Zacks Investment Research Upgrades Liberty Latin America (NASDAQ:LILA) to Buy

Liberty Latin America (NASDAQ:LILA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday, Zacks.com reports. The brokerage currently has a $13.00 target price on the stock. Zacks Investment Research‘s target price would indicate a potential upside of 12.65% from the company’s previous close.

According to Zacks, “Liberty Latin America is a telecommunication company. Its business products and services include enterprise-grade connectivity, data center, hosting and managed solutions, as well as information technology solutions. It operates primarily in Chile, Puerto Rico, the Caribbean and other parts of Latin America. Liberty Latin America, formerly known as Liberty LiLAC, is based in DENVER. “

A number of other equities research analysts have also weighed in on the company. Morgan Stanley raised Liberty Latin America from an “equal weight” rating to an “overweight” rating and set a $11.00 target price for the company in a research note on Friday, October 9th. Benchmark boosted their target price on Liberty Latin America from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Thursday, October 15th. Scotiabank lowered Liberty Latin America from a “sector perform” rating to a “sector underperform” rating and set a $6.50 target price for the company. in a research note on Thursday, November 5th. Finally, The Goldman Sachs Group raised Liberty Latin America from a “neutral” rating to a “buy” rating and set a $15.00 target price for the company in a research note on Friday, October 9th. One equities research analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $13.67.

Shares of LILA traded down $0.17 during midday trading on Wednesday, reaching $11.54. The stock had a trading volume of 494,842 shares, compared to its average volume of 471,078. The company’s 50-day moving average is $11.48 and its 200 day moving average is $10.23. Liberty Latin America has a 12-month low of $7.55 and a 12-month high of $19.34. The company has a market capitalization of $2.68 billion, a price-to-earnings ratio of -3.42 and a beta of 1.39.

Liberty Latin America (NASDAQ:LILA) last posted its quarterly earnings data on Monday, November 9th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.39). The firm had revenue of $887.50 million during the quarter. As a group, equities analysts forecast that Liberty Latin America will post -2.74 earnings per share for the current fiscal year.

In related news, major shareholder John C. Malone sold 84,244 shares of the firm’s stock in a transaction on Wednesday, November 18th. The stock was sold at an average price of $12.18, for a total value of $1,026,091.92. Following the transaction, the insider now directly owns 4,366,873 shares of the company’s stock, valued at approximately $53,188,513.14. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder John C. Malone sold 225,000 shares of the firm’s stock in a transaction on Friday, November 20th. The stock was sold at an average price of $11.93, for a total value of $2,684,250.00. Following the completion of the transaction, the insider now directly owns 4,366,873 shares in the company, valued at $52,096,794.89. The disclosure for this sale can be found here. 9.46% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in LILA. California Public Employees Retirement System raised its position in shares of Liberty Latin America by 2.2% during the 2nd quarter. California Public Employees Retirement System now owns 105,159 shares of the company’s stock worth $1,022,000 after purchasing an additional 2,284 shares during the last quarter. Bank of Montreal Can grew its stake in Liberty Latin America by 571.3% during the second quarter. Bank of Montreal Can now owns 4,981 shares of the company’s stock worth $47,000 after buying an additional 4,239 shares during the period. Advisor Group Holdings Inc. grew its stake in Liberty Latin America by 12.0% during the second quarter. Advisor Group Holdings Inc. now owns 12,948 shares of the company’s stock worth $126,000 after buying an additional 1,391 shares during the period. Engineers Gate Manager LP purchased a new stake in Liberty Latin America during the second quarter worth approximately $431,000. Finally, Handelsbanken Fonder AB purchased a new stake in Liberty Latin America during the second quarter worth approximately $264,000. 17.85% of the stock is currently owned by institutional investors.

About Liberty Latin America

Liberty Latin America Ltd., together with its subsidiaries, provides fixed, mobile, and subsea telecommunications services. It offers communications and entertainment services, including video, broadband Internet, fixed-line telephony, and mobile services to residential and business customers; and business products and services that include enterprise-grade connectivity, data center, hosting, and managed solutions, as well as information technology solutions for small and medium enterprises, international companies, and governmental agencies.

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Analyst Recommendations for Liberty Latin America (NASDAQ:LILA)

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