Zacks Investment Research Lowers Exfo (NASDAQ:EXFO) to Hold

Exfo (NASDAQ:EXFO) (TSE:EXF) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Thursday, 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. “

Several other equities analysts have also issued reports on EXFO. ValuEngine lowered WideOpenWest from a “hold” rating to a “sell” rating in a research note on Friday, June 28th. Northland Securities increased their target price on Coupa Software from $85.00 to $150.00 and gave the stock an “average” rating in a research note on Thursday. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $4.29.

Shares of Exfo stock traded down $0.35 during trading hours on Thursday, hitting $3.55. The company’s stock had a trading volume of 84,022 shares, compared to its average volume of 31,269. Exfo has a twelve month low of $2.66 and a twelve month high of $4.97. The company’s fifty day simple moving average is $3.92. The company has a market cap of $221.01 million, a PE ratio of 39.44 and a beta of 1.08. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.97 and a current ratio of 1.42.

Exfo (NASDAQ:EXFO) (TSE:EXF) last announced its quarterly earnings results on Wednesday, July 10th. The communications equipment provider reported $0.04 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($0.01). Exfo had a negative net margin of 4.29% and a positive return on equity of 1.71%. The business had revenue of $73.59 million during the quarter, compared to analyst estimates of $74.40 million. Equities analysts predict that Exfo will post 0.2 earnings per share for the current year.

A hedge fund recently raised its stake in Exfo stock. CLARET ASSET MANAGEMENT Corp raised its stake in Exfo Inc (NASDAQ:EXFO) (TSE:EXF) by 7.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 101,764 shares of the communications equipment provider’s stock after purchasing an additional 7,233 shares during the period. CLARET ASSET MANAGEMENT Corp owned about 0.18% of Exfo worth $374,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 9.68% of the stock is owned by 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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