Vodafone Group (NASDAQ:VOD) Downgraded to "Sell" Rating by The Goldman Sachs Group

Key Points

• The Goldman Sachs Group has downgraded Vodafone Group from a "neutral" to a "sell" rating, setting a target price of $136.00 for the stock.
• Vodafone's stock currently has a consensus rating of "Hold" based on ratings from various analysts, including two "sell," five "hold," and one "buy" rating.
• Institutional investors have increased their positions in Vodafone, with RNC Capital Management boosting its stake by 10.7% in the second quarter.

Vodafone Group (NASDAQ:VOD - Get Free Report) was downgraded by research analysts at The Goldman Sachs Group from a "neutral" rating to a "sell" rating in a research report issued to clients and investors on Thursday, MarketBeat Ratings reports. They presently have a $136.00 price target on the cell phone carrier's stock.

Other equities analysts also recently issued reports about the stock. Morgan Stanley assumed coverage on shares of Vodafone Group in a report on Wednesday, July 2nd. They issued an "equal weight" rating for the company. Berenberg Bank upgraded shares of Vodafone Group to a "hold" rating in a research note on Thursday, June 26th. JPMorgan Chase & Co. reaffirmed an "underweight" rating on shares of Vodafone Group in a research report on Wednesday, April 23rd. Finally, Wall Street Zen lowered Vodafone Group from a "buy" rating to a "hold" rating in a research report on Tuesday, May 27th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $136.00.

Vodafone Group Trading Up 0.9%

VOD traded up $0.10 on Thursday, reaching $11.06. 5,291,061 shares of the company traded hands, compared to its average volume of 12,296,760. Vodafone Group has a one year low of $8.00 and a one year high of $11.66. The firm has a fifty day simple moving average of $10.60 and a two-hundred day simple moving average of $9.59. The company has a market cap of $28.96 billion, a P/E ratio of 9.69, a price-to-earnings-growth ratio of 0.52 and a beta of 0.62. The company has a quick ratio of 1.23, a current ratio of 1.26 and a debt-to-equity ratio of 0.85.

Hedge Funds Weigh In On Vodafone Group

Institutional investors have recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new position in shares of Vodafone Group during the 2nd quarter valued at $25,000. Atwood & Palmer Inc. acquired a new position in Vodafone Group during the second quarter worth about $27,000. Hazlett Burt & Watson Inc. grew its stake in shares of Vodafone Group by 65.5% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 3,159 shares of the cell phone carrier's stock worth $30,000 after purchasing an additional 1,250 shares during the last quarter. Wayfinding Financial LLC acquired a new position in shares of Vodafone Group in the 1st quarter worth approximately $31,000. Finally, NBC Securities Inc. grew its holdings in shares of Vodafone Group by 116,833.3% in the 1st quarter. NBC Securities Inc. now owns 3,508 shares of the cell phone carrier's stock worth $32,000 after acquiring an additional 3,505 shares during the last quarter. Institutional investors and hedge funds own 7.84% of the company's stock.

About Vodafone Group

Vodafone Group Public Limited Company provides telecommunication services in Europe and internationally. It offers mobile connectivity services comprising end-to-end services for mobile voice and data, messaging, device management, BYOx, and telecoms management, as well as professional and consulting services; and fixed line connectivity, such as fixed voice and data, broadband, software-defined networks, managed WAN, LAN, ethernet, and satellite; and financial services, as well as business and merchant services.