Cogeco Communications (TSE:CCA) had its price objective boosted by research analysts at CIBC from C$103.00 to C$109.00 in a research report issued to clients and investors on Thursday, BayStreet.CA reports. CIBC’s price objective would suggest a potential upside of 3.98% from the company’s current price.
Several other brokerages have also recently issued reports on CCA. Royal Bank of Canada restated a “hold” rating and issued a $0.35 target price on shares of DB Commodity Double Short ETN in a report on Friday, July 12th. National Bank Financial increased their price target on shares of Wesdome Gold Mines from C$6.00 to C$6.25 and gave the stock an “outperform” rating in a research note on Friday, July 12th. BMO Capital Markets increased their price target on shares of Cogeco Communications from C$95.00 to C$100.00 in a research note on Friday, July 12th. Canaccord Genuity increased their price target on shares of Cogeco Communications from C$97.00 to C$104.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. Finally, Echelon Wealth Partners increased their price target on shares of Cogeco Communications from C$98.00 to C$106.00 and gave the stock a “buy” rating in a research note on Tuesday. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of C$100.00.
Shares of Cogeco Communications stock opened at C$104.83 on Thursday. The firm has a fifty day moving average of C$95.60. Cogeco Communications has a 12-month low of C$61.68 and a 12-month high of C$107.22. The company has a debt-to-equity ratio of 136.92, a quick ratio of 1.71 and a current ratio of 1.80. The firm has a market cap of $5.26 billion and a PE ratio of 15.02.
In other Cogeco Communications news, Director Louis Audet sold 15,028 shares of the company’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of C$104.60, for a total transaction of C$1,571,928.80. Following the completion of the transaction, the director now owns 90,980 shares in the company, valued at approximately C$9,516,508. Also, Senior Officer Pierre Maheux sold 274 shares of the company’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of C$105.35, for a total transaction of C$28,865.90. Following the transaction, the insider now owns 1,934 shares of the company’s stock, valued at approximately C$203,746.90.
About Cogeco Communications
Cogeco Communications Inc operates as a communications corporation in North America. The company operates in three segments: Canadian Broadband Services; American Broadband Services; and Business Information and Communications Technology Services. It offers digital video and programming services, such as basic services, digital tier packages, discretionary services, pay-per-view channels, video-on-demand services, high definition and 4K television services, and advanced video services; Internet services; and telephony services to residential customers comprising direct international calling, international long distance plans, voicemail, and other custom calling features.
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