Sprint (NYSE:S) had its target price upped by Bank of America from $2.60 to $3.00 in a research note issued to investors on Monday. The firm currently has an “underperform” rating on the cell phone carrier’s stock. Bank of America’s target price points to a potential downside of 43.93% from the stock’s current price.
Several other analysts have also commented on the stock. Cowen reaffirmed a “hold” rating on shares of Sprint in a research report on Monday. Robert W. Baird reaffirmed a “hold” rating and issued a $6.00 price objective on shares of Sprint in a research report on Friday. Macquarie lowered shares of Sprint from a “neutral” rating to an “underperform” rating and set a $5.00 price objective on the stock. in a research report on Tuesday, January 23rd. Barclays reaffirmed a “hold” rating and issued a $5.00 price objective on shares of Sprint in a research report on Friday, January 19th. Finally, Vetr downgraded shares of Sprint from a “strong-buy” rating to a “buy” rating and set a $5.90 target price for the company. in a research note on Thursday, January 4th. Nine investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the company’s stock. Sprint has an average rating of “Hold” and a consensus target price of $6.08.
Shares of Sprint (NYSE:S) traded down $0.01 during mid-day trading on Monday, reaching $5.35. 4,091,380 shares of the company’s stock traded hands, compared to its average volume of 18,438,109. The company has a market capitalization of $21,441.86, a price-to-earnings ratio of 3.10 and a beta of 0.64. The company has a current ratio of 0.92, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. Sprint has a twelve month low of $4.91 and a twelve month high of $9.44.
In other news, major shareholder Group Corp Softbank acquired 4,322,990 shares of Sprint stock in a transaction that occurred on Thursday, November 9th. The stock was bought at an average price of $6.21 per share, with a total value of $26,845,767.90. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jorge Enrique Gracia sold 112,959 shares of the business’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $6.18, for a total transaction of $698,086.62. Following the transaction, the insider now directly owns 858,383 shares of the company’s stock, valued at approximately $5,304,806.94. The disclosure for this sale can be found here. In the last quarter, insiders bought 72,408,783 shares of company stock valued at $421,783,446 and sold 913,236 shares valued at $5,377,413. 0.18% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of S. Gamco Investors INC. ET AL grew its stake in Sprint by 10.7% in the 4th quarter. Gamco Investors INC. ET AL now owns 1,913,227 shares of the cell phone carrier’s stock worth $11,269,000 after buying an additional 185,142 shares in the last quarter. Gabelli Funds LLC grew its stake in Sprint by 26.3% in the 4th quarter. Gabelli Funds LLC now owns 3,331,253 shares of the cell phone carrier’s stock worth $19,621,000 after buying an additional 692,700 shares in the last quarter. Aperio Group LLC grew its stake in Sprint by 7.2% in the 4th quarter. Aperio Group LLC now owns 266,211 shares of the cell phone carrier’s stock worth $1,568,000 after buying an additional 17,857 shares in the last quarter. Parametrica Management Ltd grew its stake in Sprint by 327.8% in the 4th quarter. Parametrica Management Ltd now owns 221,547 shares of the cell phone carrier’s stock worth $1,305,000 after buying an additional 169,756 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Sprint by 6.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 229,692 shares of the cell phone carrier’s stock worth $1,353,000 after buying an additional 13,719 shares in the last quarter. 13.76% of the stock is owned by institutional investors.
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About Sprint
Sprint Corporation (Sprint) is a holding company. The Company, along with its subsidiaries, is a communications company offering a range of wireless and wireline communications products and services that are designed to meet the needs of consumers, businesses, government subscribers and resellers. It operates through two segments: Wireless and Wireline.
