CIBC Cuts Cogeco Communications (TSE:CCA) Price Target to C$71.00

Cogeco Communications (TSE:CCA) had its price target reduced by CIBC from C$73.00 to C$71.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. CIBC’s price objective indicates a potential upside of 12.68% from the company’s previous close.

Several other equities research analysts also recently weighed in on CCA. TD Securities raised their price objective on Cogeco Communications from C$85.00 to C$89.00 in a report on Monday, November 4th. BMO Capital Markets upped their target price on Cogeco Communications from C$70.00 to C$80.00 in a research report on Monday, November 4th. Royal Bank of Canada lifted their target price on Cogeco Communications from C$76.00 to C$79.00 in a report on Thursday, October 10th. Scotiabank cut their target price on shares of Cogeco Communications from C$77.50 to C$75.50 in a research note on Wednesday. Finally, National Bank Financial raised shares of Cogeco Communications from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 19th. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Cogeco Communications presently has an average rating of “Moderate Buy” and a consensus price target of C$76.17.

Cogeco Communications Price Performance

CCA stock traded down C$0.42 during trading on Wednesday, reaching C$63.01. 79,536 shares of the company were exchanged, compared to its average volume of 76,797. Cogeco Communications has a twelve month low of C$50.82 and a twelve month 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 capitalization of C$1.89 billion, a price-to-earnings ratio of 8.04, a P/E/G ratio of 4.77 and a beta of 0.59. The company has a 50-day moving average of C$69.05 and a two-hundred day moving average of C$65.46.

Insider Buying and Selling

In other Cogeco Communications news, Director Robin Anne Bienenstock bought 2,156 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were purchased at an average cost of C$69.66 per share, for a total transaction of C$150,189.33. Also, Director Jacques Royer sold 657 shares of the 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 sale, the director now owns 1 shares in the company, valued at C$68.86. The trade was a 99.85 % decrease in their position. 0.46% of the stock is owned by company insiders.

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.