RF Industries (NASDAQ:RFIL) Issues Earnings Results

RF Industries (NASDAQ:RFIL) issued its earnings results on Monday. The electronics maker reported $0.19 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.01), FiscalAI reports. RF Industries had a net margin of 1.70% and a return on equity of 12.79%. The firm had revenue of $23.96 million during the quarter, compared to the consensus estimate of $23.28 million.

RF Industries Price Performance

Shares of RF Industries stock opened at $10.32 on Monday. The firm has a market cap of $111.97 million, a price-to-earnings ratio of 73.72 and a beta of 1.29. The company has a 50-day moving average of $12.60 and a 200 day moving average of $14.05. RF Industries has a 1 year low of $5.54 and a 1 year high of $22.30.

Hedge Funds Weigh In On RF Industries

Institutional investors and hedge funds have recently made changes to their positions in the business. Goldman Sachs Group Inc. purchased a new stake in shares of RF Industries in the first quarter worth $56,000. Centiva Capital LP bought a new position in shares of RF Industries during the 3rd quarter valued at approximately $144,000. Two Sigma Investments LP purchased a new position in shares of RF Industries in the 3rd quarter worth $169,000. NewEdge Advisors LLC lifted its holdings in shares of RF Industries by 984.2% in the 3rd quarter. NewEdge Advisors LLC now owns 21,684 shares of the electronics maker’s stock valued at $178,000 after acquiring an additional 19,684 shares during the last quarter. Finally, Trexquant Investment LP purchased a new position in shares of RF Industries in the 4th quarter worth approximately $128,000. Hedge funds and other institutional investors own 23.49% of the company’s stock.

Wall Street Analyst Weigh In

RFIL has been the topic of a number of recent research reports. B. Riley Financial upgraded shares of RF Industries from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $18.00 to $15.00 in a report on Friday, August 21st. Lake Street Capital assumed coverage on shares of RF Industries in a report on Thursday, August 13th. They issued a “buy” rating and a $19.00 price objective on the stock. Weiss Ratings downgraded RF Industries from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday. Zacks Research downgraded RF Industries from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 20th. Finally, Wall Street Zen downgraded RF Industries from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 25th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, RF Industries presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.00.

About RF Industries

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.