Zacks Investment Research upgraded shares of Communications Systems (NASDAQ:JCS) from a hold rating to a strong-buy rating in a research note issued to investors on Friday morning, Zacks.com reports. The firm currently has $4.75 price objective on the communications equipment provider’s stock.
According to Zacks, “Communications Systems manufactures and markets connectors and wiring devices for voice, data and video communications under the Suttle brand name in the United States and internationally. The company also manufactures a line of high performance fiber-optic connectors, interconnect devices and fiber cable assemblies for the telecommunications, computer and electronics markets. The company has several manufacturing plants in the United States and abroad. “
Several other analysts have also recently issued reports on JCS. ValuEngine upgraded shares of Communications Systems from a hold rating to a buy rating in a research note on Tuesday, July 2nd. Northland Securities set a $5.00 target price on shares of Communications Systems and gave the stock a buy rating in a research note on Tuesday, May 14th.
Several institutional investors have recently bought and sold shares of the company. Bremer Bank National Association bought a new stake in shares of Communications Systems in the 1st quarter valued at about $46,000. Morgan Stanley purchased a new stake in shares of Communications Systems during the second quarter worth approximately $48,000. Gabelli Funds LLC raised its stake in shares of Communications Systems by 1.1% during the second quarter. Gabelli Funds LLC now owns 310,000 shares of the communications equipment provider’s stock worth $933,000 after purchasing an additional 3,500 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Communications Systems by 1.5% during the second quarter. Renaissance Technologies LLC now owns 513,711 shares of the communications equipment provider’s stock worth $1,546,000 after purchasing an additional 7,800 shares during the last quarter. Finally, Gamco Investors INC. ET AL raised its stake in shares of Communications Systems by 0.9% during the second quarter. Gamco Investors INC. ET AL now owns 529,525 shares of the communications equipment provider’s stock worth $1,594,000 after purchasing an additional 4,464 shares during the last quarter. Hedge funds and other institutional investors own 25.89% of the company’s stock.
About Communications Systems
Communications Systems, Inc, through its subsidiaries, manufactures and sells connectivity infrastructure products for broadband and voice communications in North America, Europe, the Middle East, Africa, and internationally. The company's Transition Networks segment designs, assembles, and markets media converters, NIDs, network interface cards, Ethernet switches, small form factor pluggable modules, and other connectivity products under the Transition Networks brand name.
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