Fabrinet (FN) Given Consensus Rating of “Buy” by Brokerages
Shares of Fabrinet (NYSE:FN) have been assigned an average recommendation of “Buy” from the seven brokerages that are presently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $53.40.
A number of brokerages recently weighed in on FN. Zacks Investment Research cut Fabrinet from a “buy” rating to a “hold” rating and set a $58.00 price objective for the company. in a research note on Thursday, January 24th. ValuEngine upgraded Fabrinet from a “hold” rating to a “buy” rating in a research note on Saturday. Piper Jaffray Companies upped their price objective on Fabrinet from $63.00 to $67.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. Finally, Needham & Company LLC restated a “buy” rating and set a $62.00 price objective (up from $58.00) on shares of Fabrinet in a research note on Tuesday, December 18th.
In related news, Director Thomas F. Kelly sold 3,000 shares of the company’s stock in a transaction on Thursday, February 14th. The stock was sold at an average price of $54.79, for a total transaction of $164,370.00. Following the completion of the sale, the director now directly owns 41,323 shares in the company, valued at approximately $2,264,087.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David T. Mitchell sold 30,000 shares of the company’s stock in a transaction on Thursday, February 7th. The stock was sold at an average price of $52.49, for a total value of $1,574,700.00. Following the sale, the director now owns 73,748 shares of the company’s stock, valued at $3,871,032.52. The disclosure for this sale can be found here. Insiders have sold a total of 132,518 shares of company stock valued at $7,280,154 over the last 90 days. 1.90% of the stock is currently owned by company insiders.
Shares of FN stock traded down $0.29 during mid-day trading on Monday, hitting $58.69. The stock had a trading volume of 245,077 shares, compared to its average volume of 412,205. Fabrinet has a 12-month low of $27.69 and a 12-month high of $59.94. The stock has a market capitalization of $2.17 billion, a price-to-earnings ratio of 19.69, a P/E/G ratio of 1.38 and a beta of 0.58. The company has a current ratio of 3.19, a quick ratio of 2.26 and a debt-to-equity ratio of 0.08.
Fabrinet (NYSE:FN) last issued its earnings results on Monday, February 4th. The technology company reported $0.97 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.05. Fabrinet had a return on equity of 14.91% and a net margin of 7.08%. The business had revenue of $403.10 million during the quarter, compared to analysts’ expectations of $386.22 million. During the same period in the prior year, the business earned $0.72 EPS. The business’s revenue for the quarter was up 19.6% compared to the same quarter last year. Research analysts predict that Fabrinet will post 3.22 EPS for the current fiscal year.
Fabrinet provides optical packaging and precision optical, electro-mechanical, and electronic manufacturing services in North America, the Asia-Pacific, and Europe. The company offers a range of optical and electro-mechanical capabilities in the manufacturing process, including process design and engineering, supply chain management, manufacturing, printed circuit board assembly, packaging, integration, final assembly, and test.
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