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

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

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

Vodafone Group Stock Performance

NASDAQ:VOD opened at $14.94 on Tuesday. Vodafone Group has a 12 month low of $9.80 and a 12 month 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 company’s 50 day moving average is $15.23 and its 200-day moving average is $14.20.

Institutional Investors Weigh In On Vodafone Group

Institutional investors and hedge funds have recently made changes to their positions in the company. Bayban boosted its stake in shares of 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 purchasing an additional 2,009 shares in the last quarter. Assetmark Inc. lifted its position in Vodafone Group by 156.8% during the 4th quarter. Assetmark Inc. now owns 2,275 shares of the cell phone carrier’s stock worth $30,000 after buying an additional 1,389 shares in the last quarter. Western Wealth Management LLC acquired a new position in Vodafone Group during the 1st quarter worth about $34,000. American Capital Advisory LLC lifted its position 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 buying an additional 696 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its position 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 buying an additional 1,193 shares in the last quarter. Institutional investors and hedge funds own 7.84% of the company’s stock.

Vodafone Group Company Profile

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.