Exfo (NASDAQ:EXFO) Lifted to Buy at Zacks Investment Research

Share on StockTwits

Zacks Investment Research upgraded shares of Exfo (NASDAQ:EXFO) (TSE:EXF) from a hold rating to a buy rating in a research note released on Wednesday, Zacks.com reports. Zacks Investment Research currently has $4.50 price target on the communications equipment provider’s stock.

According to Zacks, “EXFO Inc. is a provider of next-generation test and service assurance solutions for wireless and wireline network operators and equipment manufacturers in the global telecommunications industry. The Company operates in two segments: Telecom Division, and the Life Sciences and Industrial Division. The Telecom Division offers a wide range of innovative solutions to assess optical networks, from the core to access, as well as next-generation IP infrastructures and related triple-play services. The Life Sciences and Industrial Division offers solutions in medical device and opto-electronics assembly, fluorescence microscopy and other life science sectors. EXFO Inc., formerly known as EXFO Electro-Optical Engineering Inc., is headquartered in Quebec, Canada. “

Separately, ValuEngine lowered shares of WideOpenWest from a hold rating to a sell rating in a research report on Friday, June 28th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Exfo has an average rating of Hold and an average target price of $4.30.

Shares of NASDAQ EXFO opened at $3.83 on Wednesday. Exfo has a 1 year low of $2.66 and a 1 year high of $4.97. The stock has a market cap of $196.64 million, a PE ratio of 42.56 and a beta of 1.08. The company’s 50-day simple moving average is $3.91. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.97 and a current ratio of 1.42.

Exfo (NASDAQ:EXFO) (TSE:EXF) last issued its quarterly earnings results on Wednesday, July 10th. The communications equipment provider reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). The business had revenue of $73.59 million for the quarter, compared to analysts’ expectations of $74.40 million. Exfo had a negative net margin of 2.17% and a positive return on equity of 3.65%. On average, research analysts anticipate that Exfo will post 0.2 earnings per share for the current year.

An institutional investor recently raised its position in Exfo stock. CLARET ASSET MANAGEMENT Corp increased its holdings in shares of Exfo Inc (NASDAQ:EXFO) (TSE:EXF) by 7.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 101,764 shares of the communications equipment provider’s stock after buying an additional 7,233 shares during the quarter. CLARET ASSET MANAGEMENT Corp owned 0.18% of Exfo worth $374,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 9.68% of the company’s stock.

Exfo Company Profile

EXFO Inc develops, manufactures, and markets smarter network test, monitoring, and analytics solutions for communications service providers, network equipment manufacturers, and Web-scale operators. It offers field network testing products, such as copper/DSL testing, dispersion analysis, fiber inspection, live fiber detection, network protocol testing, optical power and loss testing, ORL tester, optical time domain reflectometry and iOLM, spectral testing, test function virtualization, and test reporting and automation products, as well as modular test platforms.

Read More: Cost of equity and a company’s balance sheet

Get a free copy of the Zacks research report on Exfo (EXFO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Exfo (NASDAQ:EXFO)

Receive News & Ratings for Exfo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Exfo and related companies with MarketBeat.com's FREE daily email newsletter.