Comtech Telecommunications Corp. (NASDAQ:CMTL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Monday. The brokerage presently has a $21.00 target price on the communications equipment provider’s stock. Zacks Investment Research‘s target price suggests a potential upside of 12.42% from the company’s previous close.

According to Zacks, “Comtech Telecommunications Corp. designs, develops, produces and markets innovative products, systems and services for advanced communications solutions. The Company believes many of its solutions play a vital role in providing or enhancing communication capabilities when terrestrial communications infrastructure is unavailable or ineffective. The Company conducts business through three complementary segments: telecommunications transmission, mobile data communications and RF microwave amplifiers. The Company sells products to a diverse customer base in the global commercial and government communications markets. The Company believes it is a market leader in the market segments that it serves. “

A number of other equities research analysts have also commented on the stock. Noble Financial reaffirmed a “buy” rating on shares of Comtech Telecommunications Corp. in a research note on Friday, June 9th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $12.50 price objective on shares of Comtech Telecommunications Corp. in a research note on Thursday, June 8th. BMO Capital Markets reaffirmed a “buy” rating and issued a $17.00 price objective on shares of Comtech Telecommunications Corp. in a research note on Wednesday, June 7th. Citigroup Inc. upped their price objective on shares of Comtech Telecommunications Corp. from $15.00 to $18.00 and gave the company a “neutral” rating in a research note on Friday, June 9th. Finally, ValuEngine raised shares of Comtech Telecommunications Corp. from a “sell” rating to a “hold” rating in a research note on Thursday, June 15th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $18.50.

Shares of Comtech Telecommunications Corp. (NASDAQ CMTL) traded up 0.32% during trading on Monday, hitting $18.68. 102,563 shares of the stock were exchanged. The stock has a market cap of $440.29 million, a P/E ratio of 37.59 and a beta of 1.93. Comtech Telecommunications Corp. has a 52 week low of $9.52 and a 52 week high of $19.80. The firm’s 50 day moving average price is $16.50 and its 200-day moving average price is $13.58.

Comtech Telecommunications Corp. (NASDAQ:CMTL) last posted its quarterly earnings data on Wednesday, June 7th. The communications equipment provider reported $0.13 EPS for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.07. Comtech Telecommunications Corp. had a net margin of 2.02% and a return on equity of 0.81%. The company had revenue of $127.80 million for the quarter, compared to analyst estimates of $136.68 million. During the same period in the prior year, the firm posted ($0.89) EPS. The company’s quarterly revenue was up 2.9% on a year-over-year basis. On average, analysts predict that Comtech Telecommunications Corp. will post $0.65 EPS for the current year.

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Hedge funds and other institutional investors have recently modified their holdings of the company. ClariVest Asset Management LLC raised its position in shares of Comtech Telecommunications Corp. by 17.8% in the fourth quarter. ClariVest Asset Management LLC now owns 34,209 shares of the communications equipment provider’s stock valued at $687,000 after buying an additional 5,166 shares in the last quarter. Rhumbline Advisers raised its position in shares of Comtech Telecommunications Corp. by 2.2% in the fourth quarter. Rhumbline Advisers now owns 71,172 shares of the communications equipment provider’s stock valued at $1,430,000 after buying an additional 1,520 shares in the last quarter. Morgan Stanley raised its position in shares of Comtech Telecommunications Corp. by 26.9% in the fourth quarter. Morgan Stanley now owns 174,997 shares of the communications equipment provider’s stock valued at $3,515,000 after buying an additional 37,139 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Comtech Telecommunications Corp. by 4.8% in the fourth quarter. Principal Financial Group Inc. now owns 106,402 shares of the communications equipment provider’s stock valued at $2,138,000 after buying an additional 4,854 shares in the last quarter. Finally, Schroder Investment Management Group raised its position in shares of Comtech Telecommunications Corp. by 409.4% in the fourth quarter. Schroder Investment Management Group now owns 95,260 shares of the communications equipment provider’s stock valued at $1,914,000 after buying an additional 76,560 shares in the last quarter. 82.66% of the stock is currently owned by institutional investors and hedge funds.

About Comtech Telecommunications Corp.

Comtech Telecommunications Corp. designs, develops, produces and markets products, systems and services for communications solutions. The Company operates through two segments: Commercial Solutions and Government Solutions. It offers communications solutions, including command and control technologies, safety and security technologies and enterprise technologies.

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Analyst Recommendations for Comtech Telecommunications Corp. (NASDAQ:CMTL)

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