Research analysts at Guggenheim began coverage on shares of GTT Communications (NYSE:GTT) in a research report issued on Tuesday, The Fly reports. The brokerage set a “neutral” rating on the technology company’s stock.
Several other analysts have also recently commented on GTT. Oppenheimer lifted their target price on shares of GTT Communications from $52.00 to $68.00 in a research note on Tuesday, February 27th. SunTrust Banks lifted their target price on shares of GTT Communications to $60.00 and gave the stock a “buy” rating in a research note on Friday, March 2nd. Jefferies Group lifted their target price on shares of GTT Communications to $62.00 and gave the stock a “buy” rating in a research note on Friday, March 2nd. Craig Hallum reiterated a “buy” rating and issued a $60.00 price target (up previously from $50.00) on shares of GTT Communications in a report on Monday, February 26th. Finally, Zacks Investment Research upgraded shares of GTT Communications from a “sell” rating to a “hold” rating in a report on Wednesday, January 3rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $57.00.
GTT Communications (GTT) opened at $60.20 on Tuesday. The company has a debt-to-equity ratio of 5.34, a quick ratio of 1.22 and a current ratio of 1.22. GTT Communications has a 12 month low of $22.95 and a 12 month high of $62.00. The firm has a market cap of $2,642.44, a P/E ratio of -34.40, a PEG ratio of 48.12 and a beta of 1.10.
A number of hedge funds have recently modified their holdings of GTT. Wealthsource Partners LLC acquired a new position in GTT Communications in the 4th quarter worth $203,000. California Public Employees Retirement System acquired a new position in GTT Communications in the 4th quarter worth $214,000. Xact Kapitalforvaltning AB acquired a new position in GTT Communications in the 4th quarter worth $231,000. Brown Advisory Inc. acquired a new position in GTT Communications in the 4th quarter worth $235,000. Finally, JPMorgan Chase & Co. lifted its holdings in GTT Communications by 52.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 7,950 shares of the technology company’s stock worth $250,000 after buying an additional 2,726 shares in the last quarter. Hedge funds and other institutional investors own 66.76% of the company’s stock.
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GTT Communications Company Profile
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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