Digi International Inc. (DGII) Rating Increased to Hold at Zacks Investment Research
Digi International Inc. (NASDAQ:DGII) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Thursday.
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. “
DGII has been the subject of several other research reports. Canaccord Genuity reiterated a “buy” rating on shares of Digi International in a research report on Friday, October 28th. Sidoti cut Digi International from a “buy” rating to a “neutral” rating in a research report on Wednesday, August 24th.
Digi International (NASDAQ:DGII) opened at 11.65 on Thursday. The stock’s 50 day moving average is $10.84 and its 200 day moving average is $11.04. Digi International has a 12 month low of $7.70 and a 12 month high of $12.85. The firm has a market cap of $302.74 million, a PE ratio of 18.40 and a beta of 1.26.
Digi International (NASDAQ:DGII) last released its quarterly earnings data on Thursday, October 27th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.03. The firm earned $50.45 million during the quarter, compared to analysts’ expectations of $51.53 million. Digi International had a return on equity of 4.41% and a net margin of 8.23%. Digi International’s revenue was down 6.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.14 earnings per share. On average, equities analysts forecast that Digi International will post $0.42 earnings per share for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. US Bancorp DE boosted its stake in Digi International by 11.5% in the second quarter. US Bancorp DE now owns 29,436 shares of the company’s stock worth $315,000 after buying an additional 3,029 shares in the last quarter. Hancock Holding Co. bought a new stake in Digi International during the second quarter worth approximately $322,000. Acrospire Investment Management LLC boosted its stake in Digi International by 116.3% in the second quarter. Acrospire Investment Management LLC now owns 11,905 shares of the company’s stock worth $128,000 after buying an additional 6,400 shares in the last quarter. Nationwide Fund Advisors boosted its stake in Digi International by 7.4% in the second quarter. Nationwide Fund Advisors now owns 25,014 shares of the company’s stock worth $268,000 after buying an additional 1,717 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in Digi International by 0.5% in the second quarter. Ameriprise Financial Inc. now owns 495,024 shares of the company’s stock worth $5,312,000 after buying an additional 2,314 shares in the last quarter. Institutional investors and hedge funds own 82.56% of the company’s stock.
Digi International Company Profile
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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