GTT Communications (NYSE:GTT)‘s stock had its “buy” rating restated by investment analysts at Craig Hallum in a research report issued on Monday. They presently have a $60.00 price objective on the technology company’s stock, up from their previous price objective of $50.00. Craig Hallum’s price objective would indicate a potential upside of 13.64% from the stock’s current price.
A number of other equities analysts have also weighed in on the company. Zacks Investment Research lowered GTT Communications from a “hold” rating to a “sell” rating in a research note on Wednesday, December 27th. Oppenheimer upped their price objective on GTT Communications from $39.00 to $52.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 20th. One equities research analyst has rated the stock with a sell rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $51.20.
GTT Communications (NYSE GTT) opened at $52.80 on Monday. The firm has a market capitalization of $2,290.00, a PE ratio of -94.29, a PEG ratio of 18.92 and a beta of 1.06. The company has a debt-to-equity ratio of 4.08, a current ratio of 0.91 and a quick ratio of 0.91. GTT Communications has a one year low of $22.95 and a one year high of $55.35.
Several large investors have recently bought and sold shares of GTT. Spruce House Investment Management LLC purchased a new stake in shares of GTT Communications in the third quarter worth about $59,723,000. Bamco Inc. NY lifted its position in shares of GTT Communications by 68.8% in the third quarter. Bamco Inc. NY now owns 2,278,200 shares of the technology company’s stock worth $72,105,000 after buying an additional 928,200 shares in the last quarter. Allianz Asset Management GmbH lifted its position in shares of GTT Communications by 103.3% in the fourth quarter. Allianz Asset Management GmbH now owns 390,818 shares of the technology company’s stock worth $18,349,000 after buying an additional 198,605 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of GTT Communications by 11.4% in the second quarter. Vanguard Group Inc. now owns 1,228,307 shares of the technology company’s stock worth $38,876,000 after buying an additional 126,032 shares in the last quarter. Finally, Monarch Partners Asset Management LLC lifted its position in shares of GTT Communications by 160.6% in the third quarter. Monarch Partners Asset Management LLC now owns 179,355 shares of the technology company’s stock worth $5,677,000 after buying an additional 110,525 shares in the last quarter. Institutional investors own 64.60% of the company’s stock.
About GTT Communications
GTT Communications, Inc provides cloud networking services to a range of clients. The Company offers a portfolio of global communications services, wide area network (WAN) services; Internet services; managed network and security services, and voice and unified communication services. It provides Layer 2 (Ethernet) and Layer 3 (multiprotocol label switching (MPLS)) WAN solutions for multinational clients.
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