Pivotal Research reaffirmed their buy rating on shares of Liberty Global plc – Class A (NASDAQ:LBTYA) in a research note published on Tuesday morning. They currently have a $44.00 price target on the stock.

“We are tweaking our estimates for updated currencies and to better model the U.K. tax hit that will run through EBITDA (30M pounds in ’17 growing to 120M pounds by ’20). We left our 4Q forecasts unchanged (+239K RGU’s, +3% rebased revenue growth and +6% rebased EBITDA growth). Our ’18 EBITDA forecast is now directly in-line with consensus at $7.5B (~2% lower than our previous forecast). The model changes drove no change to our $44 YE’18 target price, which recall is based on a DCF (8X ’21 terminal EBITDA, 9% discount rate) and a 9X ’18 EV/’18 EBITDA multiple (including the NPV of LGI’s NOL vs. 7.9X currently. Recall, in 4Q, LGI should demonstrate acceleration in ARPU specifically in the U.K. which should help alleviate concerns with their ability to raise ARPU in that market (which recall spooked investors in 1H’17). Management is also materially re-accelerating the growth U.K. Project Lightning households.”,” the firm’s analyst wrote.

LBTYA has been the topic of a number of other research reports. Jefferies Group set a $42.00 target price on shares of Liberty Global plc – Class A and gave the company a buy rating in a research note on Monday, October 30th. Deutsche Bank assumed coverage on shares of Liberty Global plc – Class A in a research note on Wednesday, September 6th. They issued a buy rating and a $43.00 target price on the stock. Buckingham Research assumed coverage on shares of Liberty Global plc – Class A in a research note on Friday, September 29th. They issued a buy rating and a $44.00 target price on the stock. Citigroup lowered their target price on shares of Liberty Global plc – Class A from $40.00 to $37.00 and set a buy rating on the stock in a research note on Friday, November 24th. Finally, Zacks Investment Research raised shares of Liberty Global plc – Class A from a hold rating to a buy rating and set a $35.00 target price on the stock in a research note on Tuesday, October 31st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $39.41.

Liberty Global plc – Class A (NASDAQ LBTYA) traded down $0.38 during trading hours on Tuesday, hitting $32.53. 813,800 shares of the stock traded hands, compared to its average volume of 2,348,206. Liberty Global plc – Class A has a one year low of $28.17 and a one year high of $37.69. The company has a debt-to-equity ratio of 3.64, a quick ratio of 0.47 and a current ratio of 0.47. The company has a market cap of $27,002.82, a P/E ratio of 40.13 and a beta of 1.61.

Liberty Global plc – Class A declared that its Board of Directors has initiated a share buyback program on Monday, December 18th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its shares are undervalued.

In related news, CFO Charles H. R. Bracken sold 14,525 shares of the stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $21.11, for a total value of $306,622.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director John C. Malone sold 90,000 shares of the stock in a transaction that occurred on Monday, October 23rd. The shares were sold at an average price of $30.44, for a total transaction of $2,739,600.00. Following the completion of the transaction, the director now owns 4,975,876 shares in the company, valued at $151,465,665.44. The disclosure for this sale can be found here. Insiders have sold 194,525 shares of company stock worth $6,017,123 over the last quarter. 5.81% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of LBTYA. Russell Investments Group Ltd. increased its stake in Liberty Global plc – Class A by 39.8% in the second quarter. Russell Investments Group Ltd. now owns 158,186 shares of the company’s stock valued at $5,081,000 after purchasing an additional 45,012 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in Liberty Global plc – Class A by 6.2% in the second quarter. Janney Montgomery Scott LLC now owns 8,363 shares of the company’s stock valued at $269,000 after purchasing an additional 488 shares in the last quarter. Schwab Charles Investment Management Inc. increased its position in shares of Liberty Global plc – Class A by 6.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 497,815 shares of the company’s stock worth $15,990,000 after acquiring an additional 30,465 shares in the last quarter. First Trust Advisors LP increased its position in shares of Liberty Global plc – Class A by 35.8% during the second quarter. First Trust Advisors LP now owns 85,635 shares of the company’s stock worth $2,751,000 after acquiring an additional 22,573 shares in the last quarter. Finally, Legal & General Group Plc increased its position in shares of Liberty Global plc – Class A by 1.4% during the second quarter. Legal & General Group Plc now owns 1,097,107 shares of the company’s stock worth $35,238,000 after acquiring an additional 15,011 shares in the last quarter. 22.00% of the stock is owned by hedge funds and other institutional investors.

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About Liberty Global plc – Class A

Liberty Global PLC, formerly Liberty Global, Inc, is an international cable company with operations in 14 countries. The Company’s tripleplay services are provided through networks and technology platforms that connect approximately 25 million customers subscribing to over 47 million television, broadband Internet and telephony services.

Analyst Recommendations for Liberty Global plc - Class A (NASDAQ:LBTYA)

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