Zacks Investment Research Upgrades Micro Focus International (NYSE:MFGP) to “Buy”

Zacks Investment Research upgraded shares of Micro Focus International (NYSE:MFGP) from a hold rating to a buy rating in a report issued on Thursday, Zacks.com reports. The brokerage currently has $7.75 price target on the stock.

According to Zacks, “Micro Focus International plc is an infrastructure software company which develops, sells and supports software products and solutions. The Company’s products include Access Manager, Access Review, AccuRev, AccuSync, Acu4GL, AcuBench, ACUCOBOL-GT, AcuConnect, AcuServer, AcuSQL, AcuXDBC, Aegis, AppManager, Artix, Atlas, Business Continuity Clustering, Caliber, Client for Windows, Cloud Manager and CloudAccess. It principally serves federal, airlines and healthcare industries. The company operates primarily in the United Kingdom, the United States, Germany, France, Japan and internationally. Micro Focus International plc is headquartered in Newbury, the United Kingdom. “

Shares of MFGP stock opened at $7.22 on Thursday. The stock has a market capitalization of $2.42 billion, a PE ratio of 4.69 and a beta of 2.52. The business has a fifty day moving average price of $7.07. Micro Focus International has a twelve month low of $2.78 and a twelve month high of $8.19. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.86 and a current ratio of 0.86.

A number of hedge funds have recently modified their holdings of the stock. Optiver Holding B.V. bought a new stake in Micro Focus International in the first quarter worth $4,861,000. Eaton Vance Management bought a new stake in Micro Focus International in the first quarter worth $34,000. Morgan Stanley boosted its holdings in Micro Focus International by 77.4% in the first quarter. Morgan Stanley now owns 52,657 shares of the company’s stock worth $405,000 after acquiring an additional 22,970 shares in the last quarter. Teewinot Capital Advisers L.L.C. boosted its holdings in Micro Focus International by 1,587.3% in the first quarter. Teewinot Capital Advisers L.L.C. now owns 48,628 shares of the company’s stock worth $5,348,000 after acquiring an additional 45,746 shares in the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in Micro Focus International in the first quarter worth $554,000. 14.49% of the stock is currently owned by institutional investors.

About Micro Focus International

Micro Focus International plc engages in the enterprise software business in the United Kingdom, the United States, Germany, Canada, France, Japan, and internationally. The company offers infrastructure software products that are managed on a portfolio. Its product portfolio includes application modernization and connectivity, application delivery management, IT operations management, security and information management, and governance.

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Analyst Recommendations for Micro Focus International (NYSE:MFGP)

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