Vodafone Group (NASDAQ:VOD) Upgraded to Buy at The Goldman Sachs Group

Key Points

• Goldman Sachs upgraded Vodafone Group from “sell” to “buy,” while the broader analyst consensus remains “hold,” with three buys, four holds, three sells, and a $10.57 consensus price target.
• Vodafone shares rose 3.2% to open at $16.58, near their 12-month high of $16.68; the stock’s 50-day and 200-day moving averages were $15.32 and $15.17, respectively.
• Institutional investors own 7.84% of Vodafone, with several funds recently increasing their positions or establishing new stakes.

Vodafone Group (NASDAQ:VOD - Get Free Report) was upgraded by equities researchers at The Goldman Sachs Group from a "sell" rating to a "buy" rating in a research report issued on Friday, Briefing.com reports.

A number of other equities research analysts have also recently commented on the company. Bank of America cut Vodafone Group from a "neutral" rating to an "underperform" rating and set a $13.13 price target for the company. in a research note on Tuesday, May 26th. DZ Bank downgraded shares of Vodafone Group from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 13th. Barclays lowered shares of Vodafone Group from an "overweight" rating to an "equal weight" rating in a research note on Thursday, June 11th. 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, Weiss Ratings reissued a "sell (d+)" rating on shares of Vodafone Group in a report on Tuesday. Three investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Vodafone Group currently has an average rating of "Hold" and a consensus target price of $10.57.

Vodafone Group Trading Up 3.2%

Shares of VOD opened at $16.58 on Friday. The company has a current ratio of 1.14, a quick ratio of 1.11 and a debt-to-equity ratio of 0.84. Vodafone Group has a 12 month low of $11.12 and a 12 month high of $16.68. The stock has a fifty day moving average price of $15.32 and a 200-day moving average price of $15.17.

Hedge Funds Weigh In On Vodafone Group

Institutional investors have recently made changes to their positions in the company. Bayban boosted its holdings in Vodafone Group by 6,696.7% during the first quarter. Bayban now owns 2,039 shares of the cell phone carrier's stock worth $31,000 after buying an additional 2,009 shares in the last quarter. Western Wealth Management LLC purchased a new position in Vodafone Group in the first quarter valued at $34,000. Caitong International Asset Management Co. Ltd raised its position in shares of Vodafone Group by 81.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,651 shares of the cell phone carrier's stock worth $35,000 after acquiring an additional 1,193 shares during the period. CIBC Private Wealth Group LLC boosted its stake in shares of Vodafone Group by 38.0% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 3,435 shares of the cell phone carrier's stock worth $40,000 after acquiring an additional 946 shares in the last quarter. Finally, Manchester Capital Management LLC grew its position in shares of Vodafone Group by 207.6% during the 4th quarter. Manchester Capital Management LLC now owns 3,282 shares of the cell phone carrier's stock valued at $43,000 after acquiring an additional 2,215 shares during the period. 7.84% of the stock is 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.

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