A number of other brokerages also recently commented on CMTL. Citigroup upped their target price on Comtech Telecomm. from $32.00 to $36.00 and gave the stock a neutral rating in a research note on Thursday, September 26th. Zacks Investment Research downgraded Comtech Telecomm. from a buy rating to a hold rating in a research report on Monday, August 12th. Northland Securities reiterated a buy rating and set a $42.00 price target on shares of Comtech Telecomm. in a research report on Wednesday, September 25th. Finally, BidaskClub upgraded Comtech Telecomm. from a buy rating to a strong-buy rating in a research report on Saturday, November 2nd. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $36.50.
NASDAQ:CMTL traded up $0.03 during mid-day trading on Tuesday, hitting $36.02. 144,200 shares of the company’s stock traded hands, compared to its average volume of 139,180. Comtech Telecomm. has a twelve month low of $20.94 and a twelve month high of $36.96. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.41 and a current ratio of 1.93. The company has a market capitalization of $875.83 million, a P/E ratio of 26.88, a P/E/G ratio of 4.98 and a beta of 1.51. The company has a fifty day moving average of $33.02 and a 200 day moving average of $28.21.
The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Wednesday, October 16th were given a dividend of $0.10 per share. The ex-dividend date was Tuesday, October 15th. This represents a $0.40 dividend on an annualized basis and a yield of 1.11%. Comtech Telecomm.’s dividend payout ratio is currently 29.85%.
In other Comtech Telecomm. news, VP Richard L. Burt sold 40,703 shares of the stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $34.33, for a total transaction of $1,397,333.99. Following the transaction, the vice president now owns 70,187 shares in the company, valued at $2,409,519.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 7.30% of the company’s stock.
A number of hedge funds have recently modified their holdings of CMTL. FMR LLC boosted its position in Comtech Telecomm. by 13.6% during the first quarter. FMR LLC now owns 81,397 shares of the communications equipment provider’s stock worth $1,890,000 after purchasing an additional 9,760 shares in the last quarter. WINTON GROUP Ltd purchased a new position in Comtech Telecomm. during the second quarter worth approximately $286,000. Arizona State Retirement System boosted its position in Comtech Telecomm. by 1.5% during the second quarter. Arizona State Retirement System now owns 37,443 shares of the communications equipment provider’s stock worth $1,053,000 after purchasing an additional 565 shares in the last quarter. Alpha Windward LLC raised its holdings in shares of Comtech Telecomm. by 21.6% during the second quarter. Alpha Windward LLC now owns 21,240 shares of the communications equipment provider’s stock valued at $620,000 after acquiring an additional 3,780 shares during the last quarter. Finally, Aperio Group LLC acquired a new position in shares of Comtech Telecomm. during the second quarter valued at approximately $111,000. Institutional investors own 86.10% of the company’s stock.
About Comtech Telecomm.
Comtech Telecommunications Corp. designs, develops, produces, and markets products, systems, and services for communications solutions. The company's Commercial Solutions segment offers ground-based equipment, including single channel per carrier modems and solid-state amplifiers that facilitate the transmission of voice, video, and data over satellite links; and traveling wave tube amplifiers, such as high power narrow-band amplifiers used to amplify signals from satellite earth stations, as well as safety and security technologies.
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