Consolidated Communications (NASDAQ:CNSL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.
According to Zacks, “Consolidated Communications Holdings, Inc. offers a wide range of telecommunications services including local and long distance telephone, Digital Phone, High-Speed Internet access and Digital TV to individuals and businesses in Illinois, Pennsylvania, and Texas. The company also offers telephone directory publishing services, wholesale transport services, billing and collection services, inside wiring services, and maintenance services. Consolidated Communications Holdings, Inc. is headquartered in Mattoon, Illinois. “
Other research analysts also recently issued reports about the company. Drexel Hamilton raised Consolidated Communications from a “hold” rating to a “buy” rating in a research note on Tuesday, January 2nd. They noted that the move was a valuation call. Jefferies Group dropped their price objective on Consolidated Communications from $21.00 to $19.00 and set a “hold” rating on the stock in a research note on Friday, November 3rd. Cowen reissued a “hold” rating and issued a $21.00 price objective on shares of Consolidated Communications in a research note on Thursday, October 19th. Finally, ValuEngine downgraded Consolidated Communications from a “hold” rating to a “sell” rating in a research note on Sunday, December 31st. Two analysts have rated the stock with a sell rating, three have issued a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Consolidated Communications currently has a consensus rating of “Buy” and an average target price of $22.00.
Shares of Consolidated Communications (NASDAQ CNSL) traded down $0.16 during trading hours on Tuesday, hitting $12.54. The stock had a trading volume of 896,842 shares, compared to its average volume of 1,312,330. The firm has a market cap of $899.62, a P/E ratio of -23.22, a price-to-earnings-growth ratio of 22.39 and a beta of 0.74. The company has a debt-to-equity ratio of 4.61, a current ratio of 0.88 and a quick ratio of 0.88. Consolidated Communications has a 12 month low of $12.03 and a 12 month high of $26.79.
In other news, Director Robert J. Currey bought 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The stock was acquired at an average cost of $13.43 per share, with a total value of $67,150.00. Following the transaction, the director now directly owns 45,995 shares of the company’s stock, valued at approximately $617,712.85. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas A. Gerke bought 6,850 shares of the firm’s stock in a transaction that occurred on Tuesday, November 7th. The stock was purchased at an average cost of $14.63 per share, with a total value of $100,215.50. Following the completion of the transaction, the director now directly owns 12,667 shares in the company, valued at $185,318.21. The disclosure for this purchase can be found here. Insiders purchased a total of 17,550 shares of company stock valued at $247,203 over the last ninety days. 3.00% of the stock is currently owned by corporate insiders.
Institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC bought a new stake in Consolidated Communications in the 2nd quarter valued at about $127,000. QS Investors LLC increased its position in Consolidated Communications by 17,467.6% in the 2nd quarter. QS Investors LLC now owns 6,500 shares of the utilities provider’s stock valued at $140,000 after buying an additional 6,463 shares in the last quarter. Advisor Group Inc. increased its position in Consolidated Communications by 28.7% in the 2nd quarter. Advisor Group Inc. now owns 8,268 shares of the utilities provider’s stock valued at $167,000 after buying an additional 1,846 shares in the last quarter. Bank of Montreal Can increased its position in Consolidated Communications by 259.5% in the 4th quarter. Bank of Montreal Can now owns 14,138 shares of the utilities provider’s stock valued at $173,000 after buying an additional 10,205 shares in the last quarter. Finally, Crossmark Global Holdings Inc. bought a new stake in Consolidated Communications in the 3rd quarter valued at about $194,000. 70.79% of the stock is owned by institutional investors and hedge funds.
Consolidated Communications Company Profile
Consolidated Communications Holdings, Inc is a holding company with operating subsidiaries that provide integrated communications services in consumer, commercial and carrier channels in California, Illinois, Iowa, Kansas, Minnesota, Missouri, North Dakota, Pennsylvania, South Dakota, Texas and Wisconsin.
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