GTT Communications Inc (NYSE:GTT) has earned a consensus rating of “Buy” from the six research firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $46.00.
Several research analysts have weighed in on GTT shares. Zacks Investment Research lowered GTT Communications from a “hold” rating to a “sell” rating in a report on Wednesday, December 27th. Oppenheimer boosted their price target on GTT Communications from $39.00 to $52.00 and gave the company an “outperform” rating in a report on Wednesday, December 20th. Finally, Craig Hallum restated a “buy” rating and issued a $50.00 price target (up from $40.00) on shares of GTT Communications in a report on Monday, January 22nd.
GTT Communications (NYSE:GTT) traded down $0.25 during mid-day trading on Tuesday, reaching $46.40. The company’s stock had a trading volume of 77,954 shares, compared to its average volume of 257,291. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 4.08. The company has a market capitalization of $1,975.04, a price-to-earnings ratio of 505.00, a PEG ratio of 17.91 and a beta of 1.23. GTT Communications has a 52-week low of $22.95 and a 52-week high of $47.75.
In other news, Director S Joseph Bruno sold 1,000 shares of the business’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $40.50, for a total value of $40,500.00. Following the sale, the director now directly owns 108,467 shares in the company, valued at $4,392,913.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Chris Mckee sold 7,000 shares of the business’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $39.54, for a total value of $276,780.00. Following the completion of the sale, the general counsel now owns 487,928 shares in the company, valued at $19,292,673.12. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,000 shares of company stock worth $712,580. Corporate insiders own 25.70% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Wealthsource Partners LLC acquired a new stake in shares of GTT Communications in the fourth quarter valued at about $203,000. California Public Employees Retirement System acquired a new stake in shares of GTT Communications in the fourth quarter valued at about $214,000. Brown Advisory Inc. acquired a new stake in shares of GTT Communications in the fourth quarter valued at about $235,000. JPMorgan Chase & Co. increased its position in shares of GTT Communications by 52.2% in the third quarter. JPMorgan Chase & Co. now owns 7,950 shares of the technology company’s stock valued at $250,000 after acquiring an additional 2,726 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of GTT Communications in the second quarter valued at about $270,000. 64.15% of the stock is currently owned by institutional investors and hedge funds.
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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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