RF Industries (NASDAQ:RFIL) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded RF Industries from “buy” to “strong-buy,” while other analysts remain mixed; the stock has an overall “Moderate Buy” rating and an average price target of $14.50.
• RF Industries shares opened at $8.31, well below their 52-week high of $22.30, with a market capitalization of approximately $90.2 million.
• The company slightly missed quarterly earnings expectations, reporting $0.19 in EPS versus a $0.20 consensus estimate, although revenue of $23.96 million exceeded forecasts.

RF Industries (NASDAQ:RFIL - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research report issued on Saturday, Wall Street Zen reports.

Several other equities research analysts also recently commented on the company. Zacks Research downgraded RF Industries from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 20th. Lake Street Capital reduced their price target on RF Industries from $19.00 to $17.00 and set a "buy" rating for the company in a report on Tuesday, September 15th. Weiss Ratings raised RF Industries from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, September 25th. Finally, B. Riley Financial lowered their price target on RF Industries from $15.00 to $12.00 and set a "buy" rating for the company in a research report on Tuesday, September 15th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $14.50.

RF Industries Stock Performance

Shares of NASDAQ RFIL opened at $8.31 on Friday. RF Industries has a fifty-two week low of $5.54 and a fifty-two week high of $22.30. The company has a 50 day simple moving average of $10.26 and a two-hundred day simple moving average of $13.61. The company has a market capitalization of $90.16 million, a price-to-earnings ratio of 37.77 and a beta of 1.34.

RF Industries (NASDAQ:RFIL - Get Free Report) last issued its quarterly earnings results on Monday, September 14th. The electronics maker reported $0.19 EPS for the quarter, missing analysts' consensus estimates of $0.20 by ($0.01). The company had revenue of $23.96 million during the quarter, compared to the consensus estimate of $23.28 million. RF Industries had a return on equity of 15.32% and a net margin of 2.83%. On average, analysts forecast that RF Industries will post 0.50 earnings per share for the current fiscal year.

Hedge Funds Weigh In On RF Industries

A number of hedge funds have recently added to or reduced their stakes in the company. OMERS ADMINISTRATION Corp bought a new position in RF Industries in the 1st quarter valued at approximately $131,000. Bank of America Corp DE increased its holdings in shares of RF Industries by 519.3% in the 1st quarter. Bank of America Corp DE now owns 20,634 shares of the electronics maker's stock worth $213,000 after purchasing an additional 17,302 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in shares of RF Industries in the second quarter worth $397,000. Engineers Gate Manager LP raised its stake in shares of RF Industries by 28.4% in the second quarter. Engineers Gate Manager LP now owns 21,248 shares of the electronics maker's stock worth $451,000 after purchasing an additional 4,697 shares during the last quarter. Finally, Walleye Capital LLC bought a new position in shares of RF Industries during the first quarter valued at $731,000. 23.49% of the stock is currently owned by hedge funds and other institutional investors.

About RF Industries

RF Industries Ltd. NASDAQ: RFIL designs, manufactures and distributes products used to build and maintain wireless communications and other electronic infrastructure. The company serves wireless carriers, original equipment manufacturers, system integrators, distributors and government customers, with applications spanning cellular communications, public safety, data communications and private wireless networks.

Its product portfolio includes radio-frequency connectors, coaxial cable assemblies, antennas, combiners, filters, power distribution equipment and other passive RF components.

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