Comtech Telecomm. (CMTL) Downgraded by Zacks Investment Research

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

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

A number of other research analysts have also recently weighed in on CMTL. Northland Securities reiterated a “buy” rating on shares of Comtech Telecomm. in a research report on Friday, November 17th. BMO Capital Markets upped their price target on shares of Comtech Telecomm. to $26.00 and gave the stock an “outperform” rating in a report on Friday, December 8th. Finally, BidaskClub cut shares of Comtech Telecomm. from a “hold” rating to a “sell” rating in a report on Thursday, January 25th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $21.30.

Comtech Telecomm. (NASDAQ:CMTL) traded down $0.19 during mid-day trading on Thursday, reaching $21.17. 107,914 shares of the company’s stock were exchanged, compared to its average volume of 131,068. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.77 and a quick ratio of 1.25. Comtech Telecomm. has a fifty-two week low of $10.66 and a fifty-two week high of $23.90. The company has a market capitalization of $499.78, a PE ratio of 55.71, a price-to-earnings-growth ratio of 9.55 and a beta of 1.83.

Comtech Telecomm. (NASDAQ:CMTL) last posted its quarterly earnings data on Wednesday, December 6th. The communications equipment provider reported ($0.07) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.29) by $0.22. Comtech Telecomm. had a net margin of 3.11% and a return on equity of 1.87%. The business had revenue of $121.57 million for the quarter, compared to analysts’ expectations of $106.94 million. During the same quarter in the previous year, the business posted ($0.11) earnings per share. The business’s revenue was down 10.5% compared to the same quarter last year. equities research analysts forecast that Comtech Telecomm. will post 0.44 earnings per share for the current fiscal year.

In related news, insider Michael Porcelain sold 30,000 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 71,668 shares of the company’s stock, valued at $1,534,411.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Fred Kornberg sold 15,000 shares of the company’s stock in a transaction dated 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 sale, 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. Corporate insiders own 7.00% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of CMTL. Arrowstreet Capital Limited Partnership acquired a new position in Comtech Telecomm. in the 4th quarter worth approximately $716,000. Systematic Financial Management LP acquired a new stake in shares of Comtech Telecomm. during the 4th quarter worth approximately $1,485,000. BlackRock Inc. grew its stake in shares of Comtech Telecomm. by 3.0% during the 4th quarter. BlackRock Inc. now owns 3,141,364 shares of the communications equipment provider’s stock worth $69,487,000 after purchasing an additional 92,886 shares during the period. Rhumbline Advisers lifted its position in shares of Comtech Telecomm. by 14.7% during the 4th quarter. Rhumbline Advisers now owns 57,159 shares of the communications equipment provider’s stock valued at $1,264,000 after buying an additional 7,336 shares in the last quarter. Finally, Arizona State Retirement System lifted its position in shares of Comtech Telecomm. by 224.6% during the 4th quarter. Arizona State Retirement System now owns 39,694 shares of the communications equipment provider’s stock valued at $878,000 after buying an additional 27,465 shares in the last quarter. Hedge funds and other institutional investors own 85.95% of the company’s stock.

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About Comtech Telecomm.

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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