Northland Securities Reaffirms Buy Rating for Exfo (NASDAQ:EXFO)

Northland Securities restated their buy rating on shares of Exfo (NASDAQ:EXFO) (TSE:EXF) in a research note released on Thursday morning, reports. Northland Securities currently has a $5.50 price objective on the communications equipment provider’s stock.

“We maintain our OP rating and $5.50 PT on EXFO shares after an FQ3 that featured strong optical test growth driven by 100G-400G solutions and much better than expected EBITDA on lower opex driven by the company’s recently completed restructuring, and despite a lower than expected top line outlook for FQ4 driven by slowness in carrier spending on the Software/ Service side.”,” Northland Securities’ analyst commented.

Other analysts have also recently issued reports about the company. Zacks Investment Research cut ExlService from a hold rating to a sell rating in a research report on Wednesday. ValuEngine cut WideOpenWest from a hold rating to a sell rating in a research report on Friday, June 28th. Six equities research analysts have rated the stock with a hold rating and one has given 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 Thursday. The company has a market cap of $212.15 million, a P/E ratio of 34.82 and a beta of 1.08. Exfo has a 12-month low of $2.66 and a 12-month high of $4.97. The company has a current ratio of 1.42, a quick ratio of 0.97 and a debt-to-equity ratio of 0.02. The business has a 50 day moving average of $3.91.

Exfo (NASDAQ:EXFO) (TSE:EXF) last posted its earnings results on Wednesday, July 10th. The communications equipment provider reported $0.04 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.01). Exfo had a negative net margin of 2.17% and a positive return on equity of 3.65%. The business had revenue of $73.59 million during the quarter, compared to analyst estimates of $74.40 million. Equities research analysts forecast that Exfo will post 0.18 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 Exfo Inc (NASDAQ:EXFO) (TSE:EXF) by 7.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm 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 about 0.18% of Exfo worth $374,000 at the end of the most recent reporting period. 9.68% of the stock is owned by institutional investors.

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.

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Analyst Recommendations for Exfo (NASDAQ:EXFO)

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