Cogeco Communications (TSE:CCA) Cut to “Hold” at TD Securities

Cogeco Communications (TSE:CCAGet Rating) was downgraded by equities research analysts at TD Securities to a “hold” rating in a research report issued on Monday, TipRanks reports. They presently have a C$120.00 target price on the stock. TD Securities’ target price would suggest a potential upside of 18.38% from the stock’s previous close.

A number of other equities analysts have also recently commented on the stock. BMO Capital Markets lifted their target price on shares of Cogeco Communications from C$125.00 to C$130.00 in a research report on Monday, April 18th. Scotiabank upped their target price on Cogeco Communications from C$137.00 to C$141.00 in a report on Tuesday, April 12th. Royal Bank of Canada lifted their price target on shares of Cogeco Communications from C$126.00 to C$127.00 in a report on Monday, April 11th. Canaccord Genuity Group decreased their price objective on shares of Cogeco Communications from C$130.00 to C$120.00 in a report on Wednesday, January 19th. Finally, CIBC lifted their target price on shares of Cogeco Communications from C$120.00 to C$126.00 and gave the company an “outperform” rating in a research note on Friday, April 22nd. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Cogeco Communications currently has an average rating of “Buy” and an average target price of C$130.67.

Shares of CCA stock traded down C$4.13 during trading hours on Monday, hitting C$101.37. 45,000 shares of the company’s stock were exchanged, compared to its average volume of 82,439. The company has a market capitalization of C$4.69 billion and a PE ratio of 12.00. The company has a current ratio of 0.86, a quick ratio of 0.61 and a debt-to-equity ratio of 162.67. Cogeco Communications has a 12-month low of C$95.50 and a 12-month high of C$123.07. The business’s 50 day simple moving average is C$105.16 and its 200-day simple moving average is C$103.23.

In related news, Director Jacques Royer sold 377 shares of the stock in a transaction dated Tuesday, April 19th. The shares were sold at an average price of C$113.30, for a total transaction of C$42,714.10. Also, Senior Officer Elizabeth Alves sold 325 shares of the firm’s stock in a transaction dated Monday, April 18th. The shares were sold at an average price of C$83.39, for a total transaction of C$27,101.75. Following the sale, the insider now owns 490 shares of the company’s stock, valued at C$40,861.10.

Cogeco Communications Company Profile (Get Rating)

Cogeco Communications Inc operates as a communications corporation in North America. It operates in two segments, Canadian Broadband Services and American Broadband Services. The company offers Internet, video, and telephony services to residential and business customers through its two-way broadband fiber networks.

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