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Fabrinet (NYSE:FN - Get Rating) was downgraded by StockNews.com from a "buy" rating to a "hold" rating in a note issued to investors on Thursday.
FN has been the topic of several other research reports. Loop Capital started coverage on Fabrinet in a research note on Monday, April 25th. They set a "buy" rating and a $129.00 target price on the stock. B. Riley lowered their target price on Fabrinet from $100.00 to $96.00 in a research note on Tuesday, May 3rd. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $109.43.
Fabrinet stock traded down $0.83 during midday trading on Thursday, hitting $81.10. The company's stock had a trading volume of 184,719 shares, compared to its average volume of 203,470. The company has a quick ratio of 2.02, a current ratio of 2.92 and a debt-to-equity ratio of 0.01. The stock's 50-day moving average price is $86.64 and its 200-day moving average price is $99.73. Fabrinet has a 12 month low of $74.57 and a 12 month high of $126.28. The company has a market capitalization of $2.98 billion, a PE ratio of 16.29 and a beta of 0.93.
Fabrinet (NYSE:FN - Get Rating) last issued its quarterly earnings results on Monday, May 2nd. The technology company reported $1.35 EPS for the quarter, hitting the consensus estimate of $1.35. Fabrinet had a net margin of 8.54% and a return on equity of 16.00%. The firm had revenue of $564.40 million for the quarter, compared to analysts' expectations of $575.72 million. During the same period in the previous year, the business earned $1.03 earnings per share. As a group, equities analysts anticipate that Fabrinet will post 5.29 EPS for the current year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Covestor Ltd bought a new stake in shares of Fabrinet during the fourth quarter valued at approximately $49,000. Archer Investment Corp bought a new stake in shares of Fabrinet during the first quarter valued at approximately $58,000. Van ECK Associates Corp bought a new stake in Fabrinet in the fourth quarter valued at $96,000. FDx Advisors Inc. bought a new stake in Fabrinet in the fourth quarter valued at $221,000. Finally, Schonfeld Strategic Advisors LLC bought a new stake in Fabrinet in the third quarter valued at $206,000. Institutional investors and hedge funds own 95.89% of the company's stock.
Fabrinet Company Profile (Get Rating)
Fabrinet provides optical packaging and precision optical, electro-mechanical, and electronic manufacturing services in North America, the Asia-Pacific, and Europe. The company offers a range of advanced optical and electro-mechanical capabilities in the manufacturing process, including process design and engineering, supply chain management, manufacturing, printed circuit board assembly, advanced packaging, integration, final assembly, and testing.
Further ReadingGet a free copy of the StockNews.com research report on Fabrinet (FN)Acuity Brands, Inc Illuminates An Attractive OpportunityPaychex Continues To Provide Steady And Predictable Results The Value Of High-Yielding Walgreens Boots Alliance DeepensWhy I'm Buying Pfizer And You Should Too3 Reasons Why Snowflake (NYSE: SNOW) Should Be In Your Portfolio
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