StockNews.com Begins Coverage on Infinera (NASDAQ:INFN)

StockNews.com initiated coverage on shares of Infinera (NASDAQ:INFN) in a report released on Friday morning. The firm issued a sell rating on the communications equipment provider’s stock.

Several other brokerages have also recently issued reports on INFN. Morgan Stanley upped their target price on shares of Infinera from $5.40 to $6.65 and gave the company an equal weight rating in a report on Friday, June 28th. Craig Hallum reiterated a hold rating and set a $6.65 target price (down previously from $12.00) on shares of Infinera in a research report on Monday, July 1st. Rosenblatt Securities cut Infinera from a buy rating to a neutral rating and decreased their target price for the company from $8.00 to $6.65 in a research report on Monday, August 5th. Berenberg Bank upgraded Infinera to a hold rating in a research note on Monday, August 5th. Finally, B. Riley decreased their price objective on Infinera from $9.00 to $6.65 and set a buy rating for the company in a report on Monday, August 5th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Infinera has a consensus rating of Hold and a consensus price target of $7.09.

Infinera Stock Performance

Shares of INFN stock opened at $6.75 on Friday. The company has a market cap of $1.58 billion, a P/E ratio of -19.85 and a beta of 1.71. The firm has a fifty day moving average price of $6.19 and a 200 day moving average price of $5.70. The company has a current ratio of 1.57, a quick ratio of 0.94 and a debt-to-equity ratio of 5.02. Infinera has a 12 month low of $2.82 and a 12 month high of $6.92.

Infinera (NASDAQ:INFN) last issued its earnings results on Friday, August 2nd. The communications equipment provider reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.02. The business had revenue of $342.70 million for the quarter, compared to analyst estimates of $331.71 million. Infinera had a negative return on equity of 31.63% and a negative net margin of 7.10%. The business’s revenue for the quarter was down 8.9% compared to the same quarter last year. Sell-side analysts predict that Infinera will post -0.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Water Island Capital LLC purchased a new position in Infinera in the 2nd quarter valued at $9,196,000. Algert Global LLC purchased a new stake in shares of Infinera during the 2nd quarter worth $128,000. Shellback Capital LP purchased a new position in shares of Infinera in the 2nd quarter valued at about $5,874,000. The Manufacturers Life Insurance Company lifted its stake in shares of Infinera by 4.3% in the second quarter. The Manufacturers Life Insurance Company now owns 102,869 shares of the communications equipment provider’s stock valued at $626,000 after purchasing an additional 4,266 shares during the period. Finally, AQR Capital Management LLC grew its position in Infinera by 22.4% during the second quarter. AQR Capital Management LLC now owns 89,282 shares of the communications equipment provider’s stock worth $544,000 after buying an additional 16,332 shares during the period. Institutional investors and hedge funds own 97.54% of the company’s stock.

Infinera Company Profile

Infinera Corporation provides optical transport networking equipment, software, and services worldwide. The company's product portfolio includes Infinera Groove series for modular and sled-based platforms to support a various transport network applications; Infinera 7300 series, an SDN-ready coherent optical transport system; Infinera FlexILS open optical line system that connects various Infinera and third-party terminal equipment platforms over long-distance fiber optic cable providing switching, multiplexing, amplification, and management channels; and Infinera 7090 and 7100 series for transport platforms.