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.
ILLEGAL ACTIVITY NOTICE: “GTT Communications Inc (GTT) Receives $34.17 Average PT from Analysts” was reported by WKRB News and is the sole property of of WKRB News. If you are accessing this story on another website, it was stolen and reposted in violation of U.S. & international copyright legislation. The legal version of this story can be viewed at https://www.wkrb13.com/markets/2065697/gtt-communications-inc-gtt-receives-34-17-average-pt-from-analysts.html.
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.
This story was originally published by WKRB News (https://www.wkrb13.com) and is the sole property of WKRB News. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at https://www.wkrb13.com/markets/2065697/gtt-communications-inc-gtt-receives-34-17-average-pt-from-analysts.html
Receive News & Ratings for GTT Communications Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GTT Communications Inc and related companies with MarketBeat.com's FREE daily email newsletter.