Wall Street Zen Downgrades Vodafone Group (NASDAQ:VOD) to Hold

Vodafone Group (NASDAQ:VOD) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, Wall Street Zen reports.

Other equities research analysts have also recently issued reports about the company. Weiss Ratings reiterated a “sell (d+)” rating on shares of Vodafone Group in a report on Tuesday, September 1st. New Street Research upgraded Vodafone Group from a “neutral” rating to a “buy” rating in a research report on Friday, July 10th. Bank of America lowered 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 lowered Vodafone Group from a “hold” rating to a “strong sell” rating in a report on Thursday, September 17th. Finally, Barclays cut shares of Vodafone Group from an “overweight” rating to an “equal weight” rating in a research report on Thursday, June 11th. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $10.57.

Vodafone Group Stock Down 1.6%

NASDAQ:VOD opened at $16.35 on Tuesday. The company has a fifty day moving average of $16.25 and a two-hundred day moving average of $15.34. Vodafone Group has a fifty-two week low of $11.12 and a fifty-two week high of $17.71. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.11 and a current ratio of 1.14.

Institutional Investors Weigh In On Vodafone Group

Several institutional investors and hedge funds have recently modified their holdings of the company. QRG Capital Management Inc. lifted its holdings in Vodafone Group by 14.1% during the 2nd quarter. QRG Capital Management Inc. now owns 295,539 shares of the cell phone carrier’s stock worth $3,909,000 after buying an additional 36,529 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its position in shares of Vodafone Group by 5.9% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 11,671 shares of the cell phone carrier’s stock worth $154,000 after acquiring an additional 653 shares during the period. Sequoia Financial Advisors LLC raised its stake in shares of Vodafone Group by 12.9% in the second quarter. Sequoia Financial Advisors LLC now owns 81,223 shares of the cell phone carrier’s stock valued at $1,074,000 after acquiring an additional 9,281 shares in the last quarter. Tidal Investments LLC grew its stake in Vodafone Group by 77.8% during the 2nd quarter. Tidal Investments LLC now owns 22,620 shares of the cell phone carrier’s stock worth $299,000 after purchasing an additional 9,895 shares in the last quarter. Finally, WINTON GROUP Ltd acquired a new stake in Vodafone Group in the 2nd quarter valued at about $805,000. Hedge funds and other institutional investors own 7.84% of the company’s stock.

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.