Comtech Telecommunications Corp. (NASDAQ:CMTL) Stock Rating Upgraded by Zacks Investment Research

Comtech Telecommunications Corp. (NASDAQ:CMTL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Monday, July 17th. The firm presently has a $21.00 price target on the communications equipment provider’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 15.07% from the stock’s previous close.

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

Several other equities research analysts have also issued reports on the stock. Noble Financial restated a “buy” rating on shares of Comtech Telecommunications Corp. in a research note on Friday, June 9th. BMO Capital Markets reissued a “buy” rating and issued a $17.00 price target on shares of Comtech Telecommunications Corp. in a report on Wednesday, June 7th. BidaskClub downgraded shares of Comtech Telecommunications Corp. from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 16th. Northland Securities set a $22.00 price target on shares of Comtech Telecommunications Corp. and gave the company a “buy” rating in a report on Monday, July 10th. Finally, ValuEngine raised shares of Comtech Telecommunications Corp. from a “sell” rating to a “hold” rating in a report on Thursday, June 15th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. Comtech Telecommunications Corp. currently has a consensus rating of “Hold” and an average target price of $18.42.

Shares of Comtech Telecommunications Corp. (CMTL) traded up 0.16% during mid-day trading on Monday, hitting $18.25. The stock had a trading volume of 117,331 shares. The firm’s 50 day moving average price is $18.63 and its 200 day moving average price is $15.04. The company has a market cap of $430.15 million, a P/E ratio of 36.72 and a beta of 1.93. Comtech Telecommunications Corp. has a 1-year low of $9.52 and a 1-year high of $19.80.

Comtech Telecommunications Corp. (NASDAQ:CMTL) last announced its quarterly earnings results on Wednesday, June 7th. The communications equipment provider reported $0.13 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.07. Comtech Telecommunications Corp. had a net margin of 2.02% and a return on equity of 0.81%. The business had revenue of $127.80 million for the quarter, compared to analysts’ expectations of $136.68 million. During the same quarter last year, the firm earned ($0.89) EPS. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. Analysts predict that Comtech Telecommunications Corp. will post $0.65 earnings per share for the current fiscal year.

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Hedge funds have recently bought and sold shares of the company. Municipal Employees Retirement System of Michigan increased its stake in Comtech Telecommunications Corp. by 3.9% in the second quarter. Municipal Employees Retirement System of Michigan now owns 5,570 shares of the communications equipment provider’s stock worth $106,000 after buying an additional 210 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in Comtech Telecommunications Corp. by 12.3% in the first quarter. Public Employees Retirement System of Ohio now owns 8,957 shares of the communications equipment provider’s stock worth $132,000 after buying an additional 984 shares in the last quarter. OMERS ADMINISTRATION Corp bought a new stake in Comtech Telecommunications Corp. during the first quarter worth about $159,000. Arizona State Retirement System increased its stake in Comtech Telecommunications Corp. by 0.8% in the first quarter. Arizona State Retirement System now owns 12,229 shares of the communications equipment provider’s stock worth $180,000 after buying an additional 100 shares in the last quarter. Finally, American International Group Inc. increased its stake in Comtech Telecommunications Corp. by 7.9% in the first quarter. American International Group Inc. now owns 13,721 shares of the communications equipment provider’s stock worth $202,000 after buying an additional 1,010 shares in the last quarter. 82.59% of the stock is owned by institutional investors.

Comtech Telecommunications Corp. 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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