ATN International (NASDAQ:ATNI) Lifted to “Strong-Buy” at Zacks Investment Research

ATN International (NASDAQ:ATNI) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued on Wednesday, Zacks.com reports. The brokerage presently has a $68.00 price target on the technology company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 13.37% from the company’s current price.

According to Zacks, “ATN International, Inc. invests, own and operate communications companies and renewable energy assets. The company through its operating subsidiaries provide wireless and wireline connectivity to residential and business customers including mobile wireless solutions, local exchange services and broadband internet services; distributed solar electric power to corporate, utility and municipal customers and owner and operator of terrestrial and submarine fiber optic transport systems primarily in the United States and the Caribbean. ATN International Inc., formerly known as Atlantic Tele-Network, Inc., is based in Beverly, United States. “

ATNI has been the subject of a number of other research reports. Maxim Group reaffirmed a “buy” rating and set a $71.00 price objective on shares of ATN International in a research report on Wednesday, July 24th. ValuEngine raised shares of ATN International from a “hold” rating to a “buy” rating in a research report on Wednesday, September 4th. Raymond James set a $64.00 price objective on shares of ATN International and gave the company an “outperform” rating in a research report on Friday, July 26th. BWS Financial raised shares of ATN International from a “sell” rating to a “buy” rating in a research report on Monday, August 26th. Finally, BidaskClub raised shares of ATN International from a “sell” rating to a “hold” rating in a research report on Saturday, August 31st. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $67.67.



Shares of NASDAQ:ATNI traded up $1.00 during trading on Wednesday, reaching $59.98. 46,378 shares of the company’s stock traded hands, compared to its average volume of 60,427. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.92 and a quick ratio of 1.87. ATN International has a 12 month low of $50.48 and a 12 month high of $88.78. The company has a 50 day moving average of $56.83 and a 200-day moving average of $58.35. The stock has a market capitalization of $944.16 million, a P/E ratio of 46.50 and a beta of 0.39.

ATN International (NASDAQ:ATNI) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.06. ATN International had a net margin of 3.57% and a return on equity of 1.92%. The business had revenue of $107.72 million during the quarter, compared to the consensus estimate of $106.51 million. Equities research analysts predict that ATN International will post -0.2 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Marshall Wace North America L.P. bought a new position in ATN International in the 1st quarter worth about $55,000. Sun Life Financial INC grew its position in ATN International by 144.0% in the 2nd quarter. Sun Life Financial INC now owns 2,450 shares of the technology company’s stock worth $141,000 after purchasing an additional 1,446 shares during the last quarter. Municipal Employees Retirement System of Michigan grew its position in ATN International by 50.0% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 4,770 shares of the technology company’s stock worth $275,000 after purchasing an additional 1,590 shares during the last quarter. BNP Paribas Arbitrage SA boosted its holdings in shares of ATN International by 886.6% in the first quarter. BNP Paribas Arbitrage SA now owns 2,427 shares of the technology company’s stock valued at $137,000 after acquiring an additional 2,181 shares in the last quarter. Finally, Portland Global Advisors LLC bought a new position in shares of ATN International in the second quarter valued at approximately $226,000. Hedge funds and other institutional investors own 63.85% of the company’s stock.

About ATN International

ATN International, Inc, through its subsidiaries, provides wireless and wireline telecommunications services in North America, India, Bermuda, and the Caribbean. It operates through three segments: U.S. Telecom, International Telecom, and Renewable Energy. The U.S. Telecom segment offers wireless and wireline services; wholesale wireless voice and data roaming services to wireless carriers principally in the Southwest and Midwest the United States; and retail wireless, wireline, and wholesale long-distance voice services to telecommunications carriers.

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