Cogent Communications (NASDAQ:CCOI) was downgraded by BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued on Saturday.

A number of other equities research analysts have also commented on the company. Macquarie lowered Cogent Communications from a “neutral” rating to an “underperform” rating in a research report on Friday, November 3rd. Jefferies Group upped their target price on Cogent Communications from $39.00 to $43.00 and gave the company a “hold” rating in a research report on Friday, November 3rd. Raymond James Financial reiterated an “underperform” rating on shares of Cogent Communications in a research report on Friday, November 3rd. SunTrust Banks lowered Cogent Communications from a “buy” rating to a “hold” rating and set a $43.00 target price on the stock. in a research report on Friday, November 3rd. Finally, Citigroup lowered Cogent Communications from a “neutral” rating to a “sell” rating and dropped their target price for the company from $43.00 to $39.00 in a research report on Thursday, November 2nd. Five investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. Cogent Communications currently has an average rating of “Hold” and a consensus price target of $43.77.

Cogent Communications (CCOI) remained flat at $$46.85 on Friday. 409,512 shares of the stock traded hands, compared to its average volume of 359,544. Cogent Communications has a one year low of $35.75 and a one year high of $54.85. The company has a debt-to-equity ratio of -8.84, a current ratio of 4.22 and a quick ratio of 4.22. The stock has a market cap of $2,152.99, a price-to-earnings ratio of 130.14, a P/E/G ratio of 12.22 and a beta of 0.59.

Cogent Communications (NASDAQ:CCOI) last issued its earnings results on Thursday, November 2nd. The technology company reported $0.08 EPS for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.06). The firm had revenue of $123.00 million during the quarter, compared to analysts’ expectations of $123.60 million. Cogent Communications had a net margin of 3.37% and a negative return on equity of 23.86%. Cogent Communications’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.08 EPS. sell-side analysts forecast that Cogent Communications will post 0.38 earnings per share for the current fiscal year.

In other Cogent Communications news, Director Tim Weingarten sold 1,616 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $45.97, for a total value of $74,287.52. Following the sale, the director now owns 18,686 shares in the company, valued at approximately $858,995.42. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Raymond B. Kummer sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $46.62, for a total value of $186,480.00. Following the completion of the sale, the vice president now owns 53,340 shares in the company, valued at approximately $2,486,710.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,616 shares of company stock worth $637,148. Insiders own 9.48% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its position in Cogent Communications by 3.5% in the 2nd quarter. BlackRock Inc. now owns 5,128,950 shares of the technology company’s stock worth $205,670,000 after purchasing an additional 172,987 shares in the last quarter. Jennison Associates LLC lifted its position in shares of Cogent Communications by 25.3% during the 3rd quarter. Jennison Associates LLC now owns 2,340,837 shares of the technology company’s stock valued at $114,467,000 after buying an additional 473,088 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Cogent Communications by 13.5% during the 2nd quarter. Renaissance Technologies LLC now owns 2,058,600 shares of the technology company’s stock valued at $82,550,000 after buying an additional 245,100 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Cogent Communications by 11.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,484,133 shares of the technology company’s stock valued at $59,513,000 after buying an additional 150,328 shares in the last quarter. Finally, MIG Capital LLC lifted its position in shares of Cogent Communications by 7.3% during the 2nd quarter. MIG Capital LLC now owns 1,425,000 shares of the technology company’s stock valued at $57,143,000 after buying an additional 97,160 shares in the last quarter. Institutional investors and hedge funds own 95.61% of the company’s stock.

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Cogent Communications Company Profile

Cogent Communications Holdings, Inc is a facilities-based provider of Internet access and Internet Protocol (IP), communications services. The Company’s network is specifically designed and optimized to transmit data using IP. The Company delivers its services primarily to small and medium-sized businesses, communications service providers and other bandwidth-intensive organizations in North America, Europe and in Japan.

Analyst Recommendations for Cogent Communications (NASDAQ:CCOI)

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