Uniti Group (UNIT) Upgraded by BidaskClub to Hold

Uniti Group (NASDAQ:UNIT) was upgraded by research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued on Tuesday.

A number of other equities research analysts also recently commented on UNIT. J P Morgan Chase & Co restated an “overweight” rating and issued a $31.00 target price on shares of Uniti Group in a research report on Monday, August 14th. Bank of America downgraded Uniti Group from a “buy” rating to a “neutral” rating in a research report on Tuesday, August 15th. Zacks Investment Research upgraded Uniti Group from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a research report on Wednesday, August 16th. Morgan Stanley restated an “overweight” rating and issued a $24.00 target price (down previously from $34.00) on shares of Uniti Group in a research report on Wednesday, August 23rd. Finally, Cowen restated a “buy” rating and issued a $33.00 target price on shares of Uniti Group in a research report on Friday, August 25th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $26.63.

Uniti Group (NASDAQ UNIT) traded up $0.43 during trading hours on Tuesday, reaching $17.83. The company’s stock had a trading volume of 2,202,592 shares, compared to its average volume of 2,085,786. Uniti Group has a 12 month low of $13.81 and a 12 month high of $29.65. The company has a debt-to-equity ratio of -0.05, a current ratio of 0.03 and a quick ratio of 0.03. The stock has a market capitalization of $2,986.38, a P/E ratio of 7.03, a P/E/G ratio of 0.93 and a beta of 1.17.

Several hedge funds have recently bought and sold shares of UNIT. Raymond James Trust N.A. purchased a new stake in shares of Uniti Group in the 1st quarter valued at $648,000. Creative Planning purchased a new stake in shares of Uniti Group in the 1st quarter valued at $292,000. Berson & Corrado Investment Advisors LLC purchased a new stake in shares of Uniti Group in the 1st quarter valued at $6,527,000. Bank of Montreal Can purchased a new stake in shares of Uniti Group in the 1st quarter valued at $1,284,000. Finally, Capstone Asset Management Co. acquired a new position in Uniti Group during the 1st quarter worth $473,000. Hedge funds and other institutional investors own 70.03% of the company’s stock.

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Uniti Group Company Profile

Uniti Group Inc, formerly Communications Sales & Leasing, Inc, is an internally managed real estate investment trust engaged in the acquisition and construction of infrastructure in the communications industry. The Company focuses on acquiring and constructing fiber optic broadband networks, wireless communications towers, copper and coaxial broadband networks and data centers.

Analyst Recommendations for Uniti Group (NASDAQ:UNIT)

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