Electronics for Imaging, Inc. (NASDAQ:EFII) had its target price decreased by equities research analysts at Barclays PLC from $46.00 to $42.00 in a research note issued to investors on Friday, October 27th, MarketBeat Ratings reports. The firm currently has an “overweight” rating on the technology company’s stock. Barclays PLC’s price target suggests a potential upside of 43.59% from the company’s previous close.
A number of other equities analysts also recently commented on the company. Loop Capital initiated coverage on Electronics for Imaging in a report on Monday, July 24th. They set a “buy” rating and a $58.00 target price for the company. Morgan Stanley downgraded Electronics for Imaging from an “equal weight” rating to an “underweight” rating in a report on Friday, August 4th. Longbow Research downgraded Electronics for Imaging from a “neutral” rating to an “underperform” rating in a report on Friday, August 4th. Sidoti downgraded Electronics for Imaging from a “buy” rating to a “neutral” rating in a report on Friday, August 4th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $48.00 price objective on shares of Electronics for Imaging in a report on Friday, October 13th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $45.75.
Shares of Electronics for Imaging (EFII) traded down $1.38 during mid-day trading on Friday, reaching $29.25. The company’s stock had a trading volume of 565,300 shares, compared to its average volume of 665,207. The company has a quick ratio of 2.20, a current ratio of 2.62 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $1,290.00, a P/E ratio of 47.12 and a beta of 1.26. Electronics for Imaging has a 12-month low of $25.54 and a 12-month high of $51.15.
Electronics for Imaging (NASDAQ:EFII) last announced its earnings results on Thursday, October 26th. The technology company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.10). The business had revenue of $248.36 million for the quarter, compared to the consensus estimate of $258.09 million. Electronics for Imaging had a net margin of 3.09% and a return on equity of 3.67%. Electronics for Imaging’s revenue was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.58 EPS. equities analysts forecast that Electronics for Imaging will post 0.34 EPS for the current year.
Electronics for Imaging announced that its board has approved a stock repurchase plan on Monday, September 11th that allows the company to buyback $125.00 million in outstanding shares. This buyback authorization allows the technology company to purchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its stock is undervalued.
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In related news, CEO Guy Gecht sold 9,000 shares of the stock in a transaction on Wednesday, September 27th. The stock was sold at an average price of $42.76, for a total transaction of $384,840.00. Following the sale, the chief executive officer now directly owns 364,885 shares of the company’s stock, valued at $15,602,482.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Dan Maydan sold 6,500 shares of the stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $30.87, for a total value of $200,655.00. Following the sale, the director now directly owns 33,310 shares in the company, valued at $1,028,279.70. The disclosure for this sale can be found here. Insiders have sold 33,500 shares of company stock worth $1,220,175 over the last ninety days. 1.88% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Electronics for Imaging by 0.8% in the second quarter. Vanguard Group Inc. now owns 4,202,705 shares of the technology company’s stock worth $199,125,000 after purchasing an additional 34,640 shares during the last quarter. Victory Capital Management Inc. boosted its position in Electronics for Imaging by 2.4% in the third quarter. Victory Capital Management Inc. now owns 1,403,769 shares of the technology company’s stock worth $59,913,000 after purchasing an additional 32,600 shares during the last quarter. Macquarie Group Ltd. boosted its position in Electronics for Imaging by 3.1% in the second quarter. Macquarie Group Ltd. now owns 1,321,566 shares of the technology company’s stock worth $62,616,000 after purchasing an additional 39,357 shares during the last quarter. Voya Investment Management LLC boosted its position in Electronics for Imaging by 14.9% in the second quarter. Voya Investment Management LLC now owns 1,179,368 shares of the technology company’s stock worth $55,879,000 after purchasing an additional 153,119 shares during the last quarter. Finally, State Street Corp boosted its position in Electronics for Imaging by 3.7% in the second quarter. State Street Corp now owns 1,165,317 shares of the technology company’s stock worth $55,217,000 after purchasing an additional 41,326 shares during 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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