Frequency Electronics (NASDAQ:FEIM) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Frequency Electronics (NASDAQ:FEIM) from a sell rating to a hold rating in a research report sent to investors on Saturday.

Other analysts also recently issued reports about the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Frequency Electronics in a research report on Wednesday, October 8th. UBS Group set a $43.00 price target on Frequency Electronics in a research report on Thursday, September 18th. Finally, Craig Hallum initiated coverage on Frequency Electronics in a research report on Thursday, September 18th. They set a “buy” rating and a $43.00 price target for the company. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $43.00.

Frequency Electronics Stock Up 7.9%

Shares of NASDAQ:FEIM opened at $36.72 on Friday. The stock has a market cap of $358.02 million, a price-to-earnings ratio of 16.04 and a beta of 0.51. Frequency Electronics has a 12-month low of $12.17 and a 12-month high of $39.74. The business’s 50 day moving average is $32.35 and its 200 day moving average is $24.64.

Frequency Electronics (NASDAQ:FEIM) last announced its earnings results on Thursday, September 11th. The communications equipment provider reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.29). The company had revenue of $13.81 million for the quarter, compared to analysts’ expectations of $16.53 million. Frequency Electronics had a net margin of 32.10% and a return on equity of 44.02%. During the same period in the previous year, the firm earned $0.25 EPS.

Institutional Investors Weigh In On Frequency Electronics

A number of institutional investors and hedge funds have recently made changes to their positions in FEIM. Farther Finance Advisors LLC purchased a new stake in shares of Frequency Electronics in the second quarter worth $25,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of Frequency Electronics in the second quarter worth $30,000. Bank of America Corp DE raised its position in shares of Frequency Electronics by 3,558.9% in the second quarter. Bank of America Corp DE now owns 2,671 shares of the communications equipment provider’s stock worth $61,000 after buying an additional 2,598 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Frequency Electronics in the second quarter worth $82,000. Finally, Lazard Asset Management LLC raised its position in shares of Frequency Electronics by 10,807.7% in the second quarter. Lazard Asset Management LLC now owns 4,254 shares of the communications equipment provider’s stock worth $96,000 after buying an additional 4,215 shares in the last quarter. Hedge funds and other institutional investors own 58.60% of the company’s stock.

About Frequency Electronics

Frequency Electronics, Inc, together with its subsidiaries, engages in designing, development, and manufacturing of precision time and frequency control products and components for microwave integrated circuit applications. It operates through two segments, FEI-NY and FEI-Zyfer. The FEI-NY segment offers precision time and frequency control products for communication satellites, terrestrial cellular telephone or other ground-based telecommunication stations; and other components and systems for the U.S.