Frequency Electronics (NASDAQ:FEIM) Stock Bumped Up to "Buy" by Wall Street Zen

Key Points

• Wall Street Zen upgraded Frequency Electronics to “Buy” from “Hold,” while Weiss Ratings also raised its rating. The stock has a consensus “Buy” rating and an average price target of $59.67.
• Frequency Electronics reported quarterly EPS of $0.41, beating estimates of $0.15, while revenue of $23.45 million exceeded expectations of $17.85 million.
• FEIM opened at $75.09 and has traded between $26.05 and $89.76 over the past year. Institutional investors and hedge funds own approximately 58.6% of the company’s shares.

Frequency Electronics (NASDAQ:FEIM - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Saturday, Wall Street Zen reports.

A number of other analysts also recently weighed in on the company. Weiss Ratings upgraded Frequency Electronics from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday. Freedom Broker downgraded Frequency Electronics from a "buy" rating to a "hold" rating and lifted their target price for the stock from $77.00 to $91.00 in a report on Monday, September 14th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $59.67.

Frequency Electronics Price Performance

FEIM opened at $75.09 on Friday. Frequency Electronics has a fifty-two week low of $26.05 and a fifty-two week high of $89.76. The firm has a market capitalization of $846.26 million, a price-to-earnings ratio of 300.36 and a beta of 0.65. The company's 50 day moving average price is $74.10 and its two-hundred day moving average price is $65.59.

Frequency Electronics (NASDAQ:FEIM - Get Free Report) last announced its quarterly earnings results on Thursday, September 10th. The communications equipment provider reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.26. The firm had revenue of $23.45 million during the quarter, compared to analysts' expectations of $17.85 million. Frequency Electronics had a net margin of 3.68% and a return on equity of 3.63%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of FEIM. Farther Finance Advisors LLC raised its position in shares of Frequency Electronics by 29.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 666 shares of the communications equipment provider's stock worth $56,000 after acquiring an additional 153 shares in the last quarter. First Trust Advisors LP boosted its position in shares of Frequency Electronics by 0.9% during the 1st quarter. First Trust Advisors LP now owns 21,818 shares of the communications equipment provider's stock valued at $966,000 after purchasing an additional 190 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Frequency Electronics by 1.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 57,350 shares of the communications equipment provider's stock worth $2,538,000 after purchasing an additional 541 shares during the period. IFP Advisors Inc grew its stake in Frequency Electronics by 46.0% during the second quarter. IFP Advisors Inc now owns 1,905 shares of the communications equipment provider's stock worth $126,000 after purchasing an additional 600 shares during the period. Finally, XML Financial LLC increased its holdings in Frequency Electronics by 12.6% in the first quarter. XML Financial LLC now owns 6,500 shares of the communications equipment provider's stock worth $288,000 after purchasing an additional 725 shares in the last quarter. Institutional investors and hedge funds own 58.60% of the company's stock.

About Frequency Electronics

Frequency Electronics, Inc NASDAQ: FEIM designs and manufactures precision timing, frequency-control and synchronization products. Its technologies are used to generate, stabilize and distribute highly accurate timing signals for systems that require reliable frequency performance.

The company's products include crystal oscillators, atomic frequency standards, frequency synthesizers, GPS- and GNSS-disciplined timing devices, and time-and-frequency distribution systems. These products support applications in aerospace and defense, satellite communications, telecommunications, and other commercial and industrial markets.

Founded in 1961, Frequency Electronics serves customers in the United States and international markets.

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