Digi International Inc. (DGII) Downgraded by Zacks Investment Research to “Hold”
Digi International Inc. (NASDAQ:DGII) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday.
According to Zacks, “Digi International Inc. is a worldwide provider of communications hardware and software delivering seamless connectivity solutions for peripheral server-based remote access and local area networking markets. The Company operates exclusively in a single business segment and sells its products through a global network of distributors, systems integrators, value-added resellers and original equipment manufacturers. They also sell direct to select accounts and the government. “
Several other brokerages have also weighed in on DGII. Sidoti lowered Digi International from a “buy” rating to a “neutral” rating in a report on Wednesday, August 24th. Canaccord Genuity restated a “buy” rating and issued a $17.00 price objective on shares of Digi International in a report on Tuesday, September 13th.
Shares of Digi International (NASDAQ:DGII) traded up 1.57% during midday trading on Wednesday, reaching $11.67. 97,527 shares of the company were exchanged. The firm has a market capitalization of $302.96 million, a P/E ratio of 19.16 and a beta of 1.27. The firm has a 50-day moving average of $11.69 and a 200 day moving average of $10.64. Digi International has a 52 week low of $7.70 and a 52 week high of $13.53.
Digi International (NASDAQ:DGII) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.06. Digi International had a return on equity of 4.23% and a net margin of 7.58%. The company earned $52.13 million during the quarter, compared to analysts’ expectations of $52.60 million. During the same quarter in the prior year, the business posted $0.08 earnings per share. The company’s revenue for the quarter was up .2% compared to the same quarter last year. On average, equities research analysts expect that Digi International will post $0.46 EPS for the current year.
Large investors have recently made changes to their positions in the company. Gamco Investors INC. ET AL increased its stake in shares of Digi International by 1.8% in the second quarter. Gamco Investors INC. ET AL now owns 11,040 shares of the company’s stock valued at $118,000 after buying an additional 200 shares in the last quarter. Arizona State Retirement System increased its stake in shares of Digi International by 6.5% in the first quarter. Arizona State Retirement System now owns 13,141 shares of the company’s stock valued at $124,000 after buying an additional 800 shares in the last quarter. Bowling Portfolio Management LLC acquired a new stake in shares of Digi International during the first quarter valued at about $128,000. Acrospire Investment Management LLC increased its stake in shares of Digi International by 116.3% in the second quarter. Acrospire Investment Management LLC now owns 11,905 shares of the company’s stock valued at $128,000 after buying an additional 6,400 shares in the last quarter. Finally, Thrivent Financial for Lutherans increased its stake in shares of Digi International by 6.2% in the second quarter. Thrivent Financial for Lutherans now owns 12,560 shares of the company’s stock valued at $135,000 after buying an additional 730 shares in the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.
About Digi International
Digi International Inc is a provider of Internet of Things (IoT) networking hardware products and solutions that enable the connection, monitoring and control of local or remote physical assets by electronic means. The Company’s products and solutions are deployed via both wired and, ever increasingly, wireless networks.
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