Exfo (NASDAQ:EXFO) Raised to “Hold” at Zacks Investment Research

Exfo (NASDAQ:EXFO) (TSE:EXF) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday, Zacks.com reports.

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. “

EXFO has been the topic of a number of other reports. National Bank Financial lowered their price target on shares of Exfo from $4.25 to $3.75 and set a “sector perform” rating on the stock in a research report on Wednesday. BidaskClub raised shares of Exfo from a “sell” rating to a “hold” rating in a research report on Tuesday, January 7th. ValuEngine raised shares of Exfo from a “sell” rating to a “hold” rating in a research report on Saturday, February 15th. CIBC reissued a “hold” rating and issued a $5.00 target price on shares of Exfo in a report on Wednesday, January 8th. Finally, Canaccord Genuity reissued a “hold” rating and issued a $4.00 target price on shares of Exfo in a report on Tuesday. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $4.54.

NASDAQ:EXFO traded down $0.10 during mid-day trading on Wednesday, reaching $3.55. 28,353 shares of the company’s stock were exchanged, compared to its average volume of 69,737. Exfo has a one year low of $3.20 and a one year high of $4.97. The firm has a market capitalization of $221.09 million, a PE ratio of 39.44 and a beta of 1.23. The business’s fifty day simple moving average is $4.04 and its two-hundred day simple moving average is $4.07. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.96 and a current ratio of 1.42.

Exfo (NASDAQ:EXFO) (TSE:EXF) last released its quarterly earnings results on Tuesday, January 7th. The communications equipment provider reported $0.04 EPS for the quarter, hitting analysts’ consensus estimates of $0.04. Exfo had a net margin of 1.69% and a return on equity of 6.28%. The business had revenue of $73.55 million for the quarter, compared to analyst estimates of $71.25 million. As a group, equities research analysts forecast that Exfo will post 0.24 EPS for the current year.

A number of hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC increased its holdings in Exfo by 0.7% in the 4th quarter. Renaissance Technologies LLC now owns 1,119,578 shares of the communications equipment provider’s stock valued at $5,177,000 after buying an additional 7,738 shares during the period. Essex Investment Management Co. LLC increased its holdings in Exfo by 4.8% in the 4th quarter. Essex Investment Management Co. LLC now owns 371,198 shares of the communications equipment provider’s stock valued at $1,716,000 after buying an additional 17,146 shares during the period. Fiera Capital Corp increased its holdings in Exfo by 12.7% in the 4th quarter. Fiera Capital Corp now owns 354,600 shares of the communications equipment provider’s stock valued at $1,639,000 after buying an additional 40,000 shares during the period. FIL Ltd bought a new position in Exfo in the 4th quarter valued at about $604,000. Finally, BlackRock Inc. bought a new position in Exfo in the 2nd quarter valued at about $107,000. 10.19% of the stock is currently owned by hedge funds and other institutional investors.

About Exfo

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.

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