Comtech Telecomm. (NASDAQ:CMTL) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Thursday.
A number of other analysts have also recently commented on the stock. Zacks Investment Research upgraded shares of Comtech Telecomm. from a “hold” rating to a “strong-buy” rating and set a $24.00 price objective for the company in a research report on Tuesday, December 12th. Northland Securities set a $26.00 price objective on shares of Comtech Telecomm. and gave the company a “buy” rating in a research report on Sunday, December 10th. BMO Capital Markets upped their price objective on shares of Comtech Telecomm. to $26.00 and gave the company an “outperform” rating in a research report on Friday, December 8th. Finally, Noble Financial restated a “buy” rating on shares of Comtech Telecomm. in a research report on Friday, September 29th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Comtech Telecomm. has a consensus rating of “Buy” and a consensus target price of $21.30.
Comtech Telecomm. (NASDAQ CMTL) traded up $0.03 on Thursday, hitting $21.74. 66,736 shares of the company were exchanged, compared to its average volume of 185,043. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.25 and a current ratio of 1.77. Comtech Telecomm. has a 1-year low of $10.53 and a 1-year high of $23.90. The company has a market cap of $513.23, a PE ratio of 30.62, a P/E/G ratio of 9.79 and a beta of 1.90.
In related news, insider Michael Porcelain sold 30,000 shares of the company’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $21.41, for a total value of $642,300.00. Following the completion of the transaction, the insider now directly owns 71,668 shares of the company’s stock, valued at approximately $1,534,411.88. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Fred Kornberg sold 15,000 shares of the company’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $20.65, for a total transaction of $309,750.00. Following the completion of the transaction, the chief executive officer now directly owns 475,632 shares of the company’s stock, valued at $9,821,800.80. The disclosure for this sale can be found here. 7.00% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in CMTL. Macquarie Group Ltd. acquired a new position in Comtech Telecomm. in the 3rd quarter worth $116,000. Russell Investments Group Ltd. acquired a new position in Comtech Telecomm. in the 3rd quarter worth $117,000. SG Americas Securities LLC acquired a new position in Comtech Telecomm. in the 3rd quarter worth $156,000. Teachers Retirement System of The State of Kentucky boosted its stake in Comtech Telecomm. by 182.8% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 8,200 shares of the communications equipment provider’s stock worth $168,000 after purchasing an additional 5,300 shares during the period. Finally, Municipal Employees Retirement System of Michigan boosted its stake in Comtech Telecomm. by 58.7% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 8,840 shares of the communications equipment provider’s stock worth $181,000 after purchasing an additional 3,270 shares during the period. 86.14% of the stock is owned by hedge funds and other institutional investors.
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Comtech Telecomm. 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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