B. Riley Financial Cuts RF Industries (NASDAQ:RFIL) Price Target to $12.00

RF Industries (NASDAQ:RFIL) had its price target lowered by B. Riley Financial from $15.00 to $12.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the electronics maker’s stock.

A number of other research firms also recently weighed in on RFIL. Lake Street Capital cut their price target on RF Industries from $19.00 to $17.00 and set a “buy” rating for the company in a research note on Tuesday. Zacks Research cut RF Industries from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 20th. Weiss Ratings downgraded RF Industries from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, September 11th. Finally, 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. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, RF Industries has an average rating of “Moderate Buy” and a consensus price target of $14.50.

RF Industries Stock Down 3.3%

Shares of NASDAQ:RFIL opened at $7.93 on Tuesday. The firm has a fifty day moving average of $11.89 and a two-hundred day moving average of $13.98. The firm has a market capitalization of $86.04 million, a P/E ratio of 36.05 and a beta of 1.29. RF Industries has a 12-month low of $5.54 and a 12-month high of $22.30.

RF Industries (NASDAQ:RFIL) last posted its quarterly earnings results on Monday, September 14th. The electronics maker reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). The company had revenue of $23.96 million during the quarter, compared to analyst estimates of $23.28 million. RF Industries had a return on equity of 15.32% and a net margin of 2.83%. Equities research analysts expect that RF Industries will post 0.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On RF Industries

Several large investors have recently made changes to their positions in RFIL. Punch & Associates Investment Management Inc. lifted its holdings in shares of RF Industries by 9.2% during the fourth quarter. Punch & Associates Investment Management Inc. now owns 877,150 shares of the electronics maker’s stock worth $5,070,000 after buying an additional 74,091 shares during the last quarter. Sei Investments Co. grew its stake in shares of RF Industries by 257.2% in the first quarter. Sei Investments Co. now owns 84,030 shares of the electronics maker’s stock worth $866,000 after acquiring an additional 60,503 shares during the last quarter. Walleye Capital LLC acquired a new stake in shares of RF Industries in the first quarter worth $731,000. Engineers Gate Manager LP increased its position in RF Industries by 28.4% during the second quarter. Engineers Gate Manager LP now owns 21,248 shares of the electronics maker’s stock worth $451,000 after acquiring an additional 4,697 shares during the period. Finally, Bank of New York Mellon Corp bought a new position in RF Industries during the second quarter worth $397,000. Institutional investors and hedge funds own 23.49% of the company’s stock.

About RF Industries

RF Industries, Ltd. (NASDAQ: RFIL) designs, manufactures and distributes products used to build and maintain wireless communications and broadband infrastructure. Its offerings support cellular, telecommunications, public safety, data communications and other radio-frequency applications.

The company’s product portfolio includes RF connectors, coaxial cable assemblies, jumper cables, antennas, power-distribution equipment, enclosures and other infrastructure components. RF Industries also provides integrated systems and custom-engineered solutions for communications networks, including products used in wireless base stations, distributed antenna systems and in-building coverage applications.

RF Industries serves telecommunications carriers, wireless infrastructure providers, original equipment manufacturers, value-added distributors, government agencies and other industrial customers.