BidaskClub cut shares of Infinera (NASDAQ:INFN) from a strong-buy rating to a buy rating in a report issued on Wednesday morning, BidAskClub reports.

A number of other research analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Infinera from a hold rating to a sell rating in a report on Tuesday, August 13th. Stifel Nicolaus set a $6.00 target price on shares of Infinera and gave the company a hold rating in a research note on Thursday, September 12th. Needham & Company LLC reissued a buy rating and issued a $9.00 price objective on shares of Infinera in a research note on Monday, September 30th. Rosenblatt Securities reiterated a hold rating and set a $6.00 target price on shares of Infinera in a report on Wednesday, November 13th. Finally, JPMorgan Chase & Co. upgraded Infinera from an underweight rating to a neutral rating and set a $7.00 price target on the stock in a report on Wednesday, November 13th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. Infinera has an average rating of Hold and a consensus target price of $6.93.

NASDAQ:INFN traded down $0.13 on Wednesday, hitting $5.93. The stock had a trading volume of 49,657 shares, compared to its average volume of 2,588,458. The business’s 50-day simple moving average is $5.90 and its two-hundred day simple moving average is $4.54. The company has a quick ratio of 0.89, a current ratio of 1.47 and a debt-to-equity ratio of 0.90. The stock has a market cap of $1.10 billion, a price-to-earnings ratio of -9.27 and a beta of 0.60. Infinera has a 52-week low of $2.80 and a 52-week high of $6.84.

Infinera (NASDAQ:INFN) last announced its quarterly earnings data on Tuesday, November 12th. The communications equipment provider reported ($0.17) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.17). The firm had revenue of $325.34 million during the quarter, compared to analysts’ expectations of $327.09 million. Infinera had a negative net margin of 36.15% and a negative return on equity of 34.56%. The company’s revenue for the quarter was up 62.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.04) earnings per share. As a group, equities research analysts anticipate that Infinera will post -0.9 EPS for the current year.

Hedge funds have recently modified their holdings of the business. Millennium Management LLC acquired a new position in Infinera in the 3rd quarter valued at about $55,000. Point72 Asset Management L.P. acquired a new stake in Infinera in the third quarter valued at $56,000. Ladenburg Thalmann Financial Services Inc. lifted its stake in shares of Infinera by 95.2% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 22,010 shares of the communications equipment provider’s stock valued at $66,000 after purchasing an additional 10,733 shares during the period. US Bancorp DE lifted its position in shares of Infinera by 20.1% during the 2nd quarter. US Bancorp DE now owns 24,211 shares of the communications equipment provider’s stock valued at $70,000 after acquiring an additional 4,051 shares during the period. Finally, Marshall Wace North America L.P. purchased a new stake in Infinera during the second quarter worth $76,000. 84.41% of the stock is currently owned by institutional investors.

Infinera Company Profile

Infinera Corporation provides optical transport networking equipment and software and services worldwide. The company's product portfolio consists of Infinera DTN-X Family of terabit-class transport network platforms, including the XTC Series, XTS Series, and XT Series; Infinera DTN-X XTC series multi-terabit packet optical transport platforms that integrate digital OTN switching and optical WDM transmission; and Infinera DTN-X XT series for terrestrial applications and XTS series for subsea applications.

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Analyst Recommendations for Infinera (NASDAQ:INFN)

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