Cogent Communications (CCOI) Given “Outperform” Rating at William Blair

William Blair restated their outperform rating on shares of Cogent Communications (NASDAQ:CCOI) in a research note issued to investors on Monday.

Several other research firms have also recently commented on CCOI. BidaskClub raised Cogent Communications from a hold rating to a buy rating in a research note on Saturday, September 29th. BTIG Research cut Cogent Communications from a buy rating to a neutral rating in a research note on Monday. They noted that the move was a valuation call. Zacks Investment Research cut Cogent Communications from a hold rating to a sell rating in a research note on Wednesday, July 4th. Oppenheimer raised their target price on Cogent Communications from $51.00 to $57.00 and gave the stock an outperform rating in a research note on Monday, June 11th. Finally, Guggenheim reaffirmed a hold rating and set a $47.00 target price on shares of Cogent Communications in a research note on Friday, August 3rd. Three analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $47.89.

NASDAQ CCOI opened at $52.61 on Monday. Cogent Communications has a one year low of $35.75 and a one year high of $57.65. The company has a market cap of $2.59 billion, a P/E ratio of 138.45, a price-to-earnings-growth ratio of 8.51 and a beta of 0.59. The company has a quick ratio of 3.96, a current ratio of 3.96 and a debt-to-equity ratio of -6.22.

Cogent Communications (NASDAQ:CCOI) last released its earnings results on Thursday, August 2nd. The technology company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.04). Cogent Communications had a negative return on equity of 22.38% and a net margin of 2.13%. The business had revenue of $129.30 million for the quarter, compared to analyst estimates of $131.13 million. During the same period in the prior year, the business earned $0.10 EPS. The company’s revenue for the quarter was up 7.9% on a year-over-year basis. As a group, research analysts predict that Cogent Communications will post 0.66 EPS for the current fiscal year.

In other Cogent Communications news, VP Robert N. Beury, Jr. sold 3,000 shares of the stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $53.95, for a total value of $161,850.00. Following the transaction, the vice president now owns 47,840 shares in the company, valued at $2,580,968. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Timothy G. Oneill sold 1,000 shares of the stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $51.95, for a total value of $51,950.00. Following the completion of the transaction, the vice president now owns 40,652 shares in the company, valued at approximately $2,111,871.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,911 shares of company stock worth $1,796,751. Corporate insiders own 10.21% of the company’s stock.

Large investors have recently made changes to their positions in the business. SG Americas Securities LLC bought a new position in Cogent Communications in the first quarter worth approximately $152,000. Quantbot Technologies LP bought a new position in shares of Cogent Communications in the first quarter valued at approximately $216,000. Sei Investments Co. lifted its holdings in shares of Cogent Communications by 29.7% in the first quarter. Sei Investments Co. now owns 5,344 shares of the technology company’s stock valued at $232,000 after purchasing an additional 1,223 shares in the last quarter. Captrust Financial Advisors bought a new position in shares of Cogent Communications in the second quarter valued at approximately $266,000. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of Cogent Communications in the second quarter valued at approximately $311,000. Institutional investors and hedge funds own 90.40% of the company’s stock.

About Cogent Communications

Cogent Communications Holdings, Inc, through its subsidiaries, provides high-speed Internet access and Internet protocol communications services primarily to small and medium-sized businesses, communications service providers, and other bandwidth-intensive organizations in North America, Europe, and Asia.

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