Zacks Investment Research upgraded shares of EXFO Inc (NASDAQ:EXFO) (TSE:EXF) from a sell rating to a hold rating in a research note issued to investors on Wednesday morning.

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. “

Several other equities analysts have also weighed in on EXFO. Canaccord Genuity restated a hold rating and set a $5.75 price target on shares of EXFO in a research report on Tuesday, May 2nd. Royal Bank Of Canada dropped their price objective on shares of EXFO from $5.50 to $5.25 and set a sector perform rating on the stock in a report on Friday, June 30th. TheStreet downgraded shares of EXFO from a b rating to a c+ rating in a report on Friday, July 7th. BMO Capital Markets set a $6.00 price objective on shares of EXFO and gave the company a hold rating in a report on Saturday, July 1st. Finally, Northland Securities set a $6.00 price objective on shares of EXFO and gave the company a buy rating in a report on Saturday, July 1st. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $5.63.

Shares of EXFO (EXFO) traded down 7.45% during midday trading on Wednesday, hitting $4.35. 42,162 shares of the stock traded hands. EXFO has a 52 week low of $3.40 and a 52 week high of $6.15. The firm has a 50-day moving average price of $4.15 and a 200-day moving average price of $4.81. The stock has a market capitalization of $237.96 million, a P/E ratio of 108.75 and a beta of 0.51.

EXFO (NASDAQ:EXFO) (TSE:EXF) last released its quarterly earnings data on Thursday, June 29th. The communications equipment provider reported ($0.03) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by $0.06. EXFO had a return on equity of 3.25% and a net margin of 0.93%. The business had revenue of $58.50 million for the quarter, compared to analyst estimates of $61.61 million. The business’s revenue for the quarter was down 3.8% compared to the same quarter last year.

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Several hedge funds and other institutional investors have recently modified their holdings of EXFO. Renaissance Technologies LLC boosted its position in shares of EXFO by 11.8% in the first quarter. Renaissance Technologies LLC now owns 1,537,890 shares of the communications equipment provider’s stock valued at $7,997,000 after buying an additional 162,510 shares in the last quarter. TD Asset Management Inc. purchased a new position in shares of EXFO during the first quarter valued at about $1,105,000. Acadian Asset Management LLC boosted its position in shares of EXFO by 1,114.1% in the first quarter. Acadian Asset Management LLC now owns 86,200 shares of the communications equipment provider’s stock valued at $451,000 after buying an additional 79,100 shares in the last quarter. Hillsdale Investment Management Inc. boosted its position in shares of EXFO by 20.7% in the first quarter. Hillsdale Investment Management Inc. now owns 187,000 shares of the communications equipment provider’s stock valued at $980,000 after buying an additional 32,100 shares in the last quarter. Finally, White Pine Capital LLC boosted its position in shares of EXFO by 28.4% in the second quarter. White Pine Capital LLC now owns 177,125 shares of the communications equipment provider’s stock valued at $832,000 after buying an additional 39,175 shares in the last quarter. Hedge funds and other institutional investors own 16.99% of the company’s stock.

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.

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