GTT Communications Inc (NYSE:GTT) has been given an average recommendation of “Buy” by the seven brokerages that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $43.40.
A number of research analysts recently weighed in on GTT shares. Zacks Investment Research raised shares of GTT Communications from a “sell” rating to a “hold” rating in a research report on Wednesday, January 3rd. Craig Hallum reaffirmed a “buy” rating and issued a $50.00 target price (up previously from $40.00) on shares of GTT Communications in a research report on Monday. Finally, Oppenheimer raised their target price on shares of GTT Communications from $39.00 to $52.00 and gave the company an “outperform” rating in a research report on Wednesday, December 20th.
GTT Communications (GTT) traded up $0.70 during trading on Friday, reaching $43.10. 430,535 shares of the company were exchanged, compared to its average volume of 276,436. The company has a market capitalization of $1,870.00, a P/E ratio of -76.96, a P/E/G ratio of 16.71 and a beta of 1.32. GTT Communications has a 1-year low of $22.95 and a 1-year high of $47.75. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 4.08.
GTT Communications (NYSE:GTT) last released its earnings results on Thursday, November 2nd. The technology company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.07. GTT Communications had a negative net margin of 3.78% and a positive return on equity of 1.89%. analysts predict that GTT Communications will post -0.77 earnings per share for the current fiscal year.
In other news, insider Richard Calder sold 10,000 shares of GTT Communications stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $39.53, for a total value of $395,300.00. Following the completion of the transaction, the insider now owns 1,262,855 shares of the company’s stock, valued at approximately $49,920,658.15. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director S Joseph Bruno sold 1,000 shares of GTT Communications stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $40.50, for a total transaction of $40,500.00. Following the completion of the transaction, the director now directly owns 108,467 shares of the company’s stock, valued at approximately $4,392,913.50. The disclosure for this sale can be found here. In the last three months, insiders sold 50,000 shares of company stock valued at $1,341,960. Insiders own 25.70% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in GTT. Spruce House Investment Management LLC bought a new position in shares of GTT Communications in the 3rd quarter valued at about $59,723,000. Bamco Inc. NY bought a new position in shares of GTT Communications in the 2nd quarter valued at about $42,727,000. Cove Street Capital LLC acquired a new stake in shares of GTT Communications during the 2nd quarter worth about $8,507,000. Castleark Management LLC lifted its stake in shares of GTT Communications by 40.1% during the 2nd quarter. Castleark Management LLC now owns 472,769 shares of the technology company’s stock worth $14,963,000 after buying an additional 135,407 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of GTT Communications by 11.4% during the 2nd quarter. Vanguard Group Inc. now owns 1,228,307 shares of the technology company’s stock worth $38,876,000 after buying an additional 126,032 shares during the last quarter. 65.24% of the stock is owned by institutional investors.
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GTT Communications Company Profile
GTT Communications, Inc provides cloud networking services to a range of clients. The Company offers a portfolio of global communications services, wide area network (WAN) services; Internet services; managed network and security services, and voice and unified communication services. It provides Layer 2 (Ethernet) and Layer 3 (multiprotocol label switching (MPLS)) WAN solutions for multinational clients.
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