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

Zacks Investment Research downgraded shares of Exfo (NASDAQ:EXFO) (TSE:EXF) from a buy rating to a hold rating in a research report released on Thursday morning, 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. “

Other analysts also recently issued reports about the company. ValuEngine downgraded WideOpenWest from a hold rating to a sell rating in a research report 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 report on Thursday. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Exfo has a consensus rating of Hold and an average price target of $4.30.

Shares of NASDAQ:EXFO opened at $3.83 on Thursday. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.42 and a quick ratio of 0.97. Exfo has a 52-week low of $2.66 and a 52-week high of $4.97. The firm has a fifty day moving average of $3.91. The stock has a market capitalization of $212.15 million, a P/E ratio of 34.82 and a beta of 1.08.

Exfo (NASDAQ:EXFO) (TSE:EXF) last issued its quarterly earnings data on Wednesday, July 10th. The communications equipment provider reported $0.04 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 company had revenue of $73.59 million during the quarter, compared to analysts’ expectations of $74.40 million. Sell-side analysts forecast that Exfo will post 0.18 EPS for the current year.

A hedge fund recently raised its stake in Exfo stock. CLARET ASSET MANAGEMENT Corp increased its holdings in shares of Exfo Inc (NASDAQ:EXFO) (TSE:EXF) by 7.7% during the 1st quarter, according to its most recent Form 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 as of its most recent filing with the Securities and Exchange Commission. 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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