Vodafone Group (NASDAQ:VOD) Stock Rating Lowered by Zacks Research

Vodafone Group (NASDAQ:VOD) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Thursday,Zacks.com reports.

Other research analysts have also recently issued research reports about the stock. DZ Bank cut shares of Vodafone Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 13th. Bank of America cut shares of Vodafone Group from a “neutral” rating to an “underperform” rating and set a $13.13 price target for the company. in a report on Tuesday. Weiss Ratings upgraded shares of Vodafone Group from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, May 22nd. Wall Street Zen cut shares of Vodafone Group from a “hold” rating to a “sell” rating in a report on Saturday, May 23rd. Finally, UBS Group upgraded shares of Vodafone Group from a “strong sell” rating to a “hold” rating in a report on Monday, March 23rd. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $52.38.

Vodafone Group Stock Performance

Shares of NASDAQ VOD opened at $14.96 on Thursday. The firm has a 50 day moving average price of $15.26 and a 200 day moving average price of $14.28. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.11 and a current ratio of 1.14. Vodafone Group has a 52-week low of $9.80 and a 52-week high of $16.60.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Assetmark Inc. raised its position in Vodafone Group by 156.8% in the fourth quarter. Assetmark Inc. now owns 2,275 shares of the cell phone carrier’s stock worth $30,000 after purchasing an additional 1,389 shares in the last quarter. Bayban raised its position in Vodafone Group by 6,696.7% in the first quarter. Bayban now owns 2,039 shares of the cell phone carrier’s stock worth $31,000 after purchasing an additional 2,009 shares in the last quarter. American Capital Advisory LLC raised its position in Vodafone Group by 40.8% in the fourth quarter. American Capital Advisory LLC now owns 2,400 shares of the cell phone carrier’s stock worth $32,000 after purchasing an additional 696 shares in the last quarter. Western Wealth Management LLC acquired a new position in Vodafone Group in the first quarter worth about $34,000. Finally, Caitong International Asset Management Co. Ltd raised its position in Vodafone Group by 81.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,651 shares of the cell phone carrier’s stock worth $35,000 after purchasing an additional 1,193 shares in the last quarter. Institutional investors and hedge funds own 7.84% of the company’s stock.

About Vodafone Group

Vodafone Group plc is a British multinational telecommunications company headquartered in London. It provides a wide range of communications services to consumer and enterprise customers, including mobile voice and data, fixed-line broadband, cable and pay-TV, and wholesale network services. The company also offers business-oriented solutions such as cloud and hosting, managed networks, unified communications, and Internet of Things (IoT) connectivity and platform services.

Vodafone operates through a combination of wholly owned subsidiaries, joint ventures and partner arrangements across multiple countries, with a particularly large presence in Europe and in several African markets.