Lake Street Capital Begins Coverage on RF Industries (NASDAQ:RFIL)

Key Points

• Lake Street Capital initiated coverage of RF Industries with a “buy” rating and a $19 price target, implying 44.49% upside from the prior close.
• Analyst sentiment is generally positive, with RF Industries holding a consensus “Moderate Buy” rating and an average price target of $18.50.
• RF Industries exceeded quarterly expectations, reporting $0.14 in EPS versus the $0.09 consensus estimate and revenue of $20.69 million versus $19.67 million expected.

Stock analysts at Lake Street Capital started coverage on shares of RF Industries (NASDAQ:RFIL - Get Free Report) in a report issued on Thursday. The brokerage set a "buy" rating and a $19.00 price target on the electronics maker's stock. Lake Street Capital's price target suggests a potential upside of 44.49% from the company's previous close.

Other analysts also recently issued research reports about the stock. Wall Street Zen downgraded shares of RF Industries from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 25th. Zacks Research raised shares of RF Industries from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 22nd. B. Riley Financial raised their price target on shares of RF Industries from $11.25 to $18.00 and gave the stock a "neutral" rating in a report on Tuesday, June 16th. Finally, Weiss Ratings downgraded shares of RF Industries from a "hold (c)" rating to a "hold (c-)" rating in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $18.50.

RF Industries Stock Performance

NASDAQ:RFIL opened at $13.15 on Thursday. RF Industries has a 52 week low of $5.54 and a 52 week high of $22.30. The firm's fifty day moving average is $15.94 and its 200-day moving average is $13.98. The firm has a market cap of $142.65 million, a P/E ratio of 93.94 and a beta of 1.29.

RF Industries (NASDAQ:RFIL - Get Free Report) last released its earnings results on Monday, June 15th. The electronics maker reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.05. RF Industries had a net margin of 1.70% and a return on equity of 12.79%. The business had revenue of $20.69 million for the quarter, compared to analyst estimates of $19.67 million. As a group, sell-side analysts anticipate that RF Industries will post 0.59 earnings per share for the current year.

Institutional Investors Weigh In On RF Industries

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp purchased a new stake in shares of RF Industries in the second quarter worth approximately $397,000. Bank of America Corp DE lifted its holdings in RF Industries by 519.3% during the first quarter. Bank of America Corp DE now owns 20,634 shares of the electronics maker's stock worth $213,000 after acquiring an additional 17,302 shares during the period. OMERS ADMINISTRATION Corp bought a new position in RF Industries in the 1st quarter valued at $131,000. Sei Investments Co. raised its stake in shares of RF Industries by 257.2% during the 1st quarter. Sei Investments Co. now owns 84,030 shares of the electronics maker's stock worth $866,000 after purchasing an additional 60,503 shares during the period. Finally, Walleye Capital LLC purchased a new stake in RF Industries during the first quarter worth about $731,000. Institutional investors and hedge funds own 23.49% of the company's stock.

RF Industries Company Profile

RF Industries, Inc NASDAQ: RFIL is a manufacturer and supplier of connectivity products and solutions for the wireless, broadcast, cable television, data networking, defense and aerospace markets. The company specializes in both standard and custom coaxial and fiber-optic cable assemblies, connectors, adapters and test accessories designed to withstand demanding environmental conditions. Through its product portfolio, RF Industries supports applications ranging from RF signal transmission and satellite communications to industrial automation and instrumentation.

The company's offerings include premade and build-to-print coaxial cables and assemblies, field-installable connectors, power distribution components and calibration-grade test equipment.

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