Shares of Alaska Communications Systems Group, Inc. (NASDAQ:ALSK) have been given an average broker rating score of 1.00 (Strong Buy) from the one analysts that cover the stock, Zacks Investment Research reports. One analyst has rated the stock with a strong buy recommendation.

Brokerages have set a one year consensus price target of $2.90 for the company, according to Zacks. Zacks has also given Alaska Communications Systems Group an industry rank of 113 out of 265 based on the ratings given to related companies.

Separately, TheStreet downgraded shares of Alaska Communications Systems Group from a “c” rating to a “d+” rating in a report on Monday, May 22nd.

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Several hedge funds have recently modified their holdings of ALSK. Goldman Sachs Group Inc. increased its stake in shares of Alaska Communications Systems Group by 12.7% in the second quarter. Goldman Sachs Group Inc. now owns 115,243 shares of the utilities provider’s stock valued at $254,000 after buying an additional 12,967 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Alaska Communications Systems Group by 31.2% in the second quarter. Dimensional Fund Advisors LP now owns 942,355 shares of the utilities provider’s stock valued at $2,073,000 after buying an additional 224,004 shares during the last quarter. Northern Trust Corp increased its stake in shares of Alaska Communications Systems Group by 2.3% in the second quarter. Northern Trust Corp now owns 131,636 shares of the utilities provider’s stock valued at $289,000 after buying an additional 2,952 shares during the last quarter. Kennedy Capital Management Inc. increased its stake in shares of Alaska Communications Systems Group by 51.3% in the second quarter. Kennedy Capital Management Inc. now owns 646,053 shares of the utilities provider’s stock valued at $1,421,000 after buying an additional 219,061 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan purchased a new stake in shares of Alaska Communications Systems Group during the second quarter valued at $392,000. 39.69% of the stock is currently owned by institutional investors and hedge funds.

Shares of Alaska Communications Systems Group (NASDAQ:ALSK) opened at 2.11 on Friday. The firm has a 50-day moving average of $2.24 and a 200 day moving average of $2.05. The stock’s market capitalization is $110.63 million. Alaska Communications Systems Group has a 12-month low of $1.49 and a 12-month high of $2.61.

Alaska Communications Systems Group (NASDAQ:ALSK) last issued its earnings results on Thursday, August 3rd. The utilities provider reported ($0.05) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by $0.07. The firm had revenue of $58.50 million during the quarter, compared to analysts’ expectations of $58.72 million. Alaska Communications Systems Group had a negative net margin of 0.65% and a negative return on equity of 0.01%. The firm’s revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.01 EPS.

Alaska Communications Systems Group Company Profile

Alaska Communications Systems Group, Inc is a fiber broadband and managed information technology (IT) services provider. The Company is focused primarily on business and wholesale customers in and out of Alaska. The Company also provides telecommunication services to consumers across Alaska. The Company’s facilities-based communications network extends across Alaska and connects to the contiguous states through its undersea fiber optic cable systems and its usage rights on an undersea system.

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