Vodafone Group (NASDAQ:VOD) Raised to Strong-Buy at Zacks Research

Vodafone Group (NASDAQ:VOD) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Wednesday,Zacks.com reports.

VOD has been the subject of several other reports. Weiss Ratings upgraded shares of Vodafone Group from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, April 17th. UBS Group upgraded shares of Vodafone Group from a “strong sell” rating to a “hold” rating in a report on Monday, March 23rd. Finally, Berenberg Bank upgraded shares of Vodafone Group from a “hold” rating to a “buy” rating in a report on Wednesday, January 7th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $72.00.

Vodafone Group Price Performance

Shares of VOD opened at $15.80 on Wednesday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.13 and a current ratio of 1.17. Vodafone Group has a one year low of $8.98 and a one year high of $15.94. The company has a 50-day simple moving average of $15.12 and a two-hundred day simple moving average of $13.78.

Hedge Funds Weigh In On Vodafone Group

Large investors have recently made changes to their positions in the business. Dupree Financial Group LLC purchased a new position in Vodafone Group in the 3rd quarter worth approximately $3,097,000. Y Intercept Hong Kong Ltd raised its holdings in Vodafone Group by 274.6% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 193,827 shares of the cell phone carrier’s stock worth $2,248,000 after acquiring an additional 142,086 shares during the last quarter. Ritholtz Wealth Management raised its holdings in Vodafone Group by 17.3% in the 3rd quarter. Ritholtz Wealth Management now owns 643,452 shares of the cell phone carrier’s stock worth $7,464,000 after acquiring an additional 95,088 shares during the last quarter. Caprock Group LLC purchased a new position in Vodafone Group in the 3rd quarter worth approximately $1,408,000. Finally, Aquatic Capital Management LLC purchased a new position in Vodafone Group in the 3rd quarter worth approximately $7,492,000. 7.84% of the stock is currently owned by hedge funds and other institutional investors.

About Vodafone Group

Vodafone Group plc is a British multinational telecommunications company headquartered in London. It provides a wide range of communications services to consumer and enterprise customers, including mobile voice and data, fixed-line broadband, cable and pay-TV, and wholesale network services. The company also offers business-oriented solutions such as cloud and hosting, managed networks, unified communications, and Internet of Things (IoT) connectivity and platform services.

Vodafone operates through a combination of wholly owned subsidiaries, joint ventures and partner arrangements across multiple countries, with a particularly large presence in Europe and in several African markets.