CIBC Issues Pessimistic Forecast for Cogeco Communications (TSE:CCA) Stock Price

Cogeco Communications (TSE:CCA) had its price target decreased by equities researchers at CIBC from C$73.00 to C$71.00 in a note issued to investors on Wednesday,BayStreet.CA reports. CIBC’s target price indicates a potential upside of 13.71% from the stock’s previous close.

Several other analysts have also recently weighed in on CCA. National Bank Financial raised shares of Cogeco Communications from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 19th. Scotiabank reduced their price objective on shares of Cogeco Communications from C$77.50 to C$75.50 in a report on Wednesday. Canaccord Genuity Group raised shares of Cogeco Communications from a “hold” rating to a “buy” rating and lifted their price objective for the stock from C$65.00 to C$77.00 in a research report on Monday, November 4th. National Bankshares raised Cogeco Communications from a “sector perform” rating to an “outperform” rating and increased their target price for the company from C$64.00 to C$80.00 in a report on Friday, September 20th. Finally, BMO Capital Markets lifted their price target on Cogeco Communications from C$70.00 to C$80.00 in a report on Monday, November 4th. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of C$76.17.

Cogeco Communications Price Performance

Shares of TSE CCA opened at C$62.44 on Wednesday. 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 cap of C$1.87 billion, a price-to-earnings ratio of 7.96, a price-to-earnings-growth ratio of 4.77 and a beta of 0.59. The stock’s 50-day moving average is C$68.68 and its two-hundred day moving average is C$65.61. Cogeco Communications has a 1-year low of C$50.82 and a 1-year high of C$75.09.

Insiders Place Their Bets

In other news, Director Robin Anne Bienenstock acquired 2,156 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was acquired at an average cost of C$69.66 per share, with a total value of C$150,189.33. Also, Director Jacques Royer sold 657 shares of Cogeco Communications stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of C$68.86, for a total transaction of C$45,241.02. Following the completion of the transaction, the director now directly owns 1 shares in the company, valued at C$68.86. The trade was a 99.85 % decrease in their ownership of the stock. Corporate insiders own 0.46% of the company’s stock.

Cogeco Communications Company Profile

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.