GTT Communications Inc. (NYSE:GTT) has been assigned a consensus recommendation of “Buy” from the eight research firms that are presently covering the stock. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $34.33.

GTT has been the subject of a number of research reports. Jefferies Group reissued a “buy” rating on shares of GTT Communications in a research note on Saturday, August 6th. Pacific Crest set a $37.00 price target on shares of GTT Communications and gave the stock a “buy” rating in a research note on Friday, September 23rd. Finally, Drexel Hamilton set a $28.00 price target on shares of GTT Communications and gave the stock a “buy” rating in a research note on Wednesday, September 28th.

In related news, insider Richard Calder sold 10,000 shares of the firm’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $23.24, for a total transaction of $232,400.00. Following the completion of the transaction, the insider now directly owns 1,299,964 shares of the company’s stock, valued at $30,211,163.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Chris Mckee sold 7,000 shares of the firm’s stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of $21.65, for a total transaction of $151,550.00. Following the transaction, the general counsel now directly owns 442,178 shares of the company’s stock, valued at $9,573,153.70. The disclosure for this sale can be found here. Corporate insiders own 29.86% of the company’s stock.

A number of institutional investors have recently bought and sold shares of GTT. Dimensional Fund Advisors LP boosted its position in GTT Communications by 160.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,562,617 shares of the company’s stock valued at $28,877,000 after buying an additional 963,243 shares during the last quarter. Weatherbie Capital LLC boosted its position in shares of GTT Communications by 55.6% in the second quarter. Weatherbie Capital LLC now owns 1,055,195 shares of the company’s stock worth $19,500,000 after buying an additional 377,067 shares during the last quarter. Penn Capital Management Co. Inc. acquired a new position in shares of GTT Communications during the second quarter worth approximately $5,897,000. Royal Bank of Canada boosted its position in shares of GTT Communications by 81.6% in the second quarter. Royal Bank of Canada now owns 529,843 shares of the company’s stock worth $9,791,000 after buying an additional 238,097 shares during the last quarter. Finally, Emerald Acquisition Ltd. acquired a new position in shares of GTT Communications during the second quarter worth approximately $4,294,000. 61.74% of the stock is owned by institutional investors.

GTT Communications (NYSE:GTT) opened at 23.25 on Friday. GTT Communications has a 52-week low of $12.31 and a 52-week high of $24.85. The company has a market cap of $864.85 million, a PE ratio of 26.24 and a beta of 1.68. The firm’s 50 day moving average is $22.92 and its 200 day moving average is $20.17.

GTT Communications Company Profile

GTT Communications, Inc is a provider of cloud networking services. The Company offers a portfolio of global communications services, including EtherCloud wide area network services; Internet services; managed network and security services, and voice and unified communication services. The Company provides Layer 2 (Ethernet) and Layer 3 (multiprotocol label switching (MPLS)) solutions to meet the needs of multinational clients.

5 Day Chart for NYSE:GTT

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