Goldman Sachs Group Upgrades Altice USA (ATUS) to Conviction-Buy
Goldman Sachs Group upgraded shares of Altice USA (NYSE:ATUS) from a buy rating to a conviction-buy rating in a research report released on Tuesday. Goldman Sachs Group currently has $19.91 price target on the stock, down from their prior price target of $28.00.
ATUS has been the subject of several other reports. Barclays set a $22.00 price target on shares of Altice USA and gave the company a hold rating in a report on Wednesday, December 6th. Pivotal Research reissued a buy rating and set a $28.00 price target on shares of Altice USA in a report on Friday, March 9th. Morgan Stanley cut their price target on shares of Altice USA from $32.00 to $25.00 and set an equal weight rating for the company in a report on Tuesday, November 14th. Societe Generale started coverage on shares of Altice USA in a report on Wednesday, December 13th. They set a buy rating for the company. Finally, Royal Bank of Canada cut their price target on shares of Altice USA from $40.00 to $35.00 and set an outperform rating for the company in a report on Tuesday, November 14th. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Altice USA has a consensus rating of Buy and an average target price of $30.92.
Altice USA (ATUS) opened at $20.25 on Tuesday. Altice USA has a 1-year low of $17.80 and a 1-year high of $35.29. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 3.88.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Lucerne Capital Management LP acquired a new stake in Altice USA in the 4th quarter valued at about $129,721,000. Zimmer Partners LP increased its position in Altice USA by 48.4% in the 4th quarter. Zimmer Partners LP now owns 3,470,100 shares of the company’s stock valued at $73,670,000 after acquiring an additional 1,131,750 shares in the last quarter. BlackRock Inc. increased its position in Altice USA by 161.5% in the 4th quarter. BlackRock Inc. now owns 3,227,522 shares of the company’s stock valued at $68,520,000 after acquiring an additional 1,993,479 shares in the last quarter. Pelham Capital Ltd. increased its position in Altice USA by 54.9% in the 4th quarter. Pelham Capital Ltd. now owns 2,555,474 shares of the company’s stock valued at $54,253,000 after acquiring an additional 905,474 shares in the last quarter. Finally, Thornburg Investment Management Inc. increased its position in Altice USA by 15.5% in the 3rd quarter. Thornburg Investment Management Inc. now owns 2,469,626 shares of the company’s stock valued at $67,445,000 after acquiring an additional 332,260 shares in the last quarter. Hedge funds and other institutional investors own 16.08% of the company’s stock.
About Altice USA
Altice USA, Inc is engaged in providing broadband communications and video services in the United States. The Company’s segments include Cablevision and Cequel. Cablevision provides broadband, pay television and telephony services to residential and business customers in and around the New York metropolitan area.
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