Telecom Argentina Stet – France Telecom (NYSE:TEO) Downgraded to “Hold” Rating by Zacks Research

Zacks Research downgraded shares of Telecom Argentina Stet – France Telecom (NYSE:TEO) from a strong-buy rating to a hold rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other research analysts also recently weighed in on the stock. Morgan Stanley upgraded shares of Telecom Argentina Stet – France Telecom from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $13.00 to $17.00 in a research report on Wednesday, June 24th. Scotiabank lifted their target price on shares of Telecom Argentina Stet – France Telecom from $8.60 to $9.20 and gave the stock a “sector underperform” rating in a research report on Wednesday, May 27th. Weiss Ratings upgraded shares of Telecom Argentina Stet – France Telecom from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, June 4th. Wall Street Zen raised Telecom Argentina Stet – France Telecom from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. Finally, JPMorgan Chase & Co. raised their price target on Telecom Argentina Stet – France Telecom from $16.00 to $19.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 9th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $15.55.

Telecom Argentina Stet – France Telecom Price Performance

TEO opened at $13.00 on Monday. The company’s 50-day simple moving average is $12.86 and its two-hundred day simple moving average is $12.07. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.56 and a current ratio of 0.58. The stock has a market capitalization of $5.60 billion, a P/E ratio of 25.49 and a beta of 1.32. Telecom Argentina Stet – France Telecom has a 52-week low of $6.43 and a 52-week high of $16.34.

Insider Buying and Selling at Telecom Argentina Stet – France Telecom

In other Telecom Argentina Stet – France Telecom news, Director Alejandro Alberto Urricelqui acquired 38,890 shares of the stock in a transaction dated Tuesday, June 2nd. The shares were purchased at an average price of $13.43 per share, for a total transaction of $522,292.70. Following the purchase, the director directly owned 399,348 shares of the company’s stock, valued at approximately $5,363,243.64. This trade represents a 10.79% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 1.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Van ECK Associates Corp purchased a new position in shares of Telecom Argentina Stet – France Telecom during the 3rd quarter worth $43,000. EFG International AG purchased a new stake in shares of Telecom Argentina Stet – France Telecom in the 4th quarter worth $58,000. Qube Research & Technologies Ltd purchased a new stake in shares of Telecom Argentina Stet – France Telecom in the 3rd quarter worth $98,000. Engineers Gate Manager LP bought a new position in Telecom Argentina Stet – France Telecom in the 2nd quarter worth $110,000. Finally, Hsbc Holdings PLC bought a new position in Telecom Argentina Stet – France Telecom in the 4th quarter worth $171,000.

About Telecom Argentina Stet – France Telecom

Telecom Argentina Stet – France Telecom (NYSE:TEO) is an integrated telecommunications provider based in Buenos Aires, Argentina. Originally formed through the 1990 privatization of the state-owned Empresa Nacional de Telecomunicaciones (ENTel), the company was initially backed by Italian state carrier STET and French operator France Télécom. Since its listing on the New York Stock Exchange under the ticker TEO, Telecom Argentina has evolved into one of the country’s principal communications groups, offering a comprehensive portfolio of voice and data services.

The company’s core business activities span fixed-line telephony, mobile services, broadband internet and digital television.