GTT Communications (GTT) Given New $52.00 Price Target at Oppenheimer
GTT Communications (NYSE:GTT) had its target price boosted by Oppenheimer from $39.00 to $52.00 in a report published on Wednesday. The firm currently has an outperform rating on the technology company’s stock.
Separately, Zacks Investment Research upgraded shares of GTT Communications from a sell rating to a hold rating in a research report on Friday, November 10th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $40.20.
GTT Communications (GTT) traded down $0.50 during mid-day trading on Wednesday, reaching $44.80. 269,000 shares of the company traded hands, compared to its average volume of 272,033. GTT Communications has a 1 year low of $22.95 and a 1 year high of $47.75. The stock has a market cap of $1,950.00, a P/E ratio of 503.33 and a beta of 1.32. The company has a debt-to-equity ratio of 4.08, a quick ratio of 0.91 and a current ratio of 0.91.
A number of institutional investors have recently made changes to their positions in the business. Bamco Inc. NY raised its position in GTT Communications by 68.8% during the 3rd quarter. Bamco Inc. NY now owns 2,278,200 shares of the technology company’s stock worth $72,105,000 after buying an additional 928,200 shares during the last quarter. Boothbay Fund Management LLC purchased a new position in GTT Communications during the 3rd quarter worth $2,046,000. Oppenheimer Asset Management Inc. raised its position in GTT Communications by 144.2% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 23,107 shares of the technology company’s stock worth $731,000 after buying an additional 13,644 shares during the last quarter. Lyon Street Capital LLC raised its position in GTT Communications by 9.2% during the 3rd quarter. Lyon Street Capital LLC now owns 308,255 shares of the technology company’s stock worth $9,756,000 after buying an additional 25,944 shares during the last quarter. Finally, Spruce House Investment Management LLC acquired a new position in shares of GTT Communications during the 3rd quarter worth $59,723,000. Institutional investors own 65.41% of the company’s stock.
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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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