Zacks: Westell Technologies Inc. (WSTL) Receives Average Recommendation of “Strong Buy” from Brokerages

Westell Technologies Inc. (NASDAQ:WSTL) has earned a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy recommendation.

Brokerages have set a 1-year consensus price objective of $5.00 for the company and are forecasting that the company will post $0.02 earnings per share for the current quarter, according to Zacks. Zacks has also given Westell Technologies an industry rank of 66 out of 255 based on the ratings given to related companies.

A number of equities research analysts recently weighed in on the company. Zacks Investment Research raised Westell Technologies from a “sell” rating to a “hold” rating in a research report on Thursday, October 4th. TheStreet raised Westell Technologies from a “d” rating to a “c-” rating in a research report on Thursday, August 2nd.

Shares of WSTL stock opened at $2.05 on Monday. Westell Technologies has a 1-year low of $2.03 and a 1-year high of $4.60. The stock has a market cap of $32.01 million, a P/E ratio of 10.25 and a beta of 1.33.

Westell Technologies (NASDAQ:WSTL) last issued its quarterly earnings data on Thursday, November 1st. The communications equipment provider reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.08). Westell Technologies had a negative net margin of 3.96% and a positive return on equity of 3.09%. The company had revenue of $10.11 million for the quarter, compared to the consensus estimate of $13.78 million. On average, equities analysts expect that Westell Technologies will post 0.18 EPS for the current year.

Hedge funds have recently modified their holdings of the stock. Alambic Investment Management L.P. boosted its holdings in Westell Technologies by 95.9% in the second quarter. Alambic Investment Management L.P. now owns 94,137 shares of the communications equipment provider’s stock worth $268,000 after acquiring an additional 46,080 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in Westell Technologies by 44.6% in the second quarter. Acadian Asset Management LLC now owns 136,818 shares of the communications equipment provider’s stock worth $390,000 after acquiring an additional 42,194 shares in the last quarter. Macquarie Group Ltd. boosted its holdings in Westell Technologies by 36.3% in the second quarter. Macquarie Group Ltd. now owns 119,785 shares of the communications equipment provider’s stock worth $341,000 after acquiring an additional 31,923 shares in the last quarter. Finally, BlackRock Inc. boosted its holdings in Westell Technologies by 10.5% in the second quarter. BlackRock Inc. now owns 354,068 shares of the communications equipment provider’s stock worth $1,010,000 after acquiring an additional 33,764 shares in the last quarter. 21.04% of the stock is currently owned by institutional investors.

Westell Technologies Company Profile

Westell Technologies, Inc, through its subsidiary, Westell, Inc, designs and distributes telecommunications products to telephone companies in the United States. The company operates through three segments: In-Building Wireless (IBW), Intelligent Site Management and Services (ISMS), and Communications Network Solutions (CNS).

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