Telecom Argentina Stet – France Telecom S.A. (NYSE:TEO) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued on Wednesday.

According to Zacks, “TELECOM ARGENTINA holds a license to provide basic telephone service and fixes telecommunications links in the northern region of the Argentine Republic. The Company contributes to the country┬┤s economic and social development by means of incorporating the latest technological advances achieved to-date in the field of telecommunications world-wide. “

Several other equities analysts have also weighed in on TEO. BidaskClub lowered Telecom Argentina Stet – France Telecom from a “buy” rating to a “hold” rating in a research note on Friday, June 16th. HSBC Holdings plc lowered Telecom Argentina Stet – France Telecom from a “buy” rating to a “hold” rating in a research note on Thursday, June 22nd. Bank of America Corporation upgraded Telecom Argentina Stet – France Telecom from a “neutral” rating to a “buy” rating and lifted their price target for the company from $26.00 to $30.00 in a research note on Monday, July 3rd. Morgan Stanley lowered Telecom Argentina Stet – France Telecom from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $25.00 to $28.00 in a research note on Thursday, August 10th. Finally, ValuEngine upgraded Telecom Argentina Stet – France Telecom from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Telecom Argentina Stet – France Telecom presently has a consensus rating of “Buy” and an average target price of $29.67.

Telecom Argentina Stet – France Telecom (NYSE:TEO) traded down 0.57% during trading on Wednesday, hitting $31.25. The stock had a trading volume of 43,471 shares. Telecom Argentina Stet – France Telecom has a 52-week low of $17.04 and a 52-week high of $32.12. The firm’s 50-day moving average price is $30.79 and its 200-day moving average price is $26.81. The company has a market cap of $3.01 billion, a price-to-earnings ratio of 7.62 and a beta of 1.47.

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Institutional investors have recently made changes to their positions in the stock. IHT Wealth Management LLC increased its stake in shares of Telecom Argentina Stet – France Telecom by 11.4% in the 2nd quarter. IHT Wealth Management LLC now owns 1,950 shares of the utilities provider’s stock valued at $334,000 after purchasing an additional 200 shares in the last quarter. Pictet Asset Management Ltd. purchased a new position in shares of Telecom Argentina Stet – France Telecom in the 2nd quarter valued at about $114,000. Dumac Inc. purchased a new position in shares of Telecom Argentina Stet – France Telecom in the 4th quarter valued at about $111,000. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in shares of Telecom Argentina Stet – France Telecom in the 2nd quarter valued at about $208,000. Finally, Group One Trading L.P. increased its stake in shares of Telecom Argentina Stet – France Telecom by 665.3% in the 1st quarter. Group One Trading L.P. now owns 8,296 shares of the utilities provider’s stock valued at $184,000 after purchasing an additional 7,212 shares in the last quarter. Hedge funds and other institutional investors own 5.22% of the company’s stock.

About Telecom Argentina Stet – France Telecom

Telecom Argentina SA provides fixed-line telecommunications services in Argentina, and also provides other telephone-related services, such as international long-distance service, data transmission, information technology solutions outsourcing and Internet services. The Company’s segments include Fixed Telecommunications Services (Fixed Services), Personal Mobile Telecommunications Services (Personal Mobile Services) and Nucleo Mobile Telecommunications Services (Nucleo Mobile Services).

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