Cogeco Inc. (CGO) Reaches New 52-Week High at $87.80

Cogeco Inc. (TSE:CGO)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as C$87.80 and last traded at C$86.67, with a volume of 7,491 shares changing hands. The stock had previously closed at C$85.90.

Several brokerages have recently issued reports on CGO. TD Securities lowered Cogeco from a “buy” rating to a “hold” rating and set a C$95.00 price target on the stock. in a research note on Friday, October 6th. Royal Bank Of Canada reiterated a “sector perform” rating on shares of Cogeco in a research note on Tuesday, July 4th.

The stock’s 50-day moving average is $81.63 and its 200 day moving average is $73.97. The firm has a market cap of $1.42 billion and a P/E ratio of 12.37.

In related news, insider Elizabeth Alves sold 474 shares of the stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of C$75.80, for a total value of C$35,929.20.

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Cogeco Company Profile

Cogeco Inc is a holding company, which operates in the communications and media sectors. The Company operates through two segments: Communications and Other. The Communications segment, through the Company’s subsidiary, Cogeco Communications Inc (Cogeco Communications), provides its residential and business customers with video, Internet and telephony services through its two-way broadband fiber networks.

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