Zacks Investment Research Downgrades Digi International Inc. (DGII) to Sell
Zacks Investment Research lowered shares of Digi International Inc. (NASDAQ:DGII) from a hold rating to a sell rating in a research report released on Tuesday morning.
According to Zacks, “Digi International Inc. is a leading global provider of business and mission-critical Internet of Things (IoT) products and services. They help their customers create next-generation connected products and deploy and manage critical communications infrastructures in demanding environments with high levels of security, relentless reliability and bulletproof performance. Digi International, Inc. (Digi) was formed in 1985-long before anyone coined the term the Internet of Things. They always focused on connecting things, starting with intelligent multiport serial boards for PCs. As wireless data technologies evolved, they invented right along with it, expanding their product lines with RF modules, gateways, and cellular routers to build critical communications infrastructures, plus embedded wireless system on module (SoM) and single-board computer (SBC) offerings for makers of next generation connected products. “
Other equities research analysts also recently issued reports about the stock. Canaccord Genuity reiterated a buy rating on shares of Digi International in a research report on Friday, October 27th. Sidoti downgraded Digi International from a buy rating to a neutral rating and set a $12.00 price objective for the company. in a research report on Monday, October 16th. TheStreet upgraded Digi International from a c+ rating to a b rating in a research report on Friday, October 27th. Finally, BidaskClub downgraded Digi International from a sell rating to a strong sell rating in a research report on Monday, July 31st. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. Digi International currently has a consensus rating of Hold and an average price target of $14.00.
Shares of Digi International (DGII) opened at $9.80 on Tuesday. The stock has a market cap of $258.76 million, a price-to-earnings ratio of 26.35 and a beta of 1.45.
Digi International (NASDAQ:DGII) last posted its quarterly earnings results on Thursday, October 26th. The technology company reported $0.16 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.08. Digi International had a net margin of 5.16% and a return on equity of 3.24%. The company had revenue of $45.10 million during the quarter, compared to the consensus estimate of $45.66 million. During the same period last year, the firm earned $0.14 EPS. The company’s revenue for the quarter was down 10.7% on a year-over-year basis. equities analysts predict that Digi International will post 0.25 EPS for the current year.
Several institutional investors have recently modified their holdings of DGII. Bank of New York Mellon Corp raised its position in shares of Digi International by 0.7% during the 1st quarter. Bank of New York Mellon Corp now owns 478,009 shares of the technology company’s stock worth $5,689,000 after purchasing an additional 3,433 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Digi International during the 1st quarter worth approximately $106,000. Arizona State Retirement System raised its position in shares of Digi International by 3.0% during the 1st quarter. Arizona State Retirement System now owns 13,741 shares of the technology company’s stock worth $164,000 after purchasing an additional 400 shares during the last quarter. OppenheimerFunds Inc. acquired a new position in shares of Digi International during the 1st quarter worth approximately $148,000. Finally, Thrivent Financial For Lutherans raised its position in shares of Digi International by 6.3% during the 1st quarter. Thrivent Financial For Lutherans now owns 14,920 shares of the technology company’s stock worth $178,000 after purchasing an additional 880 shares during the last quarter. Hedge funds and other institutional investors own 78.19% of the company’s stock.
About Digi International
Digi International Inc is a provider of mission and business-critical machine-to-machine (M2M) and Internet-of-Things (IoT) connectivity products and services. The Company creates connected products and deploys and manages critical communications infrastructures in a range of environments. It offers four categories of hardware products: cellular routers and gateways, radio frequency (RF), embedded and network products.
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