Cogeco Communications (TSE:CCA) had its target price hoisted by CIBC from C$103.00 to C$109.00 in a research note released on Thursday morning, BayStreet.CA reports.
A number of other brokerages have also recently weighed in on CCA. Royal Bank of Canada reissued a hold rating and set a $0.35 price objective on shares of DB Commodity Double Short ETN in a report on Friday, July 12th. National Bank Financial raised their price objective on Wesdome Gold Mines from C$6.00 to C$6.25 and gave the company an outperform rating in a report on Friday, July 12th. BMO Capital Markets raised their price objective on Cogeco Communications from C$95.00 to C$100.00 in a report on Friday, July 12th. Desjardins raised their price objective on Cogeco Communications from C$96.00 to C$99.00 in a report on Friday, July 12th. Finally, Echelon Wealth Partners raised their price objective on Cogeco Communications from C$98.00 to C$106.00 and gave the company a buy rating in a report on Tuesday, July 16th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of C$100.00.
TSE:CCA opened at C$104.83 on Thursday. The firm has a 50-day simple moving average of C$95.60. Cogeco Communications has a twelve month low of C$61.68 and a twelve month high of C$107.22. The stock has a market cap of $5.26 billion and a PE ratio of 13.24. The company has a current ratio of 1.80, a quick ratio of 1.71 and a debt-to-equity ratio of 136.92.
In related news, Senior Officer Pierre Maheux sold 274 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of C$105.35, for a total transaction of C$28,865.90. Following the transaction, the insider now directly owns 1,934 shares in the company, valued at approximately C$203,746.90. Also, Director Louis Audet sold 15,028 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of C$104.60, for a total value of C$1,571,928.80. Following the transaction, the director now owns 90,980 shares in the company, valued at C$9,516,508.
Cogeco Communications Company Profile
Cogeco Communications Inc operates as a communications corporation in North America. The company operates in three segments: Canadian Broadband Services; American Broadband Services; and Business Information and Communications Technology Services. It offers digital video and programming services, such as basic services, digital tier packages, discretionary services, pay-per-view channels, video-on-demand services, high definition and 4K television services, and advanced video services; Internet services; and telephony services to residential customers comprising direct international calling, international long distance plans, voicemail, and other custom calling features.
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