RF Industries (NASDAQ:RFIL) Upgraded by Zacks Research to Strong-Buy Rating

Key Points

• RF Industries was upgraded from a "hold" rating to a "strong-buy" rating by Zacks Research, indicating increased confidence in the stock's potential.
• The consensus target price for RF Industries is now $9.25, reflecting a significant upward revision from previous estimates and a strong buy consensus.
• Institutional and hedge funds recently acquired positions in RF Industries, collectively holding 23.49% of the company's stock, which may signal growing interest from larger investors.

Zacks Research upgraded shares of RF Industries (NASDAQ:RFIL - Free Report) from a hold rating to a strong-buy rating in a report released on Thursday morning,Zacks.com reports.

Other research analysts have also issued research reports about the stock. Wall Street Zen raised shares of RF Industries to a "strong-buy" rating in a research note on Friday, July 18th. B. Riley boosted their price objective on shares of RF Industries from $6.25 to $9.25 and gave the company a "buy" rating in a research report on Monday, September 15th. One analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. According to MarketBeat.com, RF Industries presently has a consensus rating of "Strong Buy" and a consensus price target of $9.25.

RF Industries Stock Up 11.9%

NASDAQ RFIL traded up $0.92 during trading on Thursday, reaching $8.67. 329,747 shares of the stock traded hands, compared to its average volume of 95,609. The firm has a market cap of $92.51 million, a price-to-earnings ratio of -433.50 and a beta of 0.88. The stock's 50-day moving average price is $7.36 and its 200 day moving average price is $5.55. RF Industries has a fifty-two week low of $3.39 and a fifty-two week high of $9.21.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. bought a new stake in RF Industries in the first quarter valued at approximately $56,000. Heron Bay Capital Management bought a new position in shares of RF Industries in the second quarter valued at about $67,000. Wealthedge Investment Advisors LLC acquired a new stake in shares of RF Industries during the 4th quarter worth about $84,000. Finally, Bailard Inc. bought a new stake in shares of RF Industries during the 1st quarter worth about $126,000. Institutional investors and hedge funds own 23.49% of the company's stock.

RF Industries Company Profile

RF Industries, Ltd., together with its subsidiaries, designs, manufactures, and markets interconnect products and systems in the United States, Canada, Italy, Mexico, and internationally. The company operates through two segments, RF Connector and Cable Assembly, and Custom Cabling Manufacturing and Assembly.