Cogeco Communications Inc (CCA) Reaches New 1-Year High at $95.21
Cogeco Communications Inc (TSE:CCA) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$95.21 and last traded at C$94.18, with a volume of 70,901 shares changing hands. The stock had previously closed at C$92.83.
A number of research analysts recently issued reports on CCA shares. BMO Capital Markets reaffirmed a “market perform” rating and issued a C$82.00 price target on shares of Cogeco Communications in a report on Tuesday, July 11th. Scotiabank lifted their price target on Cogeco Communications from C$83.00 to C$95.00 and gave the company an “outperform” rating in a report on Tuesday, July 11th. TD Securities lifted their price target on Cogeco Communications from C$80.00 to C$83.00 and gave the company a “reduce” rating in a report on Tuesday, July 18th. Barclays PLC lifted their price target on Cogeco Communications from C$75.00 to C$80.00 in a report on Monday, July 17th. Finally, Macquarie cut Cogeco Communications from an “outperform” rating to a “neutral” rating and set a C$90.00 price objective for the company. in a report on Wednesday, September 20th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. Cogeco Communications presently has a consensus rating of “Hold” and an average target price of C$83.44.
The stock has a market capitalization of $4.63 billion and a PE ratio of 15.37. The firm has a 50 day moving average of $91.00 and a 200 day moving average of $82.44.
In other news, insider Elizabeth Alves sold 996 shares of Cogeco Communications stock in a transaction dated Wednesday, August 2nd. The stock was 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 Cogeco Communications stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of C$87.44, for a total value of C$78,696.00. Insiders have sold 2,146 shares of company stock worth $187,657 over the last three months.
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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