Zacks Investment Research Upgrades Vodafone Group (NASDAQ:VOD) to Hold

Vodafone Group (NASDAQ:VOD) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday, Zacks.com reports.

According to Zacks, “Vodafone AirTouch Plc is the world’s largest international mobile communications firm. Their primary operation is in digital and analog cellular telephone networks of Vodafone. “

Other equities research analysts have also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Vodafone Group in a report on Friday, May 7th. Credit Suisse Group reiterated an “outperform” rating on shares of Vodafone Group in a report on Wednesday, May 19th. Barclays reiterated an “overweight” rating on shares of Vodafone Group in a report on Wednesday, May 19th. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Vodafone Group in a report on Thursday, July 1st. Finally, Morgan Stanley set a $16.67 price objective on Vodafone Group in a research note on Saturday, July 10th. One research analyst has rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $18.34.

VOD stock opened at $16.01 on Wednesday. Vodafone Group has a 52-week low of $13.14 and a 52-week high of $20.36. The business’s fifty day simple moving average is $17.85. The company has a quick ratio of 0.96, a current ratio of 0.98 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $44.78 billion, a PE ratio of 17.03, a price-to-earnings-growth ratio of 4.19 and a beta of 0.98.

A number of institutional investors have recently made changes to their positions in VOD. Bank of New York Mellon Corp increased its holdings in Vodafone Group by 120.3% in the first quarter. Bank of New York Mellon Corp now owns 5,339,240 shares of the cell phone carrier’s stock valued at $98,403,000 after buying an additional 2,916,006 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in Vodafone Group by 940.8% in the first quarter. Russell Investments Group Ltd. now owns 2,955,324 shares of the cell phone carrier’s stock valued at $54,464,000 after buying an additional 2,671,389 shares during the last quarter. Morgan Stanley increased its holdings in Vodafone Group by 23.7% in the first quarter. Morgan Stanley now owns 8,324,013 shares of the cell phone carrier’s stock valued at $153,411,000 after buying an additional 1,596,160 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Vodafone Group in the first quarter valued at about $19,560,000. Finally, ACR Alpine Capital Research LLC increased its holdings in Vodafone Group by 9.3% in the first quarter. ACR Alpine Capital Research LLC now owns 8,340,174 shares of the cell phone carrier’s stock valued at $153,709,000 after buying an additional 712,734 shares during the last quarter. 8.77% of the stock is owned by hedge funds and other institutional investors.

Vodafone Group Company Profile

Vodafone Group Plc engages in telecommunication services in Europe and internationally. The company offers mobile services that enable customers to call, text, and access data; fixed line services, including broadband, television (TV) offerings, and voice; and convergence services under the GigaKombi and Vodafone One names to customers.

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