Vodafone Group (NASDAQ:VOD) Rating Lowered to Hold at Zacks Research

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

VOD has been the subject of several other reports. UBS Group raised Vodafone Group from a “strong sell” rating to a “hold” rating in a research report on Monday, March 23rd. DZ Bank cut Vodafone Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 13th. Bank of America cut Vodafone Group from a “neutral” rating to an “underperform” rating and set a $13.13 target price for the company. in a research report on Tuesday. Weiss Ratings raised Vodafone Group from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, May 22nd. Finally, Wall Street Zen cut Vodafone Group from a “hold” rating to a “sell” rating in a research report on Saturday, May 23rd. Two analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, Vodafone Group has a consensus rating of “Reduce” and a consensus price target of $52.38.

Vodafone Group Stock Up 0.2%

NASDAQ:VOD opened at $14.96 on Thursday. The stock has a 50-day simple moving average of $15.26 and a 200-day simple moving average of $14.28. Vodafone Group has a 1 year low of $9.80 and a 1 year high of $16.60. The company has a quick ratio of 1.11, a current ratio of 1.14 and a debt-to-equity ratio of 0.84.

Institutional Trading of Vodafone Group

A number of large investors have recently made changes to their positions in the company. Caprock Group LLC acquired a new stake in Vodafone Group during the 3rd quarter worth approximately $1,408,000. Aquatic Capital Management LLC acquired a new stake in Vodafone Group during the 3rd quarter worth approximately $7,492,000. Centiva Capital LP acquired a new stake in Vodafone Group during the 3rd quarter worth approximately $1,232,000. ABC Arbitrage SA lifted its position in Vodafone Group by 22.7% during the 3rd quarter. ABC Arbitrage SA now owns 3,646,412 shares of the cell phone carrier’s stock worth $42,298,000 after acquiring an additional 673,508 shares during the period. Finally, Envestnet Asset Management Inc. lifted its position in Vodafone Group by 1.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 5,518,066 shares of the cell phone carrier’s stock worth $64,010,000 after acquiring an additional 76,534 shares during the period. 7.84% of the stock is owned by institutional investors and hedge funds.

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.