Zacks Investment Research upgraded shares of Communications Systems (NASDAQ:JCS) from a sell rating to a hold rating in a research report report published on Friday morning.
According to Zacks, “Communications Systems manufactures and markets connectors and wiring devices for voice, data and video communications under the Suttle brand name in the United States and internationally. The company also manufactures a line of high performance fiber-optic connectors, interconnect devices and fiber cable assemblies for the telecommunications, computer and electronics markets. The company has several manufacturing plants in the United States and abroad. “
Shares of Communications Systems (NASDAQ:JCS) opened at $3.79 on Friday. Communications Systems has a one year low of $3.18 and a one year high of $4.99. The stock has a market cap of $32.38, a P/E ratio of -2.83 and a beta of 0.89.
Several hedge funds and other institutional investors have recently bought and sold shares of JCS. Ameriprise Financial Inc. lifted its holdings in shares of Communications Systems by 33.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 29,831 shares of the communications equipment provider’s stock worth $129,000 after acquiring an additional 7,514 shares during the last quarter. Macquarie Group Ltd. bought a new stake in shares of Communications Systems during the 3rd quarter worth $119,000. Gould Asset Management LLC CA bought a new stake in shares of Communications Systems during the 3rd quarter worth $124,000. Finally, Renaissance Technologies LLC lifted its holdings in shares of Communications Systems by 10.1% during the 4th quarter. Renaissance Technologies LLC now owns 435,200 shares of the communications equipment provider’s stock worth $1,549,000 after acquiring an additional 40,000 shares during the last quarter. 32.15% of the stock is owned by institutional investors.
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About Communications Systems
Communications Systems, Inc (CSI) operates directly and through its subsidiaries located in the United States, Costa Rica and the United Kingdom. The Company operates through three segments: Suttle, Transition Networks and JDL Technologies (JDL). The Company provides physical connectivity infrastructure products and services for global deployments of broadband networks.
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