Shares of Alaska Communications Systems Group, Inc. (NASDAQ:ALSK) have received an average broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy rating.

Brokerages have set a one year consensus price objective of $2.90 for the company, according to Zacks. Zacks has also assigned Alaska Communications Systems Group an industry rank of 118 out of 265 based on the ratings given to related companies.

Separately, TheStreet lowered shares of Alaska Communications Systems Group from a “c” rating to a “d+” rating in a research report on Monday, May 22nd.

A number of large investors have recently modified their holdings of ALSK. Brandes Investment Partners LP boosted its position in Alaska Communications Systems Group by 55.8% during the first quarter. Brandes Investment Partners LP now owns 67,331 shares of the utilities provider’s stock worth $125,000 after purchasing an additional 24,114 shares during the period. Bank of New York Mellon Corp boosted its position in Alaska Communications Systems Group by 7.2% during the first quarter. Bank of New York Mellon Corp now owns 70,473 shares of the utilities provider’s stock worth $130,000 after purchasing an additional 4,747 shares during the period. Goldman Sachs Group Inc. boosted its position in Alaska Communications Systems Group by 51.7% during the first quarter. Goldman Sachs Group Inc. now owns 102,276 shares of the utilities provider’s stock worth $189,000 after purchasing an additional 34,865 shares during the period. Northern Trust Corp boosted its position in Alaska Communications Systems Group by 2.3% during the second quarter. Northern Trust Corp now owns 131,636 shares of the utilities provider’s stock worth $289,000 after purchasing an additional 2,952 shares during the period. Finally, Municipal Employees Retirement System of Michigan bought a new position in Alaska Communications Systems Group during the second quarter worth about $392,000. Hedge funds and other institutional investors own 41.53% of the company’s stock.

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Alaska Communications Systems Group (ALSK) traded up 2.30% during mid-day trading on Wednesday, reaching $2.22. 110,411 shares of the company’s stock were exchanged. The stock’s market cap is $116.40 million. Alaska Communications Systems Group has a 52-week low of $1.49 and a 52-week high of $2.61. The company has a 50-day moving average of $2.23 and a 200-day moving average of $2.12.

Alaska Communications Systems Group (NASDAQ:ALSK) last issued its earnings results on Thursday, August 3rd. The utilities provider reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by $0.07. The business had revenue of $58.50 million for the quarter, compared to the consensus estimate of $58.72 million. Alaska Communications Systems Group had a negative return on equity of 0.01% and a negative net margin of 0.65%. Alaska Communications Systems Group’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.01 EPS.

About Alaska Communications Systems Group

Alaska Communications Systems Group, Inc is a fiber broadband and managed information technology (IT) services provider. The Company is focused primarily on business and wholesale customers in and out of Alaska. The Company also provides telecommunication services to consumers across Alaska. The Company’s facilities-based communications network extends across Alaska and connects to the contiguous states through its undersea fiber optic cable systems and its usage rights on an undersea system.

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