Wall Street Zen Downgrades RF Industries (NASDAQ:RFIL) to Buy

Key Points

• Wall Street Zen downgraded RF Industries from “strong-buy” to “buy”, while other firms have been mixed on the stock, including a Zacks upgrade and a B. Riley target price increase to $18.00.
• RF Industries recently reported better-than-expected quarterly results, with EPS of $0.14 versus estimates of $0.09 and revenue of $20.69 million versus expectations of $19.67 million.
• The stock opened at $12.46 and has ranged from $5.54 to $22.30 over the past year; analysts currently expect full-year EPS of 0.59.

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

Several other research firms have also commented on RFIL. Weiss Ratings upgraded shares of RF Industries from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, June 23rd. Zacks Research upgraded shares of RF Industries from a "hold" rating to a "strong-buy" rating in a report on Wednesday. Finally, B. Riley Financial upped their target price on shares of RF Industries from $11.25 to $18.00 and gave the company a "neutral" rating in a research report on Tuesday, June 16th. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, RF Industries presently has an average rating of "Moderate Buy" and an average target price of $18.00.

RF Industries Price Performance

NASDAQ RFIL opened at $12.46 on Friday. RF Industries has a 1-year low of $5.54 and a 1-year high of $22.30. The business has a 50 day simple moving average of $17.40 and a two-hundred day simple moving average of $13.53. The stock has a market capitalization of $135.19 million, a PE ratio of 89.01 and a beta of 1.27.

RF Industries (NASDAQ:RFIL - Get Free Report) last issued its quarterly earnings data on Monday, June 15th. The electronics maker reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.05. RF Industries had a return on equity of 12.79% and a net margin of 1.70%.The business had revenue of $20.69 million for the quarter, compared to analysts' expectations of $19.67 million. On average, analysts anticipate that RF Industries will post 0.59 EPS for the current fiscal year.

Institutional Trading of RF Industries

Hedge funds and other institutional investors have recently bought and sold shares of the business. Ritholtz Wealth Management lifted its position in shares of RF Industries by 68.0% during the fourth quarter. Ritholtz Wealth Management now owns 153,888 shares of the electronics maker's stock worth $889,000 after purchasing an additional 62,279 shares during the last quarter. Punch & Associates Investment Management Inc. grew its holdings in shares of RF Industries by 9.2% in the fourth quarter. Punch & Associates Investment Management Inc. now owns 877,150 shares of the electronics maker's stock worth $5,070,000 after purchasing an additional 74,091 shares during the last quarter. Bailard Inc. increased its stake in RF Industries by 133.0% in the 4th quarter. Bailard Inc. now owns 36,625 shares of the electronics maker's stock worth $212,000 after buying an additional 20,908 shares during the period. PFG Investments LLC purchased a new position in RF Industries in the 4th quarter worth about $64,000. Finally, Vanguard Group Inc. lifted its holdings in RF Industries by 5.5% during the 3rd quarter. Vanguard Group Inc. now owns 391,659 shares of the electronics maker's stock valued at $3,223,000 after buying an additional 20,536 shares in the last quarter. Hedge funds and other institutional investors own 23.49% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.