ATN International (NASDAQ:ATNI) Upgraded by Zacks Investment Research to Buy

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ATN International (NASDAQ:ATNI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Thursday, Zacks.com reports. The brokerage currently has a $63.00 target price on the technology company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 14.32% from the company’s previous close.

According to Zacks, “ATN International, Inc. invests, own and operate communications companies and renewable energy assets. The company through its operating subsidiaries provide wireless and wireline connectivity to residential and business customers including mobile wireless solutions, local exchange services and broadband internet services; distributed solar electric power to corporate, utility and municipal customers and owner and operator of terrestrial and submarine fiber optic transport systems primarily in the United States and the Caribbean. ATN International Inc., formerly known as Atlantic Tele-Network, Inc., is based in Beverly, United States. “

ATNI has been the subject of a number of other research reports. TheStreet downgraded shares of ATN International from a “c” rating to a “d+” rating in a report on Wednesday, October 23rd. BWS Financial raised their price target on shares of ATN International from $65.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Maxim Group restated a “buy” rating and set a $71.00 price target on shares of ATN International in a report on Wednesday, July 24th. ValuEngine upgraded shares of ATN International from a “hold” rating to a “buy” rating in a report on Wednesday, September 4th. Finally, Raymond James restated a “buy” rating and set a $67.00 price target on shares of ATN International in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $71.50.

Shares of NASDAQ ATNI traded down $0.87 during midday trading on Thursday, reaching $55.11. 30,800 shares of the stock were exchanged, compared to its average volume of 58,801. The company has a 50 day simple moving average of $57.95 and a 200 day simple moving average of $58.52. The stock has a market capitalization of $917.88 million, a P/E ratio of 42.72 and a beta of 0.32. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.87 and a current ratio of 1.83. ATN International has a twelve month low of $50.48 and a twelve month high of $88.78.

ATN International (NASDAQ:ATNI) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.08. The business had revenue of $115.62 million during the quarter, compared to the consensus estimate of $115.49 million. ATN International had a net margin of 0.02% and a return on equity of 0.02%. On average, research analysts expect that ATN International will post -0.14 earnings per share for the current year.

In related news, VP William F. Kreisher sold 2,000 shares of the stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $61.18, for a total transaction of $122,360.00. Following the completion of the transaction, the vice president now owns 54,442 shares of the company’s stock, valued at approximately $3,330,761.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael T. Prior sold 3,333 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $58.78, for a total transaction of $195,913.74. Following the transaction, the chief executive officer now directly owns 431,431 shares of the company’s stock, valued at approximately $25,359,514.18. The disclosure for this sale can be found here. Insiders have sold a total of 7,333 shares of company stock valued at $440,274 in the last ninety days. 4.34% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of the business. Russell Investments Group Ltd. boosted its position in ATN International by 28.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 16,616 shares of the technology company’s stock valued at $972,000 after buying an additional 3,643 shares during the period. Rhumbline Advisers lifted its position in shares of ATN International by 5.1% during the 3rd quarter. Rhumbline Advisers now owns 36,105 shares of the technology company’s stock worth $2,107,000 after purchasing an additional 1,737 shares during the last quarter. Sun Life Financial INC lifted its position in shares of ATN International by 144.0% during the 2nd quarter. Sun Life Financial INC now owns 2,450 shares of the technology company’s stock worth $141,000 after purchasing an additional 1,446 shares during the last quarter. Acadian Asset Management LLC lifted its position in shares of ATN International by 11.3% during the 2nd quarter. Acadian Asset Management LLC now owns 85,230 shares of the technology company’s stock worth $4,919,000 after purchasing an additional 8,651 shares during the last quarter. Finally, Global Alpha Capital Management Ltd. lifted its position in shares of ATN International by 3.3% during the 2nd quarter. Global Alpha Capital Management Ltd. now owns 217,914 shares of the technology company’s stock worth $12,580,000 after purchasing an additional 6,860 shares during the last quarter. 63.77% of the stock is owned by institutional investors.

About ATN International

ATN International, Inc, through its subsidiaries, provides wireless and wireline telecommunications services in North America, India, Bermuda, and the Caribbean. It operates through three segments: U.S. Telecom, International Telecom, and Renewable Energy. The U.S. Telecom segment offers wireless and wireline services; wholesale wireless voice and data roaming services to wireless carriers principally in the Southwest and Midwest the United States; and retail wireless, wireline, and wholesale long-distance voice services to telecommunications carriers.

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