Electronics for Imaging, Inc. (NASDAQ:EFII) had its price target reduced by Citigroup Inc. from $53.00 to $43.00 in a report issued on Monday morning. Citigroup Inc. currently has a buy rating on the technology company’s stock.
A number of other analysts have also weighed in on the stock. Loop Capital initiated coverage on shares of Electronics for Imaging in a research note on Monday, July 24th. They issued a buy rating and a $58.00 price target for the company. Morgan Stanley lowered shares of Electronics for Imaging from an equal weight rating to an underweight rating in a research note on Friday, August 4th. Longbow Research lowered shares of Electronics for Imaging from a neutral rating to an underperform rating in a research note on Friday, August 4th. Sidoti lowered shares of Electronics for Imaging from a buy rating to a neutral rating in a research note on Friday, August 4th. Finally, BidaskClub lowered shares of Electronics for Imaging from a buy rating to a hold rating in a research note on Wednesday, July 19th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $45.75.
Electronics for Imaging (NASDAQ:EFII) last issued its quarterly earnings results on Thursday, October 26th. The technology company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.10). The company had revenue of $248.36 million during the quarter, compared to analyst estimates of $258.09 million. Electronics for Imaging had a return on equity of 3.67% and a net margin of 3.09%. The company’s revenue was up 1.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.58 earnings per share.
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 shares. This buyback authorization allows the technology company to purchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.
In related news, CEO Guy Gecht sold 9,000 shares of the stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $29.50, for a total transaction of $265,500.00. Following the completion of the sale, the chief executive officer now directly owns 354,141 shares of the company’s stock, valued at $10,447,159.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last three months, insiders have sold 27,000 shares of company stock valued at $1,019,520. Company insiders own 1.88% of the company’s stock.
Large investors have recently modified their holdings of the stock. SG Americas Securities LLC purchased a new stake in shares of Electronics for Imaging in the 2nd quarter valued at approximately $108,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Electronics for Imaging by 9.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,504 shares of the technology company’s stock valued at $119,000 after acquiring an additional 217 shares in the last quarter. TrimTabs Asset Management LLC purchased a new stake in shares of Electronics for Imaging in the 2nd quarter valued at approximately $216,000. Shelton Capital Management purchased a new stake in shares of Electronics for Imaging in the 2nd quarter valued at approximately $219,000. Finally, Riverhead Capital Management LLC lifted its position in shares of Electronics for Imaging by 75.2% in the 2nd quarter. Riverhead Capital Management LLC now owns 4,730 shares of the technology company’s stock valued at $224,000 after acquiring an additional 2,030 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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