Westell Technologies, Inc. (WSTL) Upgraded to “Strong-Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Westell Technologies, Inc. (NASDAQ:WSTL) from a hold rating to a strong-buy rating in a research report sent to investors on Wednesday morning. They currently have $4.00 price objective on the communications equipment provider’s stock.
According to Zacks, “Westell Technologies Inc. designs, manufactures, markets and services a broad range of digital and analog products used by telcos to deliver services primarily over existing copper telephone wires that connect end users to a telco’s central office. The company also markets its products and services to other telecommunications and information service providers seeking direct access to end-user customers. The company’s customers include all the Regional Bell Operating Companies as well as GTE and other carriers. “
Separately, Northland Securities set a $6.00 price objective on shares of Westell Technologies and gave the stock a buy rating in a report on Friday, August 11th.
Shares of Westell Technologies (NASDAQ:WSTL) traded down $0.05 during trading hours on Wednesday, hitting $3.43. 23,032 shares of the stock traded hands, compared to its average volume of 42,082. The stock has a market capitalization of $50.49, a P/E ratio of 20.38 and a beta of 1.62. Westell Technologies has a 1-year low of $1.76 and a 1-year high of $3.80.
Westell Technologies (NASDAQ:WSTL) last released its quarterly earnings data on Wednesday, November 1st. The communications equipment provider reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.09. The firm had revenue of $17.23 million for the quarter, compared to the consensus estimate of $16.74 million. Westell Technologies had a negative net margin of 3.45% and a positive return on equity of 4.84%. The firm’s revenue was down 3.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.02) earnings per share. analysts predict that Westell Technologies will post 0.23 earnings per share for the current year.
A hedge fund recently raised its stake in Westell Technologies stock. Renaissance Technologies LLC boosted its holdings in shares of Westell Technologies, Inc. (NASDAQ:WSTL) by 2.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,773,429 shares of the communications equipment provider’s stock after acquiring an additional 100,900 shares during the period. Renaissance Technologies LLC owned about 6.13% of Westell Technologies worth $2,641,000 at the end of the most recent reporting period. 27.68% of the stock is currently owned by institutional investors.
About Westell Technologies
Westell Technologies, Inc is a provider of in-building wireless, intelligent site management, cell site optimization and outside plant solutions. The Company’s set of products and solutions are designed to manage network performance for carriers, integrators and other network operators. The Company operates in two segments: In-Building Wireless (IBW) and Communication Solutions Group (CSG).
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