Micro Focus International (NYSE:MFGP) was downgraded by Zacks Investment Research from a "buy" rating to a "hold" rating in a note issued to investors on Saturday, Zacks.com reports.
According to Zacks, "Micro Focus International plc is an infrastructure software company which develops, sells and supports software products and solutions. The Company's products include Access Manager, Access Review, AccuRev, AccuSync, Acu4GL, AcuBench, ACUCOBOL-GT, AcuConnect, AcuServer, AcuSQL, AcuXDBC, Aegis, AppManager, Artix, Atlas, Business Continuity Clustering, Caliber, Client for Windows, Cloud Manager and CloudAccess. It principally serves federal, airlines and healthcare industries. The company operates primarily in the United Kingdom, the United States, Germany, France, Japan and internationally. Micro Focus International plc is headquartered in Newbury, the United Kingdom. "
A number of other analysts have also recently issued reports on the company. JPMorgan Chase & Co. reissued a "neutral" rating on shares of Micro Focus International in a research report on Thursday, July 9th. UBS Group restated a "neutral" rating on shares of Micro Focus International in a report on Monday, July 27th. Jefferies Financial Group cut their target price on Micro Focus International from $6.00 to $5.00 and set a "hold" rating on the stock in a report on Tuesday, July 7th. They noted that the move was a valuation call. Barclays restated an "equal weight" rating on shares of Micro Focus International in a report on Friday, July 10th. Finally, ValuEngine lowered Micro Focus International from a "hold" rating to a "sell" rating in a report on Wednesday, August 12th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of "Hold" and an average price target of $4.38.
MFGP opened at $3.26 on Friday. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of 1.66 and a beta of 2.05. Micro Focus International has a 1 year low of $3.18 and a 1 year high of $16.49. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.97. The stock has a fifty day moving average price of $3.92 and a 200 day moving average price of $4.90.
Several institutional investors have recently bought and sold shares of MFGP. Deutsche Bank AG boosted its position in shares of Micro Focus International by 3.6% during the 1st quarter. Deutsche Bank AG now owns 61,397 shares of the company's stock worth $311,000 after acquiring an additional 2,143 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of Micro Focus International by 2.1% in the first quarter. First Trust Advisors LP now owns 131,337 shares of the company's stock worth $666,000 after buying an additional 2,717 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Micro Focus International by 32.6% in the first quarter. PNC Financial Services Group Inc. now owns 15,561 shares of the company's stock worth $79,000 after buying an additional 3,826 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of Micro Focus International by 22.4% in the second quarter. Bank of America Corp DE now owns 39,008 shares of the company's stock worth $214,000 after buying an additional 7,126 shares during the last quarter. Finally, Saturna Capital CORP boosted its holdings in shares of Micro Focus International by 63.9% in the first quarter. Saturna Capital CORP now owns 30,000 shares of the company's stock worth $143,000 after buying an additional 11,696 shares during the last quarter. Institutional investors and hedge funds own 14.99% of the company's stock.
About Micro Focus International
Micro Focus International plc, an infrastructure software company, develops, sells, and supports software products and solutions to small and medium size enterprises. The company offers infrastructure software products that are managed on an investment portfolio. Its product portfolio includes application modernization and connectivity, application delivery management, and IT operations management, as well as security, information management, and Governance.
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