RF Industries (NASDAQ:RFIL) Upgraded at B. Riley Financial

Key Points

• B. Riley Financial upgraded RF Industries from “neutral” to “buy” and set a $15 price target, implying 33.33% upside from the prior close.
• Analyst sentiment is broadly positive: RF Industries has an average “Buy” rating and a consensus price target of $17, with Lake Street Capital assigning the highest target at $19.
• The company exceeded quarterly expectations, reporting $0.14 in earnings per share versus a $0.09 consensus estimate and revenue of $20.69 million against estimates of $19.67 million.

RF Industries (NASDAQ:RFIL - Get Free Report) was upgraded by equities research analysts at B. Riley Financial from a "neutral" rating to a "buy" rating in a note issued to investors on Friday, Marketbeat reports. The brokerage presently has a $15.00 price target on the electronics maker's stock. B. Riley Financial's target price suggests a potential upside of 33.33% from the stock's previous close.

RFIL has been the subject of several other research reports. Zacks Research raised RF Industries from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 22nd. Weiss Ratings downgraded shares of RF Industries from a "hold (c)" rating to a "hold (c-)" rating in a report on Tuesday, August 11th. Wall Street Zen lowered shares of RF Industries from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 25th. Finally, Lake Street Capital started coverage on shares of RF Industries in a research report on Thursday, August 13th. They issued a "buy" rating and a $19.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, RF Industries presently has an average rating of "Buy" and an average price target of $17.00.

RF Industries Stock Performance

Shares of NASDAQ:RFIL opened at $11.25 on Friday. RF Industries has a 52-week low of $5.54 and a 52-week high of $22.30. The company has a market capitalization of $122.06 million, a P/E ratio of 80.36 and a beta of 1.29. The company has a 50-day simple moving average of $15.41 and a 200 day simple moving average of $14.07.

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. State Street Corp lifted its position in shares of RF Industries by 6.4% during the 4th quarter. State Street Corp now owns 38,484 shares of the electronics maker's stock valued at $222,000 after acquiring an additional 2,300 shares during the period. Geode Capital Management LLC grew its holdings in shares of RF Industries by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 103,152 shares of the electronics maker's stock worth $596,000 after purchasing an additional 2,718 shares in the last quarter. XTX Topco Ltd increased its position in shares of RF Industries by 26.9% in the fourth quarter. XTX Topco Ltd now owns 25,227 shares of the electronics maker's stock worth $146,000 after purchasing an additional 5,350 shares during the period. Goldman Sachs Group Inc. acquired a new position in RF Industries in the first quarter valued at about $56,000. Finally, OMERS ADMINISTRATION Corp acquired a new position in RF Industries in the first quarter valued at about $131,000. 23.49% of the stock is owned by institutional investors.

About RF Industries

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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