BidaskClub downgraded shares of GTT Communications, Inc. (NYSE:GTT) from a sell rating to a strong sell rating in a research note released on Friday morning.

A number of other equities analysts have also commented on the stock. Cowen and Company lifted their price target on shares of GTT Communications from $36.00 to $40.00 and gave the company an outperform rating in a research report on Monday, May 15th. Zacks Investment Research lowered shares of GTT Communications from a buy rating to a hold rating in a research report on Wednesday, July 19th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. GTT Communications presently has an average rating of Buy and a consensus price target of $35.14.

GTT Communications (NYSE:GTT) traded up 3.23% during midday trading on Friday, reaching $31.95. 228,690 shares of the company were exchanged. The firm’s market cap is $1.32 billion. GTT Communications has a one year low of $19.86 and a one year high of $34.20. The firm’s 50-day moving average is $31.40 and its 200-day moving average is $28.73.

GTT Communications (NYSE:GTT) last released its quarterly earnings results on Thursday, August 3rd. The technology company reported $0.02 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.03) by $0.05. GTT Communications had a negative net margin of 1.88% and a positive return on equity of 4.60%. The company had revenue of $186.20 million for the quarter, compared to analyst estimates of $186.65 million. The business’s quarterly revenue was up 44.5% on a year-over-year basis. On average, equities analysts expect that GTT Communications will post ($0.15) EPS for the current fiscal year.

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In related news, Director Howard E. Janzen sold 6,000 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $30.32, for a total transaction of $181,920.00. Following the transaction, the director now owns 240,728 shares of the company’s stock, valued at $7,298,872.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Chris Mckee sold 7,000 shares of the business’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $30.37, for a total transaction of $212,590.00. Following the transaction, the general counsel now directly owns 418,457 shares in the company, valued at approximately $12,708,539.09. The disclosure for this sale can be found here. In the last three months, insiders sold 81,000 shares of company stock worth $2,526,110. Insiders own 25.70% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Cadence Capital Management LLC raised its position in shares of GTT Communications by 5.7% in the second quarter. Cadence Capital Management LLC now owns 49,998 shares of the technology company’s stock worth $1,582,000 after buying an additional 2,698 shares during the period. BNP Paribas Arbitrage SA raised its position in shares of GTT Communications by 2,153.6% in the second quarter. BNP Paribas Arbitrage SA now owns 3,448 shares of the technology company’s stock worth $109,000 after buying an additional 3,295 shares during the period. Legal & General Group Plc raised its position in shares of GTT Communications by 14.1% in the second quarter. Legal & General Group Plc now owns 7,353 shares of the technology company’s stock worth $234,000 after buying an additional 907 shares during the period. Bank of New York Mellon Corp raised its position in shares of GTT Communications by 6.5% in the second quarter. Bank of New York Mellon Corp now owns 325,388 shares of the technology company’s stock worth $10,298,000 after buying an additional 19,946 shares during the period. Finally, Rhumbline Advisers raised its position in shares of GTT Communications by 16.0% in the second quarter. Rhumbline Advisers now owns 33,510 shares of the technology company’s stock worth $1,061,000 after buying an additional 4,619 shares during the period. 57.23% of the stock is currently owned by institutional investors and hedge funds.

GTT Communications Company Profile

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.

Analyst Recommendations for GTT Communications (NYSE:GTT)

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