per share for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. increased its stake in shares of EXFO by 7.4% in the fourth quarter. JPMorgan Chase & Co. now owns 36,153 shares of the communications equipment provider’s stock worth $123,000 after purchasing an additional 2,501 shares in the last quarter. Wells Fargo & Company MN purchased a new position in shares of EXFO in the fourth quarter worth about $34,000. Renaissance Technologies LLC increased its stake in shares of EXFO by 2.1% in the fourth quarter. Renaissance Technologies LLC now owns 1,028,373 shares of the communications equipment provider’s stock worth $3,507,000 after purchasing an additional 21,000 shares in the last quarter. Finally, Brandes Investment Partners LP purchased a new position in shares of EXFO in the fourth quarter worth about $613,000. Hedge funds and other institutional investors own 10.87% of the company’s stock.

EXFO Company Profile

EXFO Inc provides test, monitoring, and analytics solutions for fixed and mobile network operators, web-scale companies, and optical component and network equipment manufacturers in the communications industry. It offers field network testing products, such as copper/DSL testing, dispersion analysis, fiber inspection, light sources, live fiber detection, network protocol testing, optical fiber multimeter, optical loss testing, OTDR and iOLM, power meters, spectral testing, test function virtualization, test reporting and automation, and variable attenuators products, as well as modular test platforms.

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