Analysts Set $2.90 Target Price for Alaska Communications Systems Group, Inc. (ALSK)

Shares of Alaska Communications Systems Group, Inc. (NASDAQ:ALSK) have earned an average broker rating score of 1.00 (Strong Buy) from the one brokers that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy recommendation.

Brokers have set a one year consensus price target of $2.90 for the company, according to Zacks. Zacks has also given Alaska Communications Systems Group an industry rank of 118 out of 265 based on the ratings given to its competitors.

Separately, TheStreet cut shares of Alaska Communications Systems Group from a “c” rating to a “d+” rating in a research note on Monday, May 22nd.

A number of hedge funds have recently made changes to their positions in ALSK. Brandes Investment Partners LP boosted its stake in Alaska Communications Systems Group by 55.8% in the first quarter. Brandes Investment Partners LP now owns 67,331 shares of the utilities provider’s stock valued at $125,000 after acquiring an additional 24,114 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Alaska Communications Systems Group by 7.2% in the first quarter. Bank of New York Mellon Corp now owns 70,473 shares of the utilities provider’s stock valued at $130,000 after acquiring an additional 4,747 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Alaska Communications Systems Group by 51.7% in the first quarter. Goldman Sachs Group Inc. now owns 102,276 shares of the utilities provider’s stock valued at $189,000 after acquiring an additional 34,865 shares during the last quarter. Northern Trust Corp raised its holdings in Alaska Communications Systems Group by 2.3% in the second quarter. Northern Trust Corp now owns 131,636 shares of the utilities provider’s stock worth $289,000 after purchasing an additional 2,952 shares during the period. Finally, Municipal Employees Retirement System of Michigan acquired a new stake in Alaska Communications Systems Group in the second quarter worth $392,000. 41.53% of the stock is currently owned by hedge funds and other institutional investors.

ILLEGAL ACTIVITY WARNING: “Analysts Set $2.90 Target Price for Alaska Communications Systems Group, Inc. (ALSK)” was posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this story on another website, it was stolen and republished in violation of United States & international copyright & trademark legislation. The correct version of this story can be accessed at https://ledgergazette.com/2017/09/24/analysts-set-2-90-target-price-for-alaska-communications-systems-group-inc-alsk.html.

Alaska Communications Systems Group (ALSK) traded down 1.36% on Wednesday, hitting $2.17. The company’s stock had a trading volume of 90,812 shares. Alaska Communications Systems Group has a 1-year low of $1.49 and a 1-year high of $2.61. The company’s market capitalization is $113.78 million. The company has a 50 day moving average price of $2.23 and a 200-day moving average price of $2.11.

Alaska Communications Systems Group (NASDAQ:ALSK) last announced its quarterly earnings data on Thursday, August 3rd. The utilities provider reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by $0.07. Alaska Communications Systems Group had a negative net margin of 0.65% and a negative return on equity of 0.01%. The business had revenue of $58.50 million during the quarter, compared to the consensus estimate of $58.72 million. During the same period in the previous year, the business posted $0.01 earnings per share. Alaska Communications Systems Group’s revenue was up 3.9% compared to the same quarter last year.

About Alaska Communications Systems Group

Alaska Communications Systems Group, Inc is a fiber broadband and managed information technology (IT) services provider. The Company is focused primarily on business and wholesale customers in and out of Alaska. The Company also provides telecommunication services to consumers across Alaska. The Company’s facilities-based communications network extends across Alaska and connects to the contiguous states through its undersea fiber optic cable systems and its usage rights on an undersea system.

Get a free copy of the Zacks research report on Alaska Communications

Brokers have set a one year consensus price target of $2.90 for the company, according to Zacks. Zacks has also given Alaska Communications Systems Group an industry rank of 118 out of 265 based on the ratings given to its competitors.

Separately, TheStreet cut shares of Alaska Communications Systems Group from a “c” rating to a “d+” rating in a research note on Monday, May 22nd.

A number of hedge funds have recently made changes to their positions in ALSK. Brandes Investment Partners LP boosted its stake in Alaska Communications Systems Group by 55.8% in the first quarter. Brandes Investment Partners LP now owns 67,331 shares of the utilities provider’s stock valued at $125,000 after acquiring an additional 24,114 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Alaska Communications Systems Group by 7.2% in the first quarter. Bank of New York Mellon Corp now owns 70,473 shares of the utilities provider’s stock valued at $130,000 after acquiring an additional 4,747 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Alaska Communications Systems Group by 51.7% in the first quarter. Goldman Sachs Group Inc. now owns 102,276 shares of the utilities provider’s stock valued at $189,000 after acquiring an additional 34,865 shares during the last quarter. Northern Trust Corp raised its holdings in Alaska Communications Systems Group by 2.3% in the second quarter. Northern Trust Corp now owns 131,636 shares of the utilities provider’s stock worth $289,000 after purchasing an additional 2,952 shares during the period. Finally, Municipal Employees Retirement System of Michigan acquired a new stake in Alaska Communications Systems Group in the second quarter worth $392,000. 41.53% of the stock is currently owned by hedge funds and other institutional investors.

ILLEGAL ACTIVITY WARNING: “Analysts Set $2.90 Target Price for Alaska Communications Systems Group, Inc. (ALSK)” was posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this story on another website, it was stolen and republished in violation of United States & international copyright & trademark legislation. The correct version of this story can be accessed at https://ledgergazette.com/2017/09/24/analysts-set-2-90-target-price-for-alaska-communications-systems-group-inc-alsk.html.

Alaska Communications Systems Group (ALSK) traded down 1.36% on Wednesday, hitting $2.17. The company’s stock had a trading volume of 90,812 shares. Alaska Communications Systems Group has a 1-year low of $1.49 and a 1-year high of $2.61. The company’s market capitalization is $113.78 million. The company has a 50 day moving average price of $2.23 and a 200-day moving average price of $2.11.

Alaska Communications Systems Group (NASDAQ:ALSK) last announced its quarterly earnings data on Thursday, August 3rd. The utilities provider reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by $0.07. Alaska Communications Systems Group had a negative net margin of 0.65% and a negative return on equity of 0.01%. The business had revenue of $58.50 million during the quarter, compared to the consensus estimate of $58.72 million. During the same period in the previous year, the business posted $0.01 earnings per share. Alaska Communications Systems Group’s revenue was up 3.9% compared to the same quarter last year.

About Alaska Communications Systems Group

Alaska Communications Systems Group, Inc is a fiber broadband and managed information technology (IT) services provider. The Company is focused primarily on business and wholesale customers in and out of Alaska. The Company also provides telecommunication services to consumers across Alaska. The Company’s facilities-based communications network extends across Alaska and connects to the contiguous states through its undersea fiber optic cable systems and its usage rights on an undersea system.

Get a free copy of the Zacks research report on Alaska Communications Systems Group (ALSK)

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