Lumos Networks Corp. (NASDAQ:LMOS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The brokerage currently has a $20.00 price objective on the utilities provider’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 11.42% from the company’s current price.

According to Zacks, “Lumos Networks Corp. operates as fiber-based network service provider primarily in the Mid-Atlantic region. It operates in two segments: Competitive and Rural Local Exchange Carrier. The Competitive segment offers transport services, data and voice services and Internet access, and carrier transport services. The Rural Local Exchange Carrier segment provides wireline communications services. The Company serves a wide range of customers, including telecommunication carriers, enterprise and other business customers and residential customers over a dense fiber network offering data, voice, and IP-based services. Lumos Networks Corp. is headquartered in Waynesboro, Virginia. “

Separately, BidaskClub cut shares of Lumos Networks Corp. from a “hold” rating to a “sell” rating in a research note on Thursday, July 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $19.25.

Lumos Networks Corp. (NASDAQ LMOS) opened at 17.95 on Tuesday. The stock’s market cap is $429.79 million. Lumos Networks Corp. has a 12 month low of $13.25 and a 12 month high of $17.99. The company’s 50-day moving average price is $17.90 and its 200-day moving average price is $17.83.

Lumos Networks Corp. (NASDAQ:LMOS) last posted its earnings results on Monday, August 7th. The utilities provider reported $0.02 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.01. The business had revenue of $56.37 million for the quarter, compared to analysts’ expectations of $55.33 million. Lumos Networks Corp. had a negative net margin of 1.70% and a negative return on equity of 2.79%. Equities analysts forecast that Lumos Networks Corp. will post ($0.19) earnings per share for the current year.

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In other news, insider Thomas E. Ferry sold 8,252 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $17.94, for a total transaction of $148,040.88. Following the transaction, the insider now directly owns 50,383 shares in the company, valued at $903,871.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 8.70% of the stock is currently owned by corporate insiders.

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Lumos Networks Corp. by 7.9% during the first quarter. Vanguard Group Inc. now owns 2,909,952 shares of the utilities provider’s stock worth $51,506,000 after purchasing an additional 212,774 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Lumos Networks Corp. by 2.8% during the first quarter. Dimensional Fund Advisors LP now owns 1,215,549 shares of the utilities provider’s stock worth $21,515,000 after purchasing an additional 33,312 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Lumos Networks Corp. by 47.0% during the first quarter. Renaissance Technologies LLC now owns 850,500 shares of the utilities provider’s stock worth $15,054,000 after purchasing an additional 272,000 shares in the last quarter. Kennedy Capital Management Inc. acquired a new position in shares of Lumos Networks Corp. during the first quarter worth approximately $12,271,000. Finally, Glazer Capital LLC lifted its position in shares of Lumos Networks Corp. by 259.0% during the second quarter. Glazer Capital LLC now owns 544,592 shares of the utilities provider’s stock worth $9,732,000 after purchasing an additional 392,891 shares in the last quarter. Institutional investors own 79.71% of the company’s stock.

Lumos Networks Corp. Company Profile

Lumos Networks Corp. is a fiber-based bandwidth infrastructure and service provider in the Mid-Atlantic region with a network of long-haul fiber, metro Ethernet and Ethernet rings located primarily in Virginia and West Virginia, and portions of Maryland, Pennsylvania, Ohio and Kentucky. The Company serves carrier, business and residential customers over its fiber network offering data, voice and Internet protocol (IP) services.

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