BidaskClub upgraded shares of Infinera (NASDAQ:INFN) from a hold rating to a buy rating in a research report sent to investors on Friday morning, BidAskClub reports.

A number of other equities research analysts also recently weighed in on the stock. Northland Securities reissued a buy rating and set a $7.00 price target on shares of Infinera in a research note on Thursday, May 9th. Goldman Sachs Group raised shares of Infinera from a neutral rating to a buy rating in a research note on Thursday, August 8th. Zacks Investment Research downgraded shares of Infinera from a hold rating to a sell rating in a research note on Tuesday, August 13th. Raymond James raised shares of Infinera from an underperform rating to a market perform rating in a research note on Thursday, August 8th. Finally, ValuEngine raised shares of Infinera from a sell rating to a hold rating in a research note on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Infinera has a consensus rating of Hold and an average target price of $6.14.

Shares of NASDAQ INFN opened at $4.86 on Friday. The company has a current ratio of 1.54, a quick ratio of 1.10 and a debt-to-equity ratio of 0.67. The company has a market cap of $871.87 million, a PE ratio of -7.59 and a beta of 0.80. The company has a 50-day moving average of $3.65 and a two-hundred day moving average of $4.03. Infinera has a 1-year low of $2.80 and a 1-year high of $9.54.

Infinera (NASDAQ:INFN) last posted its quarterly earnings results on Wednesday, August 7th. The communications equipment provider reported ($0.24) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.35) by $0.11. The business had revenue of $296.25 million during the quarter, compared to the consensus estimate of $300.40 million. Infinera had a negative net margin of 35.53% and a negative return on equity of 27.60%. Infinera’s revenue for the quarter was up 42.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.01) earnings per share. As a group, equities research analysts forecast that Infinera will post -0.91 earnings per share for the current year.

In other news, COO David W. Heard bought 25,000 shares of the stock in a transaction on Friday, May 24th. The stock was purchased at an average price of $3.13 per share, with a total value of $78,250.00. Following the completion of the purchase, the chief operating officer now owns 80,816 shares of the company’s stock, valued at $252,954.08. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.80% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of INFN. Norges Bank acquired a new position in shares of Infinera in the fourth quarter valued at approximately $2,353,000. FMR LLC boosted its holdings in shares of Infinera by 0.6% in the first quarter. FMR LLC now owns 26,354,780 shares of the communications equipment provider’s stock valued at $114,380,000 after buying an additional 150,000 shares during the period. Bank of Montreal Can boosted its holdings in shares of Infinera by 187.0% in the first quarter. Bank of Montreal Can now owns 725,709 shares of the communications equipment provider’s stock valued at $3,150,000 after buying an additional 472,849 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Infinera by 23.5% in the fourth quarter. Principal Financial Group Inc. now owns 17,281 shares of the communications equipment provider’s stock valued at $69,000 after buying an additional 3,288 shares during the period. Finally, Legal & General Group Plc boosted its holdings in shares of Infinera by 52.4% in the fourth quarter. Legal & General Group Plc now owns 75,878 shares of the communications equipment provider’s stock valued at $303,000 after buying an additional 26,077 shares during the period. 83.01% of the stock is owned by hedge funds and other 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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