Cogeco Communications (TSE:CCA) Stock Rating Upgraded by TD Securities

Cogeco Communications (TSE:CCAGet Rating) was upgraded by equities research analysts at TD Securities to a “buy” rating in a research note issued to investors on Friday, TipRanks reports. The firm currently has a C$120.00 price target on the stock. TD Securities’ price target suggests a potential upside of 32.39% from the company’s current price.

A number of other equities research analysts also recently weighed in on the company. Scotiabank lifted their target price on Cogeco Communications from C$137.00 to C$141.00 in a research report on Tuesday, April 12th. Royal Bank of Canada lifted their target price on shares of Cogeco Communications from C$126.00 to C$127.00 in a report on Monday, April 11th. CIBC boosted their price target on shares of Cogeco Communications from C$120.00 to C$126.00 and gave the company an “outperform” rating in a report on Friday, April 22nd. Finally, BMO Capital Markets boosted their price target on shares of Cogeco Communications from C$125.00 to C$130.00 in a research report on Monday, April 18th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Cogeco Communications presently has an average rating of “Buy” and a consensus target price of C$130.67.

CCA stock traded up C$0.41 on Friday, reaching C$90.64. The company’s stock had a trading volume of 35,649 shares, compared to its average volume of 87,103. Cogeco Communications has a 52 week low of C$89.76 and a 52 week high of C$123.07. The company has a market capitalization of C$4.20 billion and a P/E ratio of 10.42. The firm has a fifty day moving average of C$103.30 and a two-hundred day moving average of C$102.05. The company has a debt-to-equity ratio of 155.46, a current ratio of 0.84 and a quick ratio of 0.51.

Cogeco Communications (TSE:CCAGet Rating) last released its quarterly earnings data on Wednesday, April 13th. The company reported C$2.38 earnings per share for the quarter, topping the consensus estimate of C$2.20 by C$0.18. The company had revenue of C$728.55 million for the quarter, compared to the consensus estimate of C$731.90 million. As a group, equities analysts expect that Cogeco Communications will post 9.5789884 EPS for the current fiscal year.

In related news, Director Louis Audet sold 33,900 shares of the stock in a transaction that occurred on Tuesday, May 31st. The shares were sold at an average price of C$104.81, for a total value of C$3,553,059.00. Following the completion of the transaction, the director now owns 106,868 shares of the company’s stock, valued at approximately C$11,200,835.08. Also, Senior Officer Christian Jolivet sold 950 shares of the stock in a transaction that occurred on Wednesday, May 25th. The shares were sold at an average price of C$103.50, for a total transaction of C$98,325.00. Following the completion of the transaction, the insider now directly owns 15,994 shares of the company’s stock, valued at approximately C$1,655,379. Insiders have sold a total of 35,552 shares of company stock worth $3,721,200 in the last quarter.

About Cogeco Communications (Get Rating)

Cogeco Communications Inc operates as a communications corporation in North America. It operates in two segments, Canadian Broadband Services and American Broadband Services. The company offers Internet, video, and telephony services to residential and business customers through its two-way broadband fiber networks.

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