ValuEngine Downgrades Communications Systems (JCS) to Hold

Communications Systems (NASDAQ:JCS) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a report released on Wednesday, ValuEngine reports.

Separately, Northland Securities set a $5.00 price target on shares of Communications Systems and gave the company a “buy” rating in a research note on Tuesday.

Shares of JCS traded down $0.06 during mid-day trading on Wednesday, hitting $2.82. 6,200 shares of the company traded hands, compared to its average volume of 9,909. Communications Systems has a one year low of $2.03 and a one year high of $4.24. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.22 and a quick ratio of 2.64.

Communications Systems (NASDAQ:JCS) last released its quarterly earnings results on Monday, May 6th. The communications equipment provider reported $0.03 EPS for the quarter. Communications Systems had a negative net margin of 7.14% and a negative return on equity of 10.14%. The business had revenue of $16.72 million for the quarter.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC lifted its holdings in Communications Systems by 1.3% in the first quarter. Renaissance Technologies LLC now owns 505,911 shares of the communications equipment provider’s stock valued at $1,341,000 after buying an additional 6,416 shares during the period. Bremer Bank National Association acquired a new position in Communications Systems in the first quarter valued at approximately $46,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new position in Communications Systems in the first quarter valued at approximately $38,000. 26.58% of the stock is currently owned by institutional investors and hedge funds.

About Communications Systems

Communications Systems, Inc, through its subsidiaries, manufactures and sells connectivity infrastructure products for broadband and voice communications in North America, Europe, the Middle East, Africa, and internationally. The company's Transition Networks segment designs, assembles, and markets media converters, NIDs, network interface cards, Ethernet switches, small form factor pluggable modules, and other connectivity products under the Transition Networks brand name.

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