Wall Street Zen Downgrades Comstock Holding Companies (NASDAQ:CHCI) to Buy

Key Points

• Wall Street Zen downgraded Comstock Holding Companies from “strong buy” to “buy,” while Weiss Ratings maintained a “hold (C+)” rating; the overall analyst consensus remains “Hold.”
• CHCI shares opened at $20.05, near their 52-week high of $20.40, giving the company a market capitalization of $206.15 million. The stock has risen above its 50-day and 200-day moving averages.
• Comstock reported quarterly EPS of $0.84 on revenue of $22.58 million, with a 32.16% net margin and 35.60% return on equity. Institutional investors own 6.45% of the company’s shares.

Comstock Holding Companies (NASDAQ:CHCI - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research note issued to investors on Saturday.

Separately, Weiss Ratings reiterated a "hold (c+)" rating on shares of Comstock Holding Companies in a research note on Wednesday, June 24th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold".

Comstock Holding Companies Trading Up 0.9%

NASDAQ CHCI opened at $20.05 on Friday. The firm has a market capitalization of $206.15 million, a price-to-earnings ratio of 8.50 and a beta of -0.41. The firm's 50 day simple moving average is $16.13 and its 200 day simple moving average is $15.57. Comstock Holding Companies has a 1 year low of $10.14 and a 1 year high of $20.40.

Comstock Holding Companies (NASDAQ:CHCI - Get Free Report) last announced its quarterly earnings data on Thursday, August 13th. The construction company reported $0.84 EPS for the quarter. Comstock Holding Companies had a net margin of 32.16% and a return on equity of 35.60%. The business had revenue of $22.58 million during the quarter.

Hedge Funds Weigh In On Comstock Holding Companies

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC boosted its position in Comstock Holding Companies by 437.7% in the fourth quarter. Barclays PLC now owns 3,839 shares of the construction company's stock valued at $45,000 after buying an additional 3,125 shares in the last quarter. Sfmg LLC acquired a new position in shares of Comstock Holding Companies during the fourth quarter worth $116,000. Quadrature Capital Ltd bought a new position in shares of Comstock Holding Companies in the 4th quarter valued at $144,000. NewEdge Advisors LLC boosted its holdings in shares of Comstock Holding Companies by 2,573.9% during the 3rd quarter. NewEdge Advisors LLC now owns 12,273 shares of the construction company's stock valued at $172,000 after acquiring an additional 11,814 shares in the last quarter. Finally, Mink Brook Asset Management LLC acquired a new stake in shares of Comstock Holding Companies during the 4th quarter valued at $190,000. Institutional investors own 6.45% of the company's stock.

Comstock Holding Companies Company Profile

Comstock Holding Companies, Inc NASDAQ: CHCI is a diversified holding company that, through its primary operating subsidiary, focuses on the design, construction and operation of fiber optic network systems in the United States. The company delivers high-capacity connectivity solutions to broadband service providers, including dark fiber leasing, wavelength services, transport and last-mile connectivity. By partnering with carriers, cable operators and municipal entities, Comstock leverages its network infrastructure to support residential, commercial and institutional customers requiring scalable, reliable bandwidth.

Following the divestiture of its homebuilding division in 2013, Comstock has concentrated its capital and resources on expanding its fiber network footprint into select regional markets.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source