Shares of GTT Communications Inc (NYSE:GTT) have been given an average rating of “Buy” by the seven brokerages that are covering the stock. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $34.17.
GTT has been the subject of a number of research reports. Jefferies Group LLC reiterated a “buy” rating and set a $36.00 price target (up from $30.00) on shares of GTT Communications in a research report on Saturday, March 11th. Zacks Investment Research downgraded GTT Communications from a “buy” rating to a “hold” rating in a research report on Friday, March 10th. Cowen and Company restated an “outperform” rating and set a $36.00 price objective (down from $37.00) on shares of GTT Communications in a research report on Saturday, March 11th. Finally, BTIG Research began coverage on GTT Communications in a research report on Thursday, February 9th. They set a “buy” rating and a $36.00 price objective for the company.
In other GTT Communications news, Director Elizabeth Satin purchased 4,000 shares of the business’s stock in a transaction on Monday, March 13th. The stock was bought at an average cost of $24.50 per share, for a total transaction of $98,000.00. Following the acquisition, the director now owns 11,912 shares of the company’s stock, valued at approximately $291,844. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Chris Mckee sold 7,000 shares of the business’s stock in a transaction on Wednesday, February 1st. The shares were sold at an average price of $27.63, for a total value of $193,410.00. Following the completion of the transaction, the general counsel now owns 430,366 shares of the company’s stock, valued at $11,891,012.58. The disclosure for this sale can be found here. Insiders sold a total of 34,000 shares of company stock valued at $872,950 over the last quarter. 29.86% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of GTT. AQR Capital Management LLC acquired a new position in shares of GTT Communications during the fourth quarter valued at $214,000. Oppenheimer & Co. Inc. increased its position in shares of GTT Communications by 36.7% in the third quarter. Oppenheimer & Co. Inc. now owns 25,294 shares of the technology company’s stock valued at $595,000 after buying an additional 6,794 shares during the period. Skylands Capital LLC acquired a new position in shares of GTT Communications during the first quarter valued at $665,000. SG Capital Management LLC acquired a new position in shares of GTT Communications during the third quarter valued at $819,000. Finally, Teachers Advisors LLC increased its position in shares of GTT Communications by 2.3% in the fourth quarter. Teachers Advisors LLC now owns 42,851 shares of the technology company’s stock valued at $1,232,000 after buying an additional 949 shares during the period. Institutional investors own 56.98% of the company’s stock.
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GTT Communications (NYSE:GTT) traded up 1.66% during trading on Monday, reaching $27.60. The company had a trading volume of 220,826 shares. The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of 197.14 and a beta of 1.70. GTT Communications has a 1-year low of $14.96 and a 1-year high of $29.75. The firm has a 50-day moving average of $24.98 and a 200-day moving average of $25.83.
GTT Communications (NYSE:GTT) last posted its quarterly earnings results on Wednesday, March 8th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.11 by $0.13. GTT Communications had a net margin of 6.74% and a return on equity of 1.77%. The company had revenue of $136.50 million for the quarter, compared to analyst estimates of $135.24 million. The company’s revenue for the quarter was up 18.9% on a year-over-year basis. On average, analysts anticipate that GTT Communications will post $0.06 EPS for the current fiscal year.
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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