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

Vodafone Group (NASDAQ:VOD) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Sunday, Wall Street Zen reports.

VOD has been the subject of several other research reports. DZ Bank cut Vodafone Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 13th. The Goldman Sachs Group raised shares of Vodafone Group from a “sell” rating to a “buy” rating in a research report on Friday. Bank of America downgraded shares of Vodafone Group from a “neutral” rating to an “underperform” rating and set a $13.13 target price for the company. in a research report on Tuesday, May 26th. New Street Research upgraded shares of Vodafone Group from a “neutral” rating to a “buy” rating in a research note on Friday, July 10th. Finally, Barclays downgraded shares of Vodafone Group from an “overweight” rating to an “equal weight” rating in a report on Thursday, June 11th. Three equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $10.57.

Vodafone Group Price Performance

Shares of VOD stock opened at $16.90 on Friday. Vodafone Group has a fifty-two week low of $11.12 and a fifty-two week high of $17.15. The stock’s 50-day moving average is $15.44 and its two-hundred day moving average is $15.19. The company has a quick ratio of 1.11, a current ratio of 1.14 and a debt-to-equity ratio of 0.84.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of VOD. Corient Private Wealth LP boosted its position in shares of Vodafone Group by 12.0% in the second quarter. Corient Private Wealth LP now owns 125,698 shares of the cell phone carrier’s stock valued at $1,665,000 after acquiring an additional 13,503 shares during the period. Tucker Asset Management LLC bought a new position in Vodafone Group during the second quarter worth $403,000. HighTower Advisors LLC raised its stake in Vodafone Group by 36.1% during the 2nd quarter. HighTower Advisors LLC now owns 269,517 shares of the cell phone carrier’s stock valued at $3,564,000 after purchasing an additional 71,551 shares during the last quarter. Ameritas Advisory Services LLC bought a new stake in Vodafone Group in the 2nd quarter valued at $45,000. Finally, HB Wealth Management LLC bought a new stake in Vodafone Group in the 2nd quarter valued at $154,000. 7.84% of the stock is currently owned by institutional investors and hedge funds.

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.