Comtech Telecommunications Corp. (NASDAQ:CMTL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The brokerage currently has a $22.00 price target on the communications equipment provider’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 7.53% from the stock’s current price.

According to Zacks, “Comtech Telecommunications Corp. designs and produces a wide range of telecom systems and services. The company’s telecom transmission division markets such products as satellite earth station equipment and over-the-horizon microwave systems. The mobile data communications department offers mobile satellite transceivers and satellite packet data networks. Comtech also manufactures broadband amplifiers in the microwave and radio frequency spectrums. Its amplifiers are used in both defense and commercial applications. It offers communications solutions, including command and control technologies, safety and security technologies and enterprise technologies. Its Commercial Solutions segment provides satellite communications (such as satellite earth station modems and traveling wave tube amplifiers), public safety systems (such as next generation 911 technologies) and enterprise application technologies (such as messaging and trusted location-based technologies. “

Several other research analysts have also weighed in on the company. Noble Financial reaffirmed a “buy” rating on shares of Comtech Telecommunications Corp. in a research report on Friday, June 9th. BMO Capital Markets reissued a “buy” rating and issued a $17.00 target price on shares of Comtech Telecommunications Corp. in a research note on Wednesday, June 7th. BidaskClub lowered shares of Comtech Telecommunications Corp. from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 16th. Northland Securities set a $22.00 price target on shares of Comtech Telecommunications Corp. and gave the company a “buy” rating in a research note on Monday, July 10th. Finally, ValuEngine upgraded shares of Comtech Telecommunications Corp. from a “sell” rating to a “hold” rating in a research note on Thursday, June 15th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $19.25.

Shares of Comtech Telecommunications Corp. (CMTL) traded up 1.89% during midday trading on Wednesday, reaching $20.46. 320,078 shares of the company were exchanged. Comtech Telecommunications Corp. has a 52-week low of $9.52 and a 52-week high of $21.40. The company has a market capitalization of $482.55 million, a P/E ratio of 30.54 and a beta of 1.93. The stock has a 50-day moving average price of $19.77 and a 200 day moving average price of $17.17.

Comtech Telecommunications Corp. (NASDAQ:CMTL) last posted its quarterly earnings data on Wednesday, September 27th. The communications equipment provider reported $0.31 EPS for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.02. The company had revenue of $147.80 million during the quarter, compared to the consensus estimate of $150.57 million. Comtech Telecommunications Corp. had a net margin of 2.88% and a return on equity of 1.70%. The company’s quarterly revenue was down 3.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.14 EPS. Equities research analysts expect that Comtech Telecommunications Corp. will post $0.41 EPS for the current fiscal year.

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Several hedge funds and other institutional investors have recently made changes to their positions in the company. Municipal Employees Retirement System of Michigan lifted its holdings in Comtech Telecommunications Corp. by 3.9% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 5,570 shares of the communications equipment provider’s stock worth $106,000 after purchasing an additional 210 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in Comtech Telecommunications Corp. by 12.3% in the 1st quarter. Public Employees Retirement System of Ohio now owns 8,957 shares of the communications equipment provider’s stock valued at $132,000 after purchasing an additional 984 shares during the period. Arizona State Retirement System grew its holdings in Comtech Telecommunications Corp. by 0.8% in the 1st quarter. Arizona State Retirement System now owns 12,229 shares of the communications equipment provider’s stock valued at $180,000 after buying an additional 100 shares in the last quarter. American International Group Inc. grew its holdings in Comtech Telecommunications Corp. by 7.9% in the 1st quarter. American International Group Inc. now owns 13,721 shares of the communications equipment provider’s stock valued at $202,000 after buying an additional 1,010 shares in the last quarter. Finally, BNP Paribas Arbitrage SA grew its holdings in Comtech Telecommunications Corp. by 49.1% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 12,055 shares of the communications equipment provider’s stock valued at $229,000 after buying an additional 3,972 shares in the last quarter. Institutional investors own 88.77% 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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