Wells Fargo & Company Lowers Charter Communications (NASDAQ:CHTR) Price Target to $101.00

Charter Communications (NASDAQ:CHTR) had its price target cut by equities researchers at Wells Fargo & Company from $160.00 to $101.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has an “underweight” rating on the stock. Wells Fargo & Company‘s price target points to a potential downside of 18.36% from the company’s current price.

Several other research analysts have also recently weighed in on CHTR. Weiss Ratings restated a “sell (d+)” rating on shares of Charter Communications in a research report on Wednesday, June 24th. Citigroup lowered their target price on Charter Communications from $230.00 to $190.00 and set a “buy” rating for the company in a research note on Monday, June 29th. Royal Bank Of Canada dropped their target price on Charter Communications from $220.00 to $160.00 and set a “sector perform” rating for the company in a research report on Monday, July 20th. Zacks Research lowered Charter Communications from a “hold” rating to a “strong sell” rating in a research note on Monday, July 6th. Finally, The Goldman Sachs Group lowered their price objective on Charter Communications from $185.00 to $125.00 and set a “sell” rating for the company in a research report on Thursday, July 2nd. Five equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and six have given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $240.75.

Charter Communications Stock Up 0.3%

Shares of NASDAQ CHTR opened at $123.71 on Monday. Charter Communications has a 12-month low of $111.55 and a 12-month high of $309.40. The firm’s 50-day simple moving average is $136.02 and its 200 day simple moving average is $183.82. The company has a quick ratio of 0.40, a current ratio of 0.36 and a debt-to-equity ratio of 4.32. The company has a market cap of $15.22 billion, a price-to-earnings ratio of 3.21, a price-to-earnings-growth ratio of 0.23 and a beta of 0.71.

Charter Communications (NASDAQ:CHTR) last announced its earnings results on Friday, July 24th. The company reported $10.66 earnings per share for the quarter, topping analysts’ consensus estimates of $9.98 by $0.68. Charter Communications had a net margin of 9.05% and a return on equity of 23.71%. The company had revenue of $13.53 billion during the quarter, compared to the consensus estimate of $13.51 billion. During the same period in the previous year, the firm posted $9.18 earnings per share. The company’s revenue was down 1.7% on a year-over-year basis. On average, research analysts expect that Charter Communications will post 41.29 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Thomas Rutledge sold 69,633 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $144.45, for a total value of $10,058,486.85. Following the completion of the sale, the director owned 3,968 shares in the company, valued at $573,177.60. This represents a 94.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Balan Nair acquired 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 28th. The shares were acquired at an average cost of $175.46 per share, for a total transaction of $175,460.00. Following the purchase, the director directly owned 12,029 shares in the company, valued at $2,110,608.34. This trade represents a 9.07% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired 20,125 shares of company stock worth $3,167,116 over the last ninety days. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Charter Communications

A number of hedge funds and other institutional investors have recently made changes to their positions in CHTR. Advisory Services Network LLC increased its holdings in Charter Communications by 3.8% during the 2nd quarter. Advisory Services Network LLC now owns 1,028 shares of the company’s stock worth $420,000 after purchasing an additional 38 shares in the last quarter. Orion Porfolio Solutions LLC grew its holdings in shares of Charter Communications by 1.7% during the second quarter. Orion Porfolio Solutions LLC now owns 2,417 shares of the company’s stock worth $988,000 after buying an additional 41 shares in the last quarter. Occudo Quantitative Strategies LP raised its position in Charter Communications by 1.4% in the 2nd quarter. Occudo Quantitative Strategies LP now owns 3,069 shares of the company’s stock valued at $1,255,000 after buying an additional 41 shares during the last quarter. Pure Financial Advisors LLC lifted its stake in Charter Communications by 4.1% in the 4th quarter. Pure Financial Advisors LLC now owns 1,116 shares of the company’s stock valued at $233,000 after acquiring an additional 44 shares in the last quarter. Finally, Integrated Wealth Concepts LLC grew its stake in shares of Charter Communications by 3.6% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 1,426 shares of the company’s stock worth $392,000 after acquiring an additional 49 shares in the last quarter. 81.76% of the stock is currently owned by institutional investors and hedge funds.

About Charter Communications

Charter Communications, Inc is a U.S.-based telecommunications and mass media company that provides broadband communications and video services to residential and business customers. Operating primarily under the Spectrum brand, the company offers high-speed internet, cable television, digital voice (phone) and wireless services, as well as managed and enterprise networking solutions for commercial customers. Charter’s service portfolio targets both consumer and business markets with bundled and standalone offerings designed to meet streaming, connectivity and communications needs.

The company’s consumer-facing products include Spectrum Internet, Spectrum TV and Spectrum Voice, while Spectrum Mobile provides wireless service through arrangements with national wireless carriers.