Comtech Telecommunications Corp. (NASDAQ:CMTL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

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. “

A number of other brokerages have also recently issued reports on CMTL. BMO Capital Markets restated a “buy” rating and issued a $21.00 price objective on shares of Comtech Telecommunications Corp. in a research note on Thursday, September 28th. Noble Financial restated a “buy” rating on shares of Comtech Telecommunications Corp. in a research note on Friday, September 29th. BidaskClub cut shares of Comtech Telecommunications Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. ValuEngine upgraded shares of Comtech Telecommunications Corp. from a “sell” rating to a “hold” rating in a research note on Thursday, June 15th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $12.50 target price on shares of Comtech Telecommunications Corp. in a research report on Thursday, June 8th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Comtech Telecommunications Corp. currently has an average rating of “Hold” and an average target price of $19.25.

Shares of Comtech Telecommunications Corp. (NASDAQ CMTL) traded down 0.43% during midday trading on Friday, hitting $20.62. 139,345 shares of the company were exchanged. The stock’s 50-day moving average is $19.86 and its 200-day moving average is $17.22. Comtech Telecommunications Corp. has a one year low of $9.52 and a one year high of $21.40. The stock has a market cap of $486.32 million, a PE ratio of 30.78 and a beta of 1.93.

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

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

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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