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 research report issued on Tuesday.
According to Zacks, “Digi International Inc. is a leading global provider of business and mission-critical Internet of Things (IoT) products and services. They help their customers create next-generation connected products and deploy and manage critical communications infrastructures in demanding environments with high levels of security, relentless reliability and bulletproof performance. Digi International, Inc. (Digi) was formed in 1985-long before anyone coined the term the Internet of Things. They always focused on connecting things, starting with intelligent multiport serial boards for PCs. As wireless data technologies evolved, they invented right along with it, expanding their product lines with RF modules, gateways, and cellular routers to build critical communications infrastructures, plus embedded wireless system on module (SoM) and single-board computer (SBC) offerings for makers of next generation connected products. “
Several other brokerages also recently weighed in on DGII. Sidoti downgraded shares of Digi International from a “buy” rating to a “neutral” rating and set a $12.00 target price on the stock. in a report on Monday, October 16th. TheStreet raised shares of Digi International from a “c+” rating to a “b” rating in a report on Friday, October 27th. Canaccord Genuity reaffirmed a “buy” rating on shares of Digi International in a report on Friday, October 27th. Finally, BidaskClub cut shares of Digi International from a “sell” rating to a “strong sell” rating in a research note on Monday, July 31st. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $14.00.
Shares of Digi International (NASDAQ DGII) traded down $0.25 during trading on Tuesday, reaching $9.75. 75,400 shares of the company’s stock traded hands, compared to its average volume of 85,640. Digi International has a 52 week low of $8.50 and a 52 week high of $14.15. The stock has a market cap of $265.40, a P/E ratio of 27.03 and a beta of 1.45.
Digi International (NASDAQ:DGII) last issued its quarterly earnings data on Thursday, October 26th. The technology company reported $0.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.08. The company had revenue of $45.10 million for the quarter, compared to the consensus estimate of $45.66 million. Digi International had a net margin of 5.16% and a return on equity of 3.24%. Digi International’s revenue for the quarter was down 10.7% on a year-over-year basis. During the same period last year, the firm posted $0.14 EPS. analysts expect that Digi International will post 0.25 EPS for the current year.
A number of institutional investors and hedge funds have recently made changes to their positions in DGII. SG Americas Securities LLC acquired a new position in Digi International during the first quarter worth about $106,000. OppenheimerFunds Inc. acquired a new position in Digi International during the first quarter worth about $148,000. Thrivent Financial For Lutherans raised its position in Digi International by 6.3% during the first quarter. Thrivent Financial For Lutherans now owns 14,920 shares of the technology company’s stock worth $178,000 after acquiring an additional 880 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Digi International by 2.9% in the first quarter. Geode Capital Management LLC now owns 212,705 shares of the technology company’s stock valued at $2,531,000 after buying an additional 6,068 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its position in shares of Digi International by 0.9% in the second quarter. Russell Investments Group Ltd. now owns 82,377 shares of the technology company’s stock valued at $835,000 after buying an additional 700 shares during the last quarter. Institutional investors own 77.64% of the company’s stock.
About Digi International
Digi International Inc is a provider of mission and business-critical machine-to-machine (M2M) and Internet-of-Things (IoT) connectivity products and services. The Company creates connected products and deploys and manages critical communications infrastructures in a range of environments. It offers four categories of hardware products: cellular routers and gateways, radio frequency (RF), embedded and network products.
Receive News & Stock Ratings for Digi International Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Digi International Inc. and related stocks with our FREE daily email newsletter.