Westell Technologies Inc. (NASDAQ:WSTL) has received an average broker rating score of 1.00 (Strong Buy) from the one brokers that cover the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy rating.
Brokerages have set a 12-month consensus target price of $5.00 for the company and are forecasting that the company will post $0.02 EPS for the current quarter, according to Zacks. Zacks has also assigned Westell Technologies an industry rank of 69 out of 257 based on the ratings given to its competitors.
Several equities analysts recently weighed in on the stock. TheStreet raised shares of Westell Technologies from a “d” rating to a “c-” rating in a research note on Thursday, August 2nd. Zacks Investment Research upgraded shares of Westell Technologies from a “sell” rating to a “hold” rating in a research report on Thursday, October 4th.
A number of hedge funds have recently added to or reduced their stakes in the business. Macquarie Group Ltd. lifted its position in Westell Technologies by 36.3% during the second quarter. Macquarie Group Ltd. now owns 119,785 shares of the communications equipment provider’s stock valued at $341,000 after purchasing an additional 31,923 shares during the last quarter. Alambic Investment Management L.P. lifted its position in Westell Technologies by 95.9% during the second quarter. Alambic Investment Management L.P. now owns 94,137 shares of the communications equipment provider’s stock valued at $268,000 after purchasing an additional 46,080 shares during the last quarter. BlackRock Inc. lifted its position in Westell Technologies by 10.5% during the second quarter. BlackRock Inc. now owns 354,068 shares of the communications equipment provider’s stock valued at $1,010,000 after purchasing an additional 33,764 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its position in Westell Technologies by 44.6% during the second quarter. Acadian Asset Management LLC now owns 136,818 shares of the communications equipment provider’s stock valued at $390,000 after purchasing an additional 42,194 shares during the last quarter. Institutional investors and hedge funds own 19.60% of the company’s stock.
NASDAQ:WSTL traded up $0.02 during mid-day trading on Wednesday, hitting $1.95. 32,436 shares of the company’s stock traded hands, compared to its average volume of 52,930. The company has a market cap of $30.15 million, a price-to-earnings ratio of 9.75 and a beta of 1.33. Westell Technologies has a 12 month low of $1.87 and a 12 month high of $4.60.
Westell Technologies (NASDAQ:WSTL) last announced its quarterly earnings data on Thursday, November 1st. The communications equipment provider reported ($0.03) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.08). The firm had revenue of $10.11 million during the quarter, compared to analysts’ expectations of $13.78 million. Westell Technologies had a positive return on equity of 3.12% and a negative net margin of 3.96%. On average, research analysts predict that Westell Technologies will post 0.18 EPS for the current fiscal year.
About Westell Technologies
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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