Cogent Communications Group Inc. (CCOI) Stock Rating Reaffirmed by William Blair
Cogent Communications Group Inc. (NASDAQ:CCOI)‘s stock had its “outperform” rating reiterated by equities researchers at William Blair in a research note issued to investors on Friday.
CCOI has been the topic of several other reports. Oppenheimer Holdings Inc. reiterated an “outperform” rating and issued a $45.00 price objective on shares of Cogent Communications Group in a report on Wednesday, August 10th. TheStreet downgraded shares of Cogent Communications Group from a “buy” rating to a “hold” rating in a report on Monday, August 22nd. Citigroup Inc. decreased their price objective on shares of Cogent Communications Group from $45.00 to $41.00 and set a “neutral” rating on the stock in a report on Friday, August 12th. Drexel Hamilton set a $44.00 price objective on shares of Cogent Communications Group and gave the company a “buy” rating in a report on Friday, August 5th. Finally, Jefferies Group reiterated a “hold” rating on shares of Cogent Communications Group in a report on Saturday, August 6th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $42.70.
Cogent Communications Group (NASDAQ:CCOI) opened at 34.96 on Friday. The company’s 50-day moving average is $35.87 and its 200 day moving average is $38.62. Cogent Communications Group has a one year low of $29.24 and a one year high of $43.61. The company has a market capitalization of $1.56 billion, a P/E ratio of 118.11 and a beta of 0.98.
Cogent Communications Group (NASDAQ:CCOI) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.09 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.09. Cogent Communications Group had a net margin of 3.10% and a negative return on equity of 89.73%. The firm had revenue of $110 million for the quarter, compared to analyst estimates of $110.88 million. During the same period in the prior year, the firm posted $0.02 earnings per share. The company’s quarterly revenue was up 11.3% compared to the same quarter last year. Analysts predict that Cogent Communications Group will post $0.40 EPS for the current year.
In other Cogent Communications Group news, VP Henry W. Kilmer sold 1,000 shares of the stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $42.15, for a total transaction of $42,150.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Tim Weingarten sold 2,822 shares of the stock in a transaction dated Friday, September 16th. The stock was sold at an average price of $35.57, for a total transaction of $100,378.54. Following the sale, the director now owns 21,479 shares in the company, valued at $764,008.03. The disclosure for this sale can be found here. Company insiders own 9.17% of the company’s stock.
Large investors have recently made changes to their positions in the company. BlackRock Inc. boosted its position in Cogent Communications Group by 115.5% in the first quarter. BlackRock Inc. now owns 3,205 shares of the company’s stock worth $126,000 after buying an additional 1,718 shares during the period. US Bancorp DE boosted its position in Cogent Communications Group by 2.8% in the second quarter. US Bancorp DE now owns 3,427 shares of the company’s stock worth $137,000 after buying an additional 93 shares during the period. Gilder Gagnon Howe & Co. LLC boosted its position in Cogent Communications Group by 113.6% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 3,546 shares of the company’s stock worth $142,000 after buying an additional 1,886 shares during the period. Riverhead Capital Management LLC bought a new position in Cogent Communications Group during the first quarter worth approximately $165,000. Finally, O Shaughnessy Asset Management LLC boosted its position in Cogent Communications Group by 306.9% in the second quarter. O Shaughnessy Asset Management LLC now owns 5,025 shares of the company’s stock worth $201,000 after buying an additional 3,790 shares during the period. Hedge funds and other institutional investors own 98.09% of the company’s stock.
Cogent Communications Group Company Profile
Cogent Communications Holdings, Inc is a facilities-based provider of Internet access and Internet Protocol (IP), communications services. The Company’s network is specifically designed and optimized to transmit data using IP. The Company delivers its services primarily to small and medium-sized businesses, communications service providers and other bandwidth-intensive organizations in North America, Europe and in Japan.
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