Charter Communications (NASDAQ:CHTR) Price Target Cut to $160.00 by Analysts at Wells Fargo & Company

Charter Communications (NASDAQ:CHTR) had its price objective cut by Wells Fargo & Company from $170.00 to $160.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an “underweight” rating on the stock. Wells Fargo & Company‘s price target would suggest a potential upside of 18.13% from the stock’s previous close.

Several other equities analysts have also issued reports on the company. The Goldman Sachs Group decreased their price objective on Charter Communications from $185.00 to $125.00 and set a “sell” rating for the company in a research report on Thursday, July 2nd. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Charter Communications in a research note on Wednesday, June 24th. Benchmark reduced their price target on shares of Charter Communications from $455.00 to $435.00 and set a “buy” rating for the company in a report on Thursday, April 23rd. Royal Bank Of Canada lowered their price objective on shares of Charter Communications from $250.00 to $220.00 and set a “sector perform” rating for the company in a research report on Monday, April 27th. Finally, Citigroup dropped their price objective on shares of Charter Communications from $230.00 to $190.00 and set a “buy” rating on the stock in a report on Monday, June 29th. Five investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and six have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $260.06.

Charter Communications Stock Performance

Shares of Charter Communications stock opened at $135.44 on Tuesday. The company has a market capitalization of $16.66 billion, a PE ratio of 3.66, a PEG ratio of 0.24 and a beta of 0.71. Charter Communications has a 12 month low of $124.05 and a 12 month high of $422.29. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 4.56. The stock’s fifty day simple moving average is $145.77 and its 200 day simple moving average is $191.99.

Charter Communications (NASDAQ:CHTR) last posted its earnings results on Friday, April 24th. The company reported $9.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $10.01 by ($0.84). Charter Communications had a net margin of 9.03% and a return on equity of 24.20%. The business had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.56 billion. During the same period in the previous year, the firm posted $8.42 earnings per share. The firm’s revenue was down 1.0% on a year-over-year basis. On average, research analysts predict that Charter Communications will post 42.28 EPS for the current year.

Insider Activity at Charter Communications

In related news, CEO Christopher L. Winfrey bought 3,468 shares of the company’s stock in a transaction that occurred on Tuesday, April 28th. The shares were acquired at an average price of $172.23 per share, for a total transaction of $597,293.64. Following the completion of the acquisition, the chief executive officer owned 74,409 shares of the company’s stock, valued at approximately $12,815,462.07. The trade was a 4.89% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Balan Nair purchased 1,000 shares of Charter Communications stock in a transaction that occurred on Tuesday, April 28th. The shares were bought at an average cost of $175.46 per share, with a total value of $175,460.00. Following the completion of the transaction, the director directly owned 12,029 shares of the company’s stock, valued at approximately $2,110,608.34. The trade was a 9.07% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders acquired 20,125 shares of company stock worth $3,167,116. Corporate insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Charter Communications

Institutional investors and hedge funds have recently made changes to their positions in the stock. Cassaday & Co Wealth Management LLC bought a new position in shares of Charter Communications in the first quarter valued at $25,000. Quarry LP raised its position in Charter Communications by 153.2% during the fourth quarter. Quarry LP now owns 119 shares of the company’s stock worth $25,000 after acquiring an additional 72 shares in the last quarter. Altshuler Shaham Ltd acquired a new stake in Charter Communications in the fourth quarter valued at $25,000. DV Equities LLC bought a new position in shares of Charter Communications in the 4th quarter valued at about $25,000. Finally, Geneos Wealth Management Inc. increased its stake in shares of Charter Communications by 141.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 94 shares of the company’s stock worth $35,000 after purchasing an additional 55 shares during the last quarter. Institutional investors own 81.76% of the company’s stock.

About Charter Communications

Charter Communications, Inc is a U.S.-based telecommunications and mass media company that provides broadband communications and video services to residential and business customers. Operating primarily under the Spectrum brand, the company offers high-speed internet, cable television, digital voice (phone) and wireless services, as well as managed and enterprise networking solutions for commercial customers. Charter’s service portfolio targets both consumer and business markets with bundled and standalone offerings designed to meet streaming, connectivity and communications needs.

The company’s consumer-facing products include Spectrum Internet, Spectrum TV and Spectrum Voice, while Spectrum Mobile provides wireless service through arrangements with national wireless carriers.