Zacks Investment Research upgraded shares of Communications Systems Inc. (NASDAQ:JCS) from a hold rating to a buy rating in a report released on Wednesday morning. Zacks Investment Research currently has $4.00 target price on the 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. “
Shares of Communications Systems (NASDAQ:JCS) opened at 4.38 on Wednesday. Communications Systems has a 52 week low of $3.41 and a 52 week high of $8.59. The firm’s market cap is $38.82 million. The company has a 50 day moving average of $4.46 and a 200 day moving average of $6.04.
A number of large investors have recently modified their holdings of the stock. Bank of New York Mellon Corp increased its stake in shares of Communications Systems by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 14,337 shares of the company’s stock worth $100,000 after buying an additional 38 shares during the last quarter. Teton Advisors Inc. increased its stake in shares of Communications Systems by 24.0% in the second quarter. Teton Advisors Inc. now owns 378,590 shares of the company’s stock worth $2,639,000 after buying an additional 73,200 shares during the last quarter. Gamco Investors INC. ET AL increased its stake in shares of Communications Systems by 30.6% in the second quarter. Gamco Investors INC. ET AL now owns 587,958 shares of the company’s stock worth $4,098,000 after buying an additional 137,883 shares during the last quarter. Finally, Gabelli Funds LLC increased its stake in shares of Communications Systems by 63.3% in the second quarter. Gabelli Funds LLC now owns 392,000 shares of the company’s stock worth $2,732,000 after buying an additional 152,000 shares during the last quarter. 37.43% of the stock is owned by institutional investors.
Communications Systems Company Profile
Communications Systems, Inc (CSI) operates directly and through its subsidiaries located in the United States, Costa Rica and the United Kingdom. The Company operates through three segments: Suttle, Transition Networks and JDL Technologies (JDL). The Company provides physical connectivity infrastructure products and services for global deployments of broadband networks.
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