Vodafone Group (NASDAQ:VOD) Rating Lowered to Strong Sell at Zacks Research

Vodafone Group (NASDAQ:VOD) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Thursday, Zacks reports.

VOD has been the subject of a number of other reports. Barclays downgraded shares of Vodafone Group from an “overweight” rating to an “equal weight” rating in a report on Thursday, June 11th. The Goldman Sachs Group raised shares of Vodafone Group from a “sell” rating to a “buy” rating in a research report on Friday, September 4th. Weiss Ratings reissued a “sell (d+)” rating on shares of Vodafone Group in a research report on Tuesday, September 1st. New Street Research upgraded shares of Vodafone Group from a “neutral” rating to a “buy” rating in a research note on Friday, July 10th. Finally, Wall Street Zen raised shares of Vodafone Group from a “hold” rating to a “buy” rating in a report on Monday, September 14th. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $10.57.

Vodafone Group Price Performance

Shares of NASDAQ VOD opened at $16.95 on Thursday. Vodafone Group has a 1-year low of $11.12 and a 1-year high of $17.71. The business has a fifty day moving average price of $16.17 and a 200 day moving average price of $15.30. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.11 and a current ratio of 1.14.

Hedge Funds Weigh In On Vodafone Group

Several hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp grew its position in Vodafone Group by 9,637.5% during the 4th quarter. Bank of New York Mellon Corp now owns 8,902,486 shares of the cell phone carrier’s stock worth $117,602,000 after purchasing an additional 8,811,061 shares during the period. ACR Alpine Capital Research LLC boosted its stake in shares of Vodafone Group by 3.0% in the first quarter. ACR Alpine Capital Research LLC now owns 26,854,952 shares of the cell phone carrier’s stock worth $403,361,000 after buying an additional 784,305 shares during the last quarter. Merit Financial Group LLC grew its holdings in Vodafone Group by 7,003.0% during the second quarter. Merit Financial Group LLC now owns 788,577 shares of the cell phone carrier’s stock worth $10,429,000 after acquiring an additional 777,475 shares during the period. Independent Financial Group LLC purchased a new position in Vodafone Group during the first quarter valued at approximately $8,406,000. Finally, Amundi acquired a new position in Vodafone Group in the first quarter valued at approximately $8,060,000. Institutional investors and hedge funds own 7.84% of the company’s stock.

Vodafone Group Company Profile

Vodafone Group Plc is a British multinational telecommunications company that provides mobile and fixed-line connectivity, broadband, voice, messaging and related digital services. Its offerings serve individual consumers, households, businesses and public-sector organizations, with services delivered through local Vodafone operations and partner networks.

The company also provides enterprise communications and technology solutions, including cloud and hosting services, cybersecurity, the Internet of Things, unified communications and managed connectivity.