Comtech Telecomm. (CMTL) Downgraded by BidaskClub

Comtech Telecomm. (NASDAQ:CMTL) was downgraded by BidaskClub from a “sell” rating to a “strong sell” rating in a note issued to investors on Friday.

Several other research analysts also recently commented on the company. Zacks Investment Research raised Comtech Telecomm. from a “hold” rating to a “strong-buy” rating and set a $42.00 target price on the stock in a report on Monday, October 1st. BMO Capital Markets lifted their target price on Comtech Telecomm. from $37.00 to $40.00 and gave the stock an “outperform” rating in a report on Friday, September 28th. Finally, ValuEngine downgraded Comtech Telecomm. from a “strong-buy” rating to a “buy” rating in a report on Tuesday, September 4th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Comtech Telecomm. currently has a consensus rating of “Buy” and a consensus price target of $35.17.

CMTL traded up $0.47 during midday trading on Friday, hitting $28.29. 186,798 shares of the company were exchanged, compared to its average volume of 157,296. The company has a market capitalization of $674.83 million, a PE ratio of 38.23, a PEG ratio of 5.87 and a beta of 1.58. Comtech Telecomm. has a 1-year low of $19.30 and a 1-year high of $36.94. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.29.

Comtech Telecomm. (NASDAQ:CMTL) last announced its earnings results on Wednesday, September 26th. The communications equipment provider reported $0.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.05. The firm had revenue of $167.40 million for the quarter, compared to the consensus estimate of $174.72 million. Comtech Telecomm. had a return on equity of 3.67% and a net margin of 5.22%. The business’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.31 EPS. Equities research analysts predict that Comtech Telecomm. will post 0.96 EPS for the current fiscal year.

In other news, insider John Branscum sold 1,510 shares of the business’s stock in a transaction dated Monday, October 15th. The stock was sold at an average price of $31.94, for a total value of $48,229.40. Following the transaction, the insider now directly owns 45,323 shares of the company’s stock, valued at approximately $1,447,616.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Edwin Kantor sold 1,000 shares of the business’s stock in a transaction dated Thursday, October 4th. The shares were sold at an average price of $34.55, for a total value of $34,550.00. Following the completion of the transaction, the director now directly owns 1,500 shares in the company, valued at $51,825. The disclosure for this sale can be found here. Insiders sold a total of 4,010 shares of company stock worth $133,779 over the last three months. 7.00% of the stock is owned by company insiders.

Several large investors have recently made changes to their positions in CMTL. Piedmont Investment Advisors LLC acquired a new position in shares of Comtech Telecomm. in the 2nd quarter valued at about $175,000. Campbell & CO Investment Adviser LLC acquired a new position in shares of Comtech Telecomm. in the 2nd quarter valued at about $215,000. USA Financial Portformulas Corp bought a new stake in Comtech Telecomm. in the 3rd quarter valued at about $245,000. Metropolitan Life Insurance Co. NY increased its position in Comtech Telecomm. by 29.9% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 7,991 shares of the communications equipment provider’s stock valued at $255,000 after buying an additional 1,838 shares in the last quarter. Finally, Meeder Asset Management Inc. increased its position in Comtech Telecomm. by 176.3% in the 2nd quarter. Meeder Asset Management Inc. now owns 8,240 shares of the communications equipment provider’s stock valued at $263,000 after buying an additional 5,258 shares in the last quarter. 85.68% of the stock is currently owned by institutional investors.

About Comtech Telecomm.

Comtech Telecommunications Corp. designs, develops, produces, and markets products, systems, and services for communications solutions. The company's Commercial Solutions segment offers ground-based equipment, including single channel per carrier modems and solid-state amplifiers that facilitate the transmission of voice, video, and data over satellite links; and traveling wave tube amplifiers, such as high power narrow-band amplifiers used to amplify signals from satellite earth stations, as well as safety and security technologies.

See Also: Why do corrections happen?

Analyst Recommendations for Comtech Telecomm. (NASDAQ:CMTL)

Receive News & Ratings for Comtech Telecomm. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Comtech Telecomm. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply