GTT Communications Inc (NYSE:GTT) has been given a consensus recommendation of “Buy” by the nine analysts that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $58.17.
A number of equities analysts have recently issued reports on the stock. Guggenheim assumed coverage on shares of GTT Communications in a research report on Tuesday. They set a “neutral” rating and a $56.00 price objective on the stock. Zacks Investment Research cut shares of GTT Communications from a “buy” rating to a “hold” rating in a research report on Tuesday, March 6th. Oppenheimer increased their price objective on shares of GTT Communications from $52.00 to $68.00 in a research report on Tuesday, February 27th. William Blair reissued an “outperform” rating on shares of GTT Communications in a research report on Monday, February 26th. Finally, Craig Hallum reissued a “buy” rating and set a $60.00 price objective (up previously from $50.00) on shares of GTT Communications in a research report on Monday, February 26th.
In other news, insider Richard Calder sold 6,000 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $45.85, for a total transaction of $275,100.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Elizabeth Satin acquired 4,000 shares of the business’s stock in a transaction dated Thursday, March 1st. The shares were bought at an average cost of $51.22 per share, for a total transaction of $204,880.00. Following the transaction, the director now directly owns 23,013 shares in the company, valued at $1,178,725.86. The disclosure for this purchase can be found here. 25.70% of the stock is owned by corporate insiders.
Shares of GTT Communications (GTT) traded down $1.30 during trading on Friday, reaching $58.90. The company’s stock had a trading volume of 307,673 shares, compared to its average volume of 315,188. 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 52-week low of $22.95 and a 52-week high of $62.00. The firm has a market cap of $2,642.44, a P/E ratio of -34.40, a P/E/G ratio of 48.12 and a beta of 1.10.
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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