Consolidated Communications (CNSL) Upgraded at Zacks Investment Research

Consolidated Communications (NASDAQ:CNSL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Monday.

According to Zacks, “Consolidated Communications Holdings, Inc. offers a wide range of telecommunications services including local and long distance telephone, Digital Phone, High-Speed Internet access and Digital TV to individuals and businesses in Illinois, Pennsylvania, and Texas. The company also offers telephone directory publishing services, wholesale transport services, billing and collection services, inside wiring services, and maintenance services. Consolidated Communications Holdings, Inc. is headquartered in Mattoon, Illinois. “

Several other equities research analysts also recently weighed in on the stock. Jefferies Group reduced their price objective on shares of Consolidated Communications from $21.00 to $19.00 and set a “hold” rating for the company in a report on Friday, November 3rd. Drexel Hamilton raised shares of Consolidated Communications from a “hold” rating to a “buy” rating in a report on Tuesday, January 2nd. They noted that the move was a valuation call. Cowen reaffirmed a “hold” rating and issued a $21.00 price objective on shares of Consolidated Communications in a report on Thursday, October 19th. Finally, ValuEngine downgraded shares of Consolidated Communications from a “hold” rating to a “sell” rating in a report on Sunday, December 31st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and two have given a strong buy rating to the company’s stock. Consolidated Communications currently has a consensus rating of “Buy” and an average target price of $22.00.

Consolidated Communications (NASDAQ CNSL) traded up $0.62 during mid-day trading on Monday, reaching $12.94. 703,291 shares of the company traded hands, compared to its average volume of 1,149,286. The firm has a market capitalization of $872.70, a P/E ratio of -23.96, a P/E/G ratio of 21.72 and a beta of 0.74. Consolidated Communications has a 1-year low of $12.03 and a 1-year high of $26.79. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 4.61.

In other Consolidated Communications news, Director Thomas A. Gerke purchased 6,850 shares of the business’s stock in a transaction on Tuesday, November 7th. The stock was bought at an average cost of $14.63 per share, with a total value of $100,215.50. Following the acquisition, the director now owns 12,667 shares of the company’s stock, valued at $185,318.21. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert J. Currey purchased 5,000 shares of the business’s stock in a transaction on Tuesday, November 14th. The stock was acquired at an average cost of $13.43 per share, with a total value of $67,150.00. Following the completion of the acquisition, the director now directly owns 45,995 shares in the company, valued at approximately $617,712.85. The disclosure for this purchase can be found here. Insiders purchased 17,550 shares of company stock valued at $247,203 in the last ninety days. Corporate insiders own 3.00% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. SG Americas Securities LLC acquired a new stake in Consolidated Communications in the 2nd quarter valued at about $127,000. QS Investors LLC lifted its holdings in Consolidated Communications by 17,467.6% in the 2nd quarter. QS Investors LLC now owns 6,500 shares of the utilities provider’s stock valued at $140,000 after acquiring an additional 6,463 shares during the last quarter. Advisor Group Inc. lifted its holdings in Consolidated Communications by 28.7% in the 2nd quarter. Advisor Group Inc. now owns 8,268 shares of the utilities provider’s stock valued at $167,000 after acquiring an additional 1,846 shares during the last quarter. Crossmark Global Holdings Inc. acquired a new stake in Consolidated Communications in the 3rd quarter valued at about $194,000. Finally, Piedmont Investment Advisors LLC acquired a new stake in Consolidated Communications in the 2nd quarter valued at about $236,000. 71.04% of the stock is owned by institutional investors.

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About Consolidated Communications

Consolidated Communications Holdings, Inc is a holding company with operating subsidiaries that provide integrated communications services in consumer, commercial and carrier channels in California, Illinois, Iowa, Kansas, Minnesota, Missouri, North Dakota, Pennsylvania, South Dakota, Texas and Wisconsin.

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