Vodafone Group (NASDAQ:VOD) Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of Vodafone Group (NASDAQ:VOD) from a buy rating to a hold rating in a research report released on Sunday,Wall Street Zen reports.

A number of other equities research analysts have also recently commented on the company. DZ Bank cut Vodafone Group from a “strong-buy” rating to a “hold” rating in a research note 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 on the stock. in a report on Tuesday, May 26th. The Goldman Sachs Group upgraded Vodafone Group from a “sell” rating to a “buy” rating in a research report on Friday, September 4th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Vodafone Group in a research report on Tuesday, September 1st. Finally, New Street Research raised shares of Vodafone Group from a “neutral” rating to a “buy” rating in a research note on Friday, July 10th. Three investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $10.57.

Vodafone Group Stock Performance

VOD opened at $17.31 on Friday. The company has a fifty day moving average price of $15.52 and a two-hundred day moving average price of $15.20. The company has a quick ratio of 1.11, a current ratio of 1.14 and a debt-to-equity ratio of 0.84. Vodafone Group has a 52 week low of $11.12 and a 52 week high of $17.35.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Bayban lifted its stake in Vodafone Group by 6,696.7% in the 1st quarter. Bayban now owns 2,039 shares of the cell phone carrier’s stock valued at $31,000 after acquiring an additional 2,009 shares in the last quarter. Western Wealth Management LLC acquired a new stake in shares of Vodafone Group in the first quarter valued at approximately $34,000. Caitong International Asset Management Co. Ltd lifted its position in shares of Vodafone Group by 81.8% in the fourth 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. Assetmark Inc. boosted its holdings in Vodafone Group by 31.5% during the first quarter. Assetmark Inc. now owns 2,992 shares of the cell phone carrier’s stock worth $45,000 after purchasing an additional 717 shares during the last quarter. Finally, Manchester Capital Management LLC boosted its holdings in Vodafone Group by 207.6% during the fourth quarter. Manchester Capital Management LLC now owns 3,282 shares of the cell phone carrier’s stock worth $43,000 after purchasing an additional 2,215 shares during the last quarter. 7.84% of the stock is currently 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.