Digi International Inc. (DGII) Receives $15.33 Average Price Target from Analysts

Digi International Inc. (NASDAQ:DGII) has earned a consensus rating of “Buy” from the seven ratings firms that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $15.33.

Several research firms recently issued reports on DGII. Zacks Investment Research lowered shares of Digi International from a “buy” rating to a “hold” rating in a report on Wednesday, September 27th. BidaskClub lowered shares of Digi International from a “sell” rating to a “strong sell” rating in a report on Monday, July 31st. Finally, Canaccord Genuity restated a “buy” rating and issued a $15.00 target price on shares of Digi International in a report on Friday, July 28th.

Digi International (NASDAQ:DGII) traded up 0.90% during mid-day trading on Friday, hitting $11.20. 83,405 shares of the company were exchanged. The company has a market capitalization of $297.24 million, a P/E ratio of 34.04 and a beta of 1.49. The company’s 50-day moving average is $9.74 and its 200 day moving average is $10.23. Digi International has a 12-month low of $8.50 and a 12-month high of $14.15.

Digi International (NASDAQ:DGII) last released its earnings results on Thursday, July 27th. The technology company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.03. The business had revenue of $45.70 million for the quarter, compared to analyst estimates of $45.67 million. Digi International had a net margin of 4.74% and a return on equity of 3.17%. Digi International’s revenue for the quarter was down 12.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.16 earnings per share. Analysts expect that Digi International will post $0.27 EPS for the current year.

A number of hedge funds have recently added to or reduced their stakes in the stock. State Street Corp lifted its holdings in Digi International by 5.1% in the second quarter. State Street Corp now owns 729,474 shares of the technology company’s stock valued at $7,399,000 after buying an additional 35,133 shares during the period. Thrivent Financial For Lutherans lifted its holdings in Digi International by 6.1% in the second quarter. Thrivent Financial For Lutherans now owns 15,830 shares of the technology company’s stock valued at $161,000 after buying an additional 910 shares during the period. Ameriprise Financial Inc. increased its stake in Digi International by 12.2% in the second quarter. Ameriprise Financial Inc. now owns 599,573 shares of the technology company’s stock valued at $6,086,000 after purchasing an additional 65,430 shares in the last quarter. TIAA CREF Investment Management LLC increased its stake in Digi International by 6.7% in the second quarter. TIAA CREF Investment Management LLC now owns 128,218 shares of the technology company’s stock valued at $1,301,000 after purchasing an additional 8,056 shares in the last quarter. Finally, Teachers Advisors LLC increased its stake in Digi International by 3.5% in the second quarter. Teachers Advisors LLC now owns 42,937 shares of the technology company’s stock valued at $436,000 after purchasing an additional 1,464 shares in the last quarter. Institutional investors and hedge funds own 78.27% of the company’s stock.

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About Digi International

Digi International Inc is a provider of mission and business-critical machine-to-machine (M2M) and Internet-of-Things (IoT) connectivity products and services. The Company creates connected products and deploys and manages critical communications infrastructures in a range of environments. It offers four categories of hardware products: cellular routers and gateways, radio frequency (RF), embedded and network products.

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