Comtech Telecomm. (CMTL) Cut to Hold at ValuEngine
ValuEngine lowered shares of Comtech Telecomm. (NASDAQ:CMTL) from a buy rating to a hold rating in a research report released on Wednesday.
A number of other research analysts have also issued reports on the company. Zacks Investment Research lowered Comtech Telecomm. from a strong-buy rating to a hold rating in a report on Wednesday, November 28th. TheStreet lowered Comtech Telecomm. from a b- rating to a c+ rating in a report on Thursday, November 15th. BidaskClub lowered Comtech Telecomm. from a sell rating to a strong sell rating in a report on Friday, November 2nd. Finally, BMO Capital Markets boosted their target price on Comtech Telecomm. from $37.00 to $40.00 and gave the company an outperform rating in a report on Friday, September 28th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $35.17.
Shares of NASDAQ CMTL opened at $28.44 on Wednesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.69 and a quick ratio of 1.24. Comtech Telecomm. has a twelve month low of $20.25 and a twelve month high of $36.94. The company has a market capitalization of $607.20 million, a price-to-earnings ratio of 24.66, a PEG ratio of 5.27 and a beta of 1.54.
The business also recently announced a quarterly dividend, which will be paid on Friday, February 15th. Stockholders of record on Wednesday, January 16th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date of this dividend is Tuesday, January 15th. Comtech Telecomm.’s payout ratio is currently 53.33%.
In related news, Director Edwin Kantor sold 1,000 shares of the company’s stock in a transaction on Thursday, October 4th. The stock was sold at an average price of $34.55, for a total transaction of $34,550.00. Following the transaction, the director now owns 1,500 shares of the company’s stock, valued at $51,825. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Branscum sold 1,510 shares of the company’s stock in a transaction on Monday, October 15th. The stock was sold at an average price of $31.94, for a total value of $48,229.40. Following the transaction, the insider now directly owns 45,323 shares in the company, valued at approximately $1,447,616.62. The disclosure for this sale can be found here. Insiders have sold 4,010 shares of company stock worth $133,779 in the last ninety days. 7.30% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the stock. Piedmont Investment Advisors LLC acquired a new position in Comtech Telecomm. during the second quarter worth $175,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in Comtech Telecomm. during the third quarter worth $205,000. SG Americas Securities LLC grew its holdings in Comtech Telecomm. by 104.9% during the third quarter. SG Americas Securities LLC now owns 7,260 shares of the communications equipment provider’s stock worth $263,000 after acquiring an additional 3,716 shares during the period. Capital Fund Management S.A. acquired a new position in Comtech Telecomm. during the third quarter worth $265,000. Finally, Jane Street Group LLC acquired a new position in Comtech Telecomm. during the third quarter worth $266,000. 88.89% of the stock is currently owned by hedge funds and other institutional investors.
About Comtech Telecomm.
Comtech Telecommunications Corp. designs, develops, produces, and markets products, systems, and services for communications solutions. The company's Commercial Solutions segment offers ground-based equipment, including single channel per carrier modems and solid-state amplifiers that facilitate the transmission of voice, video, and data over satellite links; and traveling wave tube amplifiers, such as high power narrow-band amplifiers used to amplify signals from satellite earth stations, as well as safety and security technologies.
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