GTT Communications Inc (NYSE:GTT) has earned an average rating of “Buy” from the eleven analysts that are currently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $51.63.

GTT has been the subject of a number of recent analyst reports. KeyCorp set a $57.00 price objective on GTT Communications and gave the company a “buy” rating in a research note on Tuesday, August 21st. Raymond James restated a “buy” rating and issued a $53.00 price objective on shares of GTT Communications in a research note on Monday, August 20th. ValuEngine upgraded GTT Communications from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 17th. Zacks Investment Research downgraded GTT Communications from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 8th. Finally, BWS Financial initiated coverage on GTT Communications in a research note on Monday, August 6th. They issued a “sell” rating and a $5.00 price objective for the company.

In other GTT Communications news, CEO Richard Calder sold 6,000 shares of the company’s stock in a transaction on Monday, July 16th. The stock was sold at an average price of $46.11, for a total value of $276,660.00. Following the completion of the transaction, the chief executive officer now owns 1,231,189 shares in the company, valued at approximately $56,770,124.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Chris Mckee sold 7,000 shares of the company’s stock in a transaction on Thursday, September 20th. The shares were sold at an average price of $45.00, for a total value of $315,000.00. Following the completion of the transaction, the general counsel now owns 399,854 shares of the company’s stock, valued at approximately $17,993,430. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 1,994,359 shares of company stock valued at $78,968,350 and sold 24,417 shares valued at $1,091,261. 23.01% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of GTT. Wells Fargo & Company MN lifted its position in shares of GTT Communications by 255.2% during the 1st quarter. Wells Fargo & Company MN now owns 292,222 shares of the technology company’s stock valued at $16,570,000 after buying an additional 209,961 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of GTT Communications during the 1st quarter valued at $123,000. Swiss National Bank lifted its position in shares of GTT Communications by 7.2% during the 1st quarter. Swiss National Bank now owns 56,700 shares of the technology company’s stock valued at $3,215,000 after buying an additional 3,800 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its position in shares of GTT Communications by 6.1% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 161,992 shares of the technology company’s stock valued at $9,185,000 after buying an additional 9,326 shares during the last quarter. Finally, BlackRock Inc. lifted its position in shares of GTT Communications by 1.5% during the 1st quarter. BlackRock Inc. now owns 1,991,233 shares of the technology company’s stock valued at $112,902,000 after buying an additional 29,274 shares during the last quarter. 75.97% of the stock is currently owned by hedge funds and other institutional investors.

Shares of GTT Communications stock opened at $45.90 on Thursday. GTT Communications has a 12-month low of $31.15 and a 12-month high of $62.32. The firm has a market cap of $2.37 billion, a P/E ratio of 191.25 and a beta of 0.91. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 6.29.

GTT Communications (NYSE:GTT) last announced its quarterly earnings results on Friday, August 3rd. The technology company reported ($0.42) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by ($0.25). GTT Communications had a negative return on equity of 45.46% and a negative net margin of 21.82%. The company had revenue of $326.80 million for the quarter, compared to the consensus estimate of $297.68 million. During the same quarter last year, the company posted $0.02 EPS. The company’s quarterly revenue was up 71.9% compared to the same quarter last year. equities analysts anticipate that GTT Communications will post -1.35 EPS for the current year.

About GTT Communications

GTT Communications, Inc provides cloud networking services to multinational enterprises, carriers, and government customers worldwide. The company provides private, public, and hybrid cloud network solutions; high bandwidth-Internet connectivity and IP transit, as well as broadband and wireless access services; managed equipment and security services; and voice and unified communications services consisting of SIP trunking and enterprise PBX services.

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Analyst Recommendations for GTT Communications (NYSE:GTT)

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