Consolidated Communications (NASDAQ:CNSL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.

According to Zacks, “Consolidated Communications Holdings, Inc. offers a wide range of telecommunications services including local and long distance telephone, Digital Phone, High-Speed Internet access and Digital TV to individuals and businesses in Illinois, Pennsylvania, and Texas. The company also offers telephone directory publishing services, wholesale transport services, billing and collection services, inside wiring services, and maintenance services. Consolidated Communications Holdings, Inc. is headquartered in Mattoon, Illinois. “

Several other brokerages have also issued reports on CNSL. Jefferies Group decreased their price target on shares of Consolidated Communications from $21.00 to $19.00 and set a “hold” rating for the company in a research note on Friday, November 3rd. Drexel Hamilton upgraded shares of Consolidated Communications from a “hold” rating to a “buy” rating in a research note on Tuesday, January 2nd. They noted that the move was a valuation call. ValuEngine lowered shares of Consolidated Communications from a “hold” rating to a “sell” rating in a research note on Sunday, December 31st. Finally, Cowen restated a “hold” rating and set a $21.00 price target on shares of Consolidated Communications in a research note on Thursday, October 19th. Two analysts have rated the stock with a sell rating, three have given a hold rating, three have given a buy rating and two have given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $22.00.

Consolidated Communications (NASDAQ CNSL) traded down $0.16 during trading on Tuesday, hitting $12.54. 896,842 shares of the company’s stock traded hands, compared to its average volume of 1,312,330. Consolidated Communications has a 1 year low of $12.03 and a 1 year high of $26.79. The company has a debt-to-equity ratio of 4.61, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market cap of $899.62, a PE ratio of -23.22, a P/E/G ratio of 22.39 and a beta of 0.74.

In other Consolidated Communications news, Director Robert J. Currey acquired 5,000 shares of Consolidated Communications stock in a transaction that occurred on Tuesday, November 14th. The stock was acquired at an average cost of $13.43 per share, for a total transaction of $67,150.00. Following the purchase, the director now owns 45,995 shares of the company’s stock, valued at $617,712.85. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas A. Gerke acquired 6,850 shares of Consolidated Communications stock in a transaction that occurred on Tuesday, November 7th. The stock was acquired at an average price of $14.63 per share, with a total value of $100,215.50. Following the completion of the purchase, the director now directly owns 12,667 shares in the company, valued at approximately $185,318.21. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 17,550 shares of company stock valued at $247,203. 3.00% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Csenge Advisory Group purchased a new position in Consolidated Communications in the 3rd quarter valued at approximately $257,000. Vanguard Group Inc. grew its stake in Consolidated Communications by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 5,655,583 shares of the utilities provider’s stock valued at $121,425,000 after buying an additional 48,111 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Consolidated Communications by 16.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,463,325 shares of the utilities provider’s stock valued at $27,919,000 after buying an additional 210,612 shares in the last quarter. Engineers Gate Manager LP purchased a new position in Consolidated Communications in the 3rd quarter valued at approximately $751,000. Finally, JPMorgan Chase & Co. grew its stake in Consolidated Communications by 619,367.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 910,617 shares of the utilities provider’s stock valued at $17,758,000 after buying an additional 910,470 shares in the last quarter. Institutional investors and hedge funds own 70.79% of the company’s stock.

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About Consolidated Communications

Consolidated Communications Holdings, Inc is a holding company with operating subsidiaries that provide integrated communications services in consumer, commercial and carrier channels in California, Illinois, Iowa, Kansas, Minnesota, Missouri, North Dakota, Pennsylvania, South Dakota, Texas and Wisconsin.

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