Altice USA Inc (ATUS) Receives Average Rating of “Buy” from Brokerages

Altice USA Inc (NASDAQ:ATUS) has received an average rating of “Buy” from the twelve research firms that are covering the stock, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $36.42.

ATUS has been the subject of a number of recent analyst reports. Morgan Stanley initiated coverage on shares of Altice USA in a report on Monday, July 17th. They set an “equal weight” rating and a $31.00 price target for the company. Deutsche Bank AG initiated coverage on shares of Altice USA in a report on Monday, July 17th. They set a “buy” rating and a $36.00 price target for the company. Guggenheim initiated coverage on shares of Altice USA in a report on Wednesday, July 12th. They set a “buy” rating and a $38.00 price target for the company. Citigroup Inc. initiated coverage on shares of Altice USA in a report on Monday, July 17th. They set a “buy” rating and a $44.00 price target for the company. Finally, Pivotal Research initiated coverage on shares of Altice USA in a report on Thursday, June 22nd. They set a “buy” rating and a $38.00 price target for the company.

In other Altice USA news, major shareholder Bc European Capital Ix Ltd sold 36,197,360 shares of the company’s stock in a transaction on Tuesday, June 27th. The shares were sold at an average price of $29.01, for a total value of $1,050,085,413.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark Mullen acquired 5,000 shares of the firm’s stock in a transaction on Tuesday, June 27th. The stock was bought at an average price of $30.00 per share, with a total value of $150,000.00. Following the completion of the acquisition, the director now directly owns 5,000 shares in the company, valued at approximately $150,000. The disclosure for this purchase can be found here. Insiders acquired a total of 74,000 shares of company stock valued at $2,220,000 over the last 90 days.

A number of hedge funds and other institutional investors have recently modified their holdings of ATUS. Atlantic Trust Group LLC acquired a new position in shares of Altice USA during the second quarter valued at about $323,000. Neuberger Berman Group LLC acquired a new position in shares of Altice USA during the second quarter valued at about $366,000. BT Investment Management Ltd acquired a new position in shares of Altice USA during the second quarter valued at about $593,000. TD Asset Management Inc. acquired a new position in shares of Altice USA during the second quarter valued at about $656,000. Finally, SG Americas Securities LLC acquired a new position in shares of Altice USA during the second quarter valued at about $666,000.

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Altice USA (NASDAQ ATUS) opened at 31.04 on Friday. Altice USA has a 52 week low of $30.30 and a 52 week high of $35.29. The company’s 50-day moving average is $32.16 and its 200-day moving average is $32.16. The company’s market cap is $22.88 billion.

Altice USA Company Profile

Altice USA, Inc is engaged in providing broadband communications and video services in the United States. The Company’s segments include Cablevision and Cequel. Cablevision provides broadband, pay television and telephony services to residential and business customers in and around the New York metropolitan area.

Analyst Recommendations for Altice USA (NASDAQ:ATUS)

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