Electronics for Imaging, Inc. (NASDAQ:EFII) had its price objective raised by investment analysts at Morgan Stanley from $28.00 to $29.00 in a research report issued to clients and investors on Friday, September 8th. The firm presently has an “underweight” rating on the technology company’s stock. Morgan Stanley’s target price would suggest a potential downside of 30.27% from the company’s previous close.
A number of other analysts also recently weighed in on EFII. Capital One Financial Corporation assumed coverage on Electronics for Imaging in a research report on Thursday, September 7th. They set an “overweight” rating for the company. William Blair reiterated an “outperform” rating on shares of Electronics for Imaging in a research report on Wednesday, September 6th. Zacks Investment Research downgraded Electronics for Imaging from a “hold” rating to a “sell” rating in a research report on Thursday, September 7th. Citigroup Inc. reiterated a “buy” rating and set a $53.00 target price on shares of Electronics for Imaging in a research report on Thursday, September 7th. Finally, Longbow Research upgraded Electronics for Imaging from an “underperform” rating to a “neutral” rating in a research report on Wednesday, September 6th. Two analysts have rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the stock. Electronics for Imaging presently has a consensus rating of “Buy” and a consensus target price of $50.70.
Electronics for Imaging (NASDAQ:EFII) traded up 2.11% during midday trading on Friday, hitting $41.59. 702,035 shares of the company traded hands. Electronics for Imaging has a 12-month low of $25.54 and a 12-month high of $51.15. The company has a market cap of $1.93 billion, a PE ratio of 43.10 and a beta of 1.27. The stock has a 50 day moving average price of $36.71 and a 200-day moving average price of $44.90.
Electronics for Imaging (NASDAQ:EFII) last released its quarterly earnings results on Monday, September 11th. The technology company reported $0.54 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by ($0.02). The firm had revenue of $247.00 million during the quarter, compared to the consensus estimate of $247.65 million. Electronics for Imaging had a net margin of 4.70% and a return on equity of 5.58%. The business’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.56 earnings per share. Analysts expect that Electronics for Imaging will post $2.44 EPS for the current year.
Electronics for Imaging declared that its Board of Directors has initiated a share repurchase program on Monday, September 11th that permits the company to repurchase $125.00 million in shares. This repurchase authorization permits the technology company to reacquire shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
In other Electronics for Imaging news, CEO Guy Gecht sold 9,000 shares of the company’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $41.02, for a total value of $369,180.00. Following the completion of the transaction, the chief executive officer now owns 377,950 shares of the company’s stock, valued at approximately $15,503,509. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last ninety days, insiders sold 45,458 shares of company stock valued at $2,118,405. Insiders own 1.88% of the company’s stock.
Hedge funds have recently modified their holdings of the company. 1st Global Advisors Inc. boosted its position in shares of Electronics for Imaging by 11.1% during the 2nd quarter. 1st Global Advisors Inc. now owns 7,715 shares of the technology company’s stock valued at $366,000 after purchasing an additional 773 shares in the last quarter. Piedmont Investment Advisors LLC bought a new stake in shares of Electronics for Imaging during the 2nd quarter valued at about $476,000. Westwood Holdings Group Inc. boosted its position in shares of Electronics for Imaging by 7.7% during the 2nd quarter. Westwood Holdings Group Inc. now owns 1,055,845 shares of the technology company’s stock valued at $49,629,000 after purchasing an additional 75,045 shares in the last quarter. Castleark Management LLC bought a new stake in shares of Electronics for Imaging during the 2nd quarter valued at about $8,723,000. Finally, State Street Corp boosted its position in shares of Electronics for Imaging by 3.7% during the 2nd quarter. State Street Corp now owns 1,165,317 shares of the technology company’s stock valued at $55,217,000 after purchasing an additional 41,326 shares in the last quarter.
About Electronics for Imaging
Electronics For Imaging, Inc is engaged in digital printing, focused on the transformation of the printing, packaging, ceramic tile decoration, and textile industries from the use of traditional analog-based printing to digital on-demand printing. It operates through three segments. The Industrial Inkjet segment consists of its VUTEk and Matan super-wide and wide format display graphics, Reggiani textile, Jetrion label and packaging and Cretaprint ceramic tile decoration and construction material industrial digital inkjet printers; ceramic, water-based, and thermoforming ink, and digital inkjet printer parts, and professional services.
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