Shares of GTT Communications Inc (NYSE:GTT) have been given a consensus rating of “Buy” by the six ratings firms that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $46.00.
GTT has been the subject of several research analyst reports. Zacks Investment Research upgraded GTT Communications from a “sell” rating to a “hold” rating in a research report on Wednesday, January 3rd. Oppenheimer increased their price objective on GTT Communications from $39.00 to $52.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 20th. Finally, Craig Hallum reiterated a “buy” rating and issued a $50.00 price objective (up previously from $40.00) on shares of GTT Communications in a research report on Monday, January 22nd.
In other news, insider Mcmullen Family Trust purchased 60,000 shares of the company’s stock in a transaction dated Tuesday, November 21st. The stock was acquired at an average price of $0.65 per share, for a total transaction of $39,000.00. Also, Director S Joseph Bruno sold 1,000 shares of the firm’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $40.50, for a total value of $40,500.00. Following the completion of the transaction, the director now owns 108,467 shares of the company’s stock, valued at approximately $4,392,913.50. The disclosure for this sale can be found here. Insiders sold 18,000 shares of company stock valued at $712,580 in the last quarter. 25.70% of the stock is currently owned by company insiders.
Shares of GTT Communications (NYSE:GTT) opened at $44.60 on Tuesday. GTT Communications has a 52 week low of $22.95 and a 52 week high of $47.75. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 4.08. The company has a market capitalization of $1,898.99, a P/E ratio of -68.62, a PEG ratio of 17.22 and a beta of 1.22.
About GTT Communications
GTT Communications, Inc provides cloud networking services to a range of clients. The Company offers a portfolio of global communications services, wide area network (WAN) services; Internet services; managed network and security services, and voice and unified communication services. It provides Layer 2 (Ethernet) and Layer 3 (multiprotocol label switching (MPLS)) WAN solutions for multinational clients.
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