Electronics for Imaging’s (EFII) Buy Rating Reiterated at Needham & Company LLC

Electronics for Imaging, Inc. (NASDAQ:EFII)‘s stock had its “buy” rating reissued by Needham & Company LLC in a research note issued to investors on Sunday. They presently have a $43.00 price target on the technology company’s stock. Needham & Company LLC’s target price would indicate a potential upside of 44.54% from the stock’s current price.

A number of other research firms also recently issued reports on EFII. Loop Capital initiated coverage on shares of Electronics for Imaging in a research report on Monday, July 24th. They issued a “buy” rating and a $58.00 target price for the company. Morgan Stanley downgraded shares of Electronics for Imaging from an “equal weight” rating to an “underweight” rating in a research report on Friday, August 4th. Longbow Research downgraded shares of Electronics for Imaging from a “neutral” rating to an “underperform” rating in a research report on Friday, August 4th. Sidoti downgraded shares of Electronics for Imaging from a “buy” rating to a “neutral” rating in a research report on Friday, August 4th. Finally, BidaskClub downgraded shares of Electronics for Imaging from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $47.00.

Shares of Electronics for Imaging (NASDAQ:EFII) traded down 29.39% on Friday, hitting $29.75. The company had a trading volume of 8,825,745 shares. The stock has a market cap of $1.38 billion, a PE ratio of 30.99 and a beta of 1.30. Electronics for Imaging has a 12 month low of $25.54 and a 12 month high of $51.15. The company has a 50-day moving average of $41.64 and a 200 day moving average of $43.76.

Electronics for Imaging (NASDAQ:EFII) last posted its quarterly earnings data on Thursday, October 26th. The technology company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.10). Electronics for Imaging had a return on equity of 3.68% and a net margin of 3.09%. The firm had revenue of $248.36 million during the quarter, compared to analyst estimates of $258.09 million. During the same period in the prior year, the business posted $0.58 EPS. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. Analysts anticipate that Electronics for Imaging will post $2.44 EPS for the current fiscal year.

Electronics for Imaging declared that its Board of Directors has approved a stock repurchase program on Monday, September 11th that permits the company to repurchase $125.00 million in outstanding shares. This repurchase authorization permits the technology company to buy shares of its stock through open market purchases. Stock repurchase programs are often 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 Electronics for Imaging stock in a transaction on Monday, September 11th. The shares were sold at an average price of $41.02, for a total value of $369,180.00. Following the transaction, the chief executive officer now owns 377,950 shares in the company, valued at approximately $15,503,509. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.88% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of EFII. Falcon Point Capital LLC acquired a new stake in Electronics for Imaging in the 2nd quarter worth $14,015,000. RK Capital Management LLC acquired a new position in shares of Electronics for Imaging in the second quarter valued at approximately $13,271,000. Fred Alger Management Inc. acquired a new position in shares of Electronics for Imaging in the second quarter valued at approximately $10,746,000. Smith Graham & Co. Investment Advisors LP boosted its holdings in shares of Electronics for Imaging by 147.9% in the third quarter. Smith Graham & Co. Investment Advisors LP now owns 338,185 shares of the technology company’s stock valued at $14,434,000 after buying an additional 201,769 shares during the period. Finally, Rice Hall James & Associates LLC boosted its holdings in shares of Electronics for Imaging by 52.7% in the second quarter. Rice Hall James & Associates LLC now owns 569,125 shares of the technology company’s stock valued at $26,965,000 after buying an additional 196,355 shares during the period.

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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