Level 3 Communications Inc. (NYSE:LVLT) was upgraded by investment analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research note issued to investors on Friday.

Other equities analysts have also issued reports about the company. Citigroup Inc. reissued a “buy” rating and issued a $66.00 price target on shares of Level 3 Communications in a research note on Friday, July 15th. Goldman Sachs Group Inc. reissued a “buy” rating on shares of Level 3 Communications in a research note on Wednesday, July 6th. DA Davidson reissued a “buy” rating and issued a $68.00 price target on shares of Level 3 Communications in a research note on Wednesday, July 6th. Zacks Investment Research raised Level 3 Communications from a “hold” rating to a “buy” rating and set a $63.00 target price on the stock in a research report on Tuesday, July 26th. Finally, Jefferies Group lowered their target price on Level 3 Communications from $67.00 to $63.00 and set a “buy” rating on the stock in a research report on Thursday, July 28th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have assigned a buy rating to the stock. Level 3 Communications currently has an average rating of “Buy” and an average target price of $61.44.

Analyst Recommendations for Level 3 Communications (NYSE:LVLT)

Shares of Level 3 Communications (NYSE:LVLT) opened at 45.09 on Friday. The firm has a market cap of $16.21 billion, a P/E ratio of 4.53 and a beta of 1.75. Level 3 Communications has a one year low of $41.73 and a one year high of $57.59. The firm’s 50-day moving average price is $47.88 and its 200 day moving average price is $51.10.

Level 3 Communications (NYSE:LVLT) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.09. Level 3 Communications had a return on equity of 7.14% and a net margin of 43.75%. The firm had revenue of $2.06 billion for the quarter, compared to analyst estimates of $2.08 billion. During the same period in the previous year, the firm earned $0.42 earnings per share. The company’s revenue was up .9% compared to the same quarter last year. Analysts predict that Level 3 Communications will post $1.66 EPS for the current year.

In other news, EVP John Michael Ryan sold 6,000 shares of the stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $49.61, for a total transaction of $297,660.00. Following the completion of the transaction, the executive vice president now owns 109,956 shares in the company, valued at approximately $5,454,917.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Hector Alonso sold 1,625 shares of the stock in a transaction on Tuesday, October 4th. The stock was sold at an average price of $45.80, for a total value of $74,425.00. Following the transaction, the insider now owns 123,853 shares of the company’s stock, valued at approximately $5,672,467.40. The disclosure for this sale can be found here. 0.49% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Jericho Capital Asset Management L.P. increased its position in Level 3 Communications by 27.3% in the first quarter. Jericho Capital Asset Management L.P. now owns 2,044,344 shares of the company’s stock valued at $108,044,000 after buying an additional 438,559 shares during the last quarter. Renaissance Technologies LLC increased its position in Level 3 Communications by 1,511.2% in the first quarter. Renaissance Technologies LLC now owns 503,873 shares of the company’s stock valued at $26,630,000 after buying an additional 472,600 shares during the last quarter. Carmignac Gestion increased its position in Level 3 Communications by 15.0% in the second quarter. Carmignac Gestion now owns 7,422,726 shares of the company’s stock valued at $382,196,000 after buying an additional 969,789 shares during the last quarter. Legal & General Group Plc increased its position in Level 3 Communications by 5.1% in the first quarter. Legal & General Group Plc now owns 1,372,245 shares of the company’s stock valued at $72,525,000 after buying an additional 66,951 shares during the last quarter. Finally, New York State Teachers Retirement System increased its position in Level 3 Communications by 2.9% in the second quarter. New York State Teachers Retirement System now owns 480,021 shares of the company’s stock valued at $24,716,000 after buying an additional 13,583 shares during the last quarter.

About Level 3 Communications

Level 3 Communications, Inc is a provider of a range of integrated communications services. The Company’s operating segments include North America, EMEA and Latin America. The North America includes operations in Atlanta, Georgia; Littleton, Colorado; Miami, Florida; Montreal, Canada; New York, New York; Phoenix, Arizona; Pittsburgh, Pennsylvania; Southfield, Michigan, and Tulsa, Oklahoma.

5 Day Chart for NYSE:LVLT

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