Macquarie Lowers Cogeco Communications Inc (CCA) to Neutral
Macquarie downgraded shares of Cogeco Communications Inc (TSE:CCA) from an outperform rating to a neutral rating in a research report released on Wednesday, StockTargetPrices.com reports. Macquarie currently has C$90.00 target price on the stock.
CCA has been the topic of a number of other reports. Royal Bank Of Canada upped their target price on shares of Cogeco Communications from C$76.00 to C$81.00 and gave the company a sector perform rating in a report on Tuesday, July 11th. BMO Capital Markets upped their price objective on shares of Cogeco Communications from C$82.00 to C$84.00 and gave the company a market perform rating in a research note on Monday, July 17th. TD Securities downgraded shares of Cogeco Communications from a hold rating to a reduce rating and set a C$80.00 price objective for the company. in a research note on Wednesday, July 12th. Desjardins downgraded shares of Cogeco Communications from a buy rating to a hold rating and upped their price objective for the company from C$79.00 to C$87.50 in a research note on Tuesday, July 11th. Finally, Barclays PLC upped their price objective on shares of Cogeco Communications from C$75.00 to C$80.00 in a research note on Monday, July 17th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. Cogeco Communications presently has a consensus rating of Hold and an average price target of C$83.44.
Shares of Cogeco Communications (CCA) opened at 88.32 on Wednesday. The firm has a market capitalization of $4.35 billion and a PE ratio of 14.44. The company’s 50-day moving average is $90.56 and its 200 day moving average is $80.89. Cogeco Communications has a 52-week low of $60.62 and a 52-week high of $94.43.
In other news, insider Elizabeth Alves sold 996 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of C$87.05, for a total transaction of C$86,701.80. Also, insider René Guimond sold 900 shares of the company’s stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of C$87.44, for a total transaction of C$78,696.00. In the last ninety days, insiders have sold 2,146 shares of company stock valued at $187,657.
About Cogeco Communications
Cogeco Communications Inc, formerly Cogeco Cable Inc, is a Canada-based communications company. The Company provides residential and business customers with video, Internet and telephony services through its two-way broadband fiber networks. The Company operates through three segments: Canadian broadband services, American broadband services and Business information and communications technology (Business ICT) services.
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