Vodafone Group (NASDAQ:VOD) Stock Rating Lowered by Bank of America

Vodafone Group (NASDAQ:VOD) was downgraded by equities research analysts at Bank of America from a “neutral” rating to an “underperform” rating in a report released on Tuesday. They currently have a $13.13 price objective on the cell phone carrier’s stock. Bank of America‘s price target indicates a potential downside of 12.12% from the stock’s current price.

Several other analysts have also recently weighed in on the company. Wall Street Zen cut Vodafone Group from a “hold” rating to a “sell” rating in a report on Saturday. Zacks Research raised Vodafone Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 29th. DZ Bank cut Vodafone Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 13th. UBS Group raised Vodafone Group from a “strong sell” rating to a “hold” rating in a report on Monday, March 23rd. Finally, Weiss Ratings raised Vodafone Group from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $52.38.

Vodafone Group Price Performance

Shares of NASDAQ:VOD opened at $14.94 on Tuesday. Vodafone Group has a 1-year low of $9.80 and a 1-year high of $16.60. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.14 and a quick ratio of 1.11. The business has a 50-day moving average price of $15.23 and a two-hundred day moving average price of $14.20.

Institutional Trading of Vodafone Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Assetmark Inc. increased its stake in shares of Vodafone Group by 156.8% in the 4th quarter. Assetmark Inc. now owns 2,275 shares of the cell phone carrier’s stock valued at $30,000 after acquiring an additional 1,389 shares during the last quarter. Bayban increased its stake in Vodafone Group by 6,696.7% during the 1st 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 increased its stake in Vodafone Group by 40.8% during the 4th 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 bought a new stake in Vodafone Group during the 1st quarter worth approximately $34,000. Finally, Caitong International Asset Management Co. Ltd increased its stake in Vodafone Group by 81.8% during the 4th 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. 7.84% of the stock is owned by institutional investors.

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.