Zacks Research Downgrades RF Industries (NASDAQ:RFIL) to Hold

RF Industries (NASDAQ:RFIL) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Thursday,Zacks.com reports.

Several other research analysts also recently issued reports on the company. Wall Street Zen downgraded RF Industries from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 25th. B. Riley Financial upgraded shares of RF Industries from a “neutral” rating to a “buy” rating and cut their target price for the stock from $18.00 to $15.00 in a research report on Friday. Lake Street Capital began coverage on shares of RF Industries in a report on Thursday, August 13th. They set a “buy” rating and a $19.00 target price on the stock. Finally, Weiss Ratings cut shares of RF Industries from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, August 11th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, RF Industries has a consensus rating of “Moderate Buy” and a consensus price target of $17.00.

RF Industries Stock Down 0.6%

Shares of RFIL opened at $11.18 on Thursday. The stock has a market cap of $121.30 million, a PE ratio of 79.86 and a beta of 1.29. RF Industries has a 12-month low of $5.54 and a 12-month high of $22.30. The business has a 50-day simple moving average of $15.26 and a two-hundred day simple moving average of $14.05.

RF Industries (NASDAQ:RFIL) last announced its quarterly earnings results on Monday, June 15th. The electronics maker reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.05. RF Industries had a return on equity of 12.79% and a net margin of 1.70%.The firm had revenue of $20.69 million for the quarter, compared to analyst estimates of $19.67 million. On average, equities research analysts expect that RF Industries will post 0.59 EPS for the current year.

Institutional Investors Weigh In On RF Industries

A number of institutional investors have recently made changes to their positions in RFIL. Arrowstreet Capital Limited Partnership acquired a new stake in shares of RF Industries in the third quarter valued at about $1,651,000. O Shaughnessy Asset Management LLC increased its position in RF Industries by 58.2% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 212,439 shares of the electronics maker’s stock valued at $1,228,000 after purchasing an additional 78,144 shares during the period. Punch & Associates Investment Management Inc. increased its position in RF Industries by 9.2% during the 4th quarter. Punch & Associates Investment Management Inc. now owns 877,150 shares of the electronics maker’s stock valued at $5,070,000 after purchasing an additional 74,091 shares during the period. Walleye Capital LLC bought a new position in RF Industries during the 1st quarter worth approximately $731,000. Finally, Sei Investments Co. raised its holdings in RF Industries by 257.2% during the 1st quarter. Sei Investments Co. now owns 84,030 shares of the electronics maker’s stock worth $866,000 after purchasing an additional 60,503 shares during the last quarter. Institutional investors own 23.49% of the company’s stock.

RF Industries Company Profile

RF Industries, Inc (NASDAQ: RFIL) is a manufacturer and supplier of connectivity products and solutions for the wireless, broadcast, cable television, data networking, defense and aerospace markets. The company specializes in both standard and custom coaxial and fiber-optic cable assemblies, connectors, adapters and test accessories designed to withstand demanding environmental conditions. Through its product portfolio, RF Industries supports applications ranging from RF signal transmission and satellite communications to industrial automation and instrumentation.

The company’s offerings include premade and build-to-print coaxial cables and assemblies, field-installable connectors, power distribution components and calibration-grade test equipment.