Wall Street Zen Upgrades Vodafone Group (NASDAQ:VOD) to “Buy”

Vodafone Group (NASDAQ:VOD) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Monday, Wall Street Zen reports.

Several other research analysts have also weighed in on VOD. Barclays lowered shares of Vodafone Group from an “overweight” rating to an “equal weight” rating in a report on Thursday, June 11th. Bank of America downgraded shares of Vodafone Group from a “neutral” rating to an “underperform” rating and set a $13.13 price target on the stock. in a research note on Tuesday, May 26th. Zacks Research cut shares of Vodafone Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 28th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Vodafone Group in a report on Tuesday, September 1st. Finally, The Goldman Sachs Group raised Vodafone Group from a “sell” rating to a “buy” rating in a research report on Friday, September 4th. Three analysts have rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, Vodafone Group presently has an average rating of “Hold” and a consensus target price of $10.57.

Vodafone Group Stock Up 0.9%

Vodafone Group stock opened at $17.68 on Monday. Vodafone Group has a 12-month low of $11.12 and a 12-month high of $17.71. The company has a quick ratio of 1.11, a current ratio of 1.14 and a debt-to-equity ratio of 0.84. The firm’s 50-day moving average is $15.95 and its two-hundred day moving average is $15.26.

Institutional Investors Weigh In On Vodafone Group

Hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp boosted its position in Vodafone Group by 9,637.5% in the 4th quarter. Bank of New York Mellon Corp now owns 8,902,486 shares of the cell phone carrier’s stock valued at $117,602,000 after buying an additional 8,811,061 shares during the last quarter. ACR Alpine Capital Research LLC increased its position in shares of Vodafone Group by 3.0% during the first quarter. ACR Alpine Capital Research LLC now owns 26,854,952 shares of the cell phone carrier’s stock worth $403,361,000 after acquiring an additional 784,305 shares during the last quarter. Merit Financial Group LLC lifted its stake in shares of Vodafone Group by 7,003.0% in the second quarter. Merit Financial Group LLC now owns 788,577 shares of the cell phone carrier’s stock worth $10,429,000 after acquiring an additional 777,475 shares in the last quarter. Independent Financial Group LLC purchased a new position in Vodafone Group in the first quarter valued at about $8,406,000. Finally, Amundi acquired a new stake in Vodafone Group during the 1st quarter valued at approximately $8,060,000. 7.84% of the stock is currently owned by hedge funds and other institutional investors.

Vodafone Group Company Profile

Vodafone Group Plc is a British multinational telecommunications company that provides mobile and fixed-line connectivity, broadband, voice, messaging and related digital services. Its offerings serve individual consumers, households, businesses and public-sector organizations, with services delivered through local Vodafone operations and partner networks.

The company also provides enterprise communications and technology solutions, including cloud and hosting services, cybersecurity, the Internet of Things, unified communications and managed connectivity.