Comtech Telecommunications Corp. (NASDAQ:CMTL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday.

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 research analysts have also recently commented on the company. Noble Financial reaffirmed a “buy” rating on shares of Comtech Telecommunications Corp. in a research note on Friday, June 9th. Jefferies Group LLC reissued 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 reissued 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 increased their price objective on Comtech Telecommunications Corp. from $15.00 to $18.00 and gave the stock a “neutral” rating in a research note on Friday, June 9th. Finally, ValuEngine raised Comtech Telecommunications Corp. from a “sell” rating to a “hold” rating in a research note on Thursday, June 15th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $18.50.

Comtech Telecommunications Corp. (NASDAQ:CMTL) traded down 0.54% during midday trading on Tuesday, reaching $18.58. The company’s stock had a trading volume of 132,900 shares. Comtech Telecommunications Corp. has a 12-month low of $9.52 and a 12-month high of $19.80. The company’s 50-day moving average is $16.50 and its 200 day moving average is $13.58. The firm has a market cap of $437.93 million, a price-to-earnings ratio of 37.38 and a beta of 1.93.

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

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A number of hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp raised its stake in Comtech Telecommunications Corp. by 6.5% in the first quarter. Bank of New York Mellon Corp now owns 715,651 shares of the communications equipment provider’s stock worth $10,548,000 after buying an additional 43,589 shares in the last quarter. Great West Life Assurance Co. Can raised its stake in Comtech Telecommunications Corp. by 11.7% in the first quarter. Great West Life Assurance Co. Can now owns 32,948 shares of the communications equipment provider’s stock worth $485,000 after buying an additional 3,444 shares in the last quarter. Wells Fargo & Company MN raised its stake in Comtech Telecommunications Corp. by 5.1% in the first quarter. Wells Fargo & Company MN now owns 18,967 shares of the communications equipment provider’s stock worth $280,000 after buying an additional 913 shares in the last quarter. Profit Investment Management LLC raised its stake in Comtech Telecommunications Corp. by 29.9% in the first quarter. Profit Investment Management LLC now owns 62,694 shares of the communications equipment provider’s stock worth $924,000 after buying an additional 14,442 shares in the last quarter. Finally, Capstone Asset Management Co. raised its stake in Comtech Telecommunications Corp. by 1.0% in the first quarter. Capstone Asset Management Co. now owns 23,282 shares of the communications equipment provider’s stock worth $343,000 after buying an additional 230 shares in the last quarter. Institutional investors own 82.66% of the company’s stock.

Comtech Telecommunications Corp. Company Profile

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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