Cogeco Communications Inc (TSE:CCA) was downgraded by research analysts at TD Securities from a “hold” rating to a “reduce” rating in a research report issued on Wednesday, July 12th. They currently have a C$80.00 price objective on the stock. TD Securities’ target price would indicate a potential downside of 11.11% from the company’s current price.
Other research analysts have also recently issued reports about the stock. Desjardins cut shares of Cogeco Communications from a “buy” rating to a “hold” rating and increased their price target for the company from C$79.00 to C$87.50 in a report on Tuesday, July 11th. BMO Capital Markets reaffirmed a “market perform” rating and set a C$82.00 target price on shares of Cogeco Communications in a report on Tuesday, July 11th. Scotiabank raised their target price on shares of Cogeco Communications from C$83.00 to C$95.00 and gave the stock an “outperform” rating in a report on Tuesday, July 11th. Royal Bank Of Canada raised their target price on shares of Cogeco Communications from C$76.00 to C$81.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 11th. Finally, Barclays PLC cut shares of Cogeco Communications from an “equal weight” rating to an “underweight” rating and raised their target price for the stock from C$70.00 to C$75.00 in a report on Tuesday, April 11th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of C$82.50.
Cogeco Communications (TSE CCA) traded up 2.56% during trading on Wednesday, reaching $90.00. The company had a trading volume of 136,369 shares. The company has a 50-day moving average price of $83.04 and a 200 day moving average price of $76.63. Cogeco Communications has a 52-week low of $60.62 and a 52-week high of $90.06. The stock has a market cap of $4.43 billion and a PE ratio of 14.72.
In related news, insider René Guimond sold 900 shares of the stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of C$87.44, for a total transaction of C$78,696.00. Also, insider Elizabeth Alves sold 996 shares of the firm’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of C$87.05, for a total transaction of C$86,701.80. Insiders have sold a total of 1,996 shares of company stock worth $173,884 in the last quarter.
About Cogeco Communications
Cogeco Communications Inc, formerly Cogeco Cable Inc, is a Canada-based communications company. The Company provides residential and business customers with video, Internet and telephony services through its two-way broadband fiber networks. The Company operates through three segments: Canadian broadband services, American broadband services and Business information and communications technology (Business ICT) services.
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