Cogent Communications Holdings Inc (CCOI) Given Average Rating of “Hold” by Analysts

Cogent Communications Holdings Inc (NASDAQ:CCOI) has earned an average rating of “Hold” from the sixteen research firms that are covering the firm, MarketBeat.com reports. Six research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $41.40.

A number of research analysts have commented on CCOI shares. Zacks Investment Research raised Cogent Communications from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a report on Monday, January 15th. Citigroup downgraded Cogent Communications from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $43.00 to $39.00 in a report on Thursday, November 2nd. BidaskClub downgraded Cogent Communications from a “hold” rating to a “sell” rating in a report on Friday, January 26th. Raymond James Financial reaffirmed an “underperform” rating on shares of Cogent Communications in a report on Friday, November 3rd. Finally, Jefferies Group increased their target price on Cogent Communications from $39.00 to $43.00 and gave the stock a “hold” rating in a report on Friday, November 3rd.

In related news, Director Marc Montagner sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $47.00, for a total value of $235,000.00. Following the sale, the director now directly owns 40,000 shares in the company, valued at approximately $1,880,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Henry W. Kilmer sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $44.54, for a total value of $133,620.00. Following the completion of the sale, the vice president now owns 33,600 shares in the company, valued at $1,496,544. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,250 shares of company stock worth $611,435. 9.48% of the stock is owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Flinton Capital Management LLC increased its position in Cogent Communications by 63.4% in the 2nd quarter. Flinton Capital Management LLC now owns 2,640 shares of the technology company’s stock valued at $106,000 after acquiring an additional 1,024 shares during the period. PNC Financial Services Group Inc. increased its position in Cogent Communications by 1,919.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,776 shares of the technology company’s stock valued at $151,000 after acquiring an additional 3,589 shares during the period. Sei Investments Co. increased its position in Cogent Communications by 42.4% in the 3rd quarter. Sei Investments Co. now owns 4,163 shares of the technology company’s stock valued at $203,000 after acquiring an additional 1,240 shares during the period. Amalgamated Bank increased its position in Cogent Communications by 4.8% in the 2nd quarter. Amalgamated Bank now owns 5,756 shares of the technology company’s stock valued at $231,000 after acquiring an additional 265 shares during the period. Finally, Envestnet Asset Management Inc. increased its position in Cogent Communications by 225.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 4,762 shares of the technology company’s stock valued at $232,000 after acquiring an additional 3,300 shares during the period. Hedge funds and other institutional investors own 94.99% of the company’s stock.

Cogent Communications (NASDAQ:CCOI) opened at $43.55 on Friday. The company has a current ratio of 4.22, a quick ratio of 4.22 and a debt-to-equity ratio of -8.84. Cogent Communications has a 1-year low of $37.85 and a 1-year high of $54.85. The company has a market capitalization of $2,072.57 and a P/E ratio of 120.97.

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

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About Cogent Communications

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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