CIBC Has Lowered Expectations for Cogeco Communications (TSE:CCA) Stock Price

Cogeco Communications (TSE:CCA) had its price objective dropped by equities researchers at CIBC from C$73.00 to C$71.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. CIBC’s price target indicates a potential upside of 13.71% from the company’s previous close.

Other analysts also recently issued research reports about the stock. Canaccord Genuity Group raised shares of Cogeco Communications from a “hold” rating to a “buy” rating and lifted their target price for the company from C$65.00 to C$77.00 in a report on Monday, November 4th. National Bankshares raised Cogeco Communications from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from C$64.00 to C$80.00 in a report on Friday, September 20th. TD Securities boosted their target price on Cogeco Communications from C$85.00 to C$89.00 in a research report on Monday, November 4th. BMO Capital Markets raised their price target on Cogeco Communications from C$70.00 to C$80.00 in a report on Monday, November 4th. Finally, National Bank Financial raised Cogeco Communications from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 19th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Cogeco Communications currently has a consensus rating of “Moderate Buy” and a consensus target price of C$76.17.

Cogeco Communications Price Performance

Shares of TSE CCA opened at C$62.44 on Wednesday. The stock has a fifty day moving average price of C$68.68 and a 200 day moving average price of C$65.61. Cogeco Communications has a 1-year low of C$50.82 and a 1-year high of C$75.09. The company has a debt-to-equity ratio of 142.88, a current ratio of 0.41 and a quick ratio of 0.49. The company has a market cap of C$1.87 billion, a PE ratio of 7.96, a P/E/G ratio of 4.77 and a beta of 0.59.

Insider Transactions at Cogeco Communications

In other news, Director Robin Anne Bienenstock purchased 2,156 shares of the firm’s stock in a transaction on Friday, November 29th. The shares were bought at an average cost of C$69.66 per share, with a total value of C$150,189.33. Also, Director Jacques Royer sold 657 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of C$68.86, for a total value of C$45,241.02. Following the completion of the transaction, the director now owns 1 shares of the company’s stock, valued at C$68.86. This trade represents a 99.85 % decrease in their ownership of the stock. Corporate insiders own 0.46% of the company’s stock.

About Cogeco Communications

Cogeco Communications Inc operates as a telecommunications corporation in Canada and the United States. It operates in two segments, Canadian Telecommunications and American Telecommunications. The company offers Internet, video, and Internet protocol (IP) based telephony services to residential and small business customers through its two-way broadband fiber networks.