EXFO Inc (EXFO) Upgraded to Hold at Zacks Investment Research

EXFO Inc (NASDAQ:EXFO) (TSE:EXF) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday.

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 equities research analysts also recently issued research reports about the company. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $5.25 price objective on shares of EXFO in a research report on Monday, October 16th. Canaccord Genuity reaffirmed a “hold” rating and issued a $4.75 price objective on shares of EXFO in a research report on Sunday, October 15th. BMO Capital Markets set a $6.00 price objective on EXFO and gave the company a “hold” rating in a research report on Friday, October 13th. Northland Securities set a $6.00 price objective on EXFO and gave the company a “buy” rating in a research report on Wednesday, October 11th. Finally, National Bank Financial lowered their price objective on EXFO from $5.50 to $4.75 and set a “sector perform” rating for the company in a research report on Thursday, October 26th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $5.35.

Shares of EXFO (EXFO) traded down $0.15 during mid-day trading on Tuesday, reaching $4.15. The company had a trading volume of 1,900 shares, compared to its average volume of 52,531. The firm has a market capitalization of $229.89, a PE ratio of 22.63 and a beta of 0.43. EXFO has a 52-week low of $3.72 and a 52-week high of $6.15.

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Hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. lifted its stake in shares of EXFO by 107.7% during the third quarter. JPMorgan Chase & Co. now owns 28,553 shares of the communications equipment provider’s stock worth $107,000 after purchasing an additional 14,803 shares in the last quarter. White Pine Capital LLC lifted its stake in shares of EXFO by 28.4% during the second quarter. White Pine Capital LLC now owns 177,125 shares of the communications equipment provider’s stock worth $832,000 after purchasing an additional 39,175 shares in the last quarter. TD Asset Management Inc. lifted its stake in shares of EXFO by 11.1% during the second quarter. TD Asset Management Inc. now owns 234,700 shares of the communications equipment provider’s stock worth $1,093,000 after purchasing an additional 23,500 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in shares of EXFO by 11.8% during the first quarter. Renaissance Technologies LLC now owns 1,537,890 shares of the communications equipment provider’s stock worth $7,997,000 after purchasing an additional 162,510 shares in the last quarter. 16.98% of the stock is owned by hedge funds and other institutional investors.

About EXFO

EXFO Inc is a Canada-based company, which provides communications service providers (CSPs) and data center, cloud and Web-scale operators with field test, service assurance and analytics solutions to ensure the deployment, maintenance and management of physical, virtual, fixed and mobile networks. It focuses on network infrastructures: fourth generation (4G)/long-term evolution (LTE), wireless backhaul, small cells and distributed antenna systems (DAS), 100G network upgrades and fiber-to-the-home (FTTH)/fiber-to-the-curb (FTTC)/fiber-to-the-node (FTTN) deployments.

Analyst Recommendations for EXFO (NASDAQ:EXFO)

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