MS DOWNGRADE. RETARDS.
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Infinera (NASDAQ:INFN) Hits New 12-Month Low on Analyst Downgrade
MarketBeat
5-6 minutes
 Infinera Co. ( NASDAQ:INFN - Get Rating) shares reached a new 52-week low on Tuesday after Morgan Stanley lowered their price target on the stock from $7.50 to $5.00. Morgan Stanley currently has an equal weight rating on the stock. Infinera traded as low as $4.49 and last traded at $4.52, with a volume of 27264 shares trading hands. The stock had previously closed at $4.83.
INFN has been the subject of several other research reports. MKM Partners reaffirmed a "buy" rating and set a $9.00 target price on shares of Infinera in a research note on Thursday, August 4th. Citigroup lowered their price objective on shares of Infinera from $9.00 to $6.50 in a research note on Thursday, July 14th. Finally, JPMorgan Chase & Co. cut their target price on shares of Infinera from $7.50 to $6.50 and set an "underweight" rating for the company in a research note on Thursday, July 14th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $9.25.
Institutional Inflows and OutflowsSeveral institutional investors have recently made changes to their positions in the company. HighTower Trust Services LTA acquired a new position in Infinera in the 2nd quarter worth approximately $515,000. Shay Capital LLC purchased a new stake in shares of Infinera in the first quarter valued at $87,000. Xponance Inc. acquired a new stake in shares of Infinera in the second quarter worth $55,000. Mackenzie Financial Corp purchased a new position in shares of Infinera during the first quarter valued at $89,000. Finally, XTX Topco Ltd acquired a new position in Infinera during the first quarter valued at $89,000. 92.01% of the stock is owned by hedge funds and other institutional investors.
Infinera Stock PerformanceThe stock has a market capitalization of $991.37 million, a PE ratio of -5.27 and a beta of 1.13. The company has a debt-to-equity ratio of 5.49, a quick ratio of 1.11 and a current ratio of 1.67. The firm has a 50 day moving average of $5.25 and a 200-day moving average of $5.99.
Infinera ( NASDAQ:INFN - Get Rating) last posted its quarterly earnings results on Thursday, July 28th. The communications equipment provider reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.01). The company had revenue of $357.99 million for the quarter, compared to analyst estimates of $350.62 million. Infinera had a negative return on equity of 33.09% and a negative net margin of 12.69%. The business's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.09) earnings per share. Research analysts forecast that Infinera Co. will post -0.25 earnings per share for the current year. |
