Cincinnati Bell (CBB) Upgraded to Hold by ValuEngine
ValuEngine upgraded shares of Cincinnati Bell (NYSE:CBB) from a sell rating to a hold rating in a research note released on Wednesday morning.
Several other brokerages have also recently issued reports on CBB. UBS Group cut shares of Cincinnati Bell from a buy rating to a hold rating and set a $18.00 target price on the stock. in a report on Tuesday, July 10th. Wells Fargo & Co raised their target price on shares of Cincinnati Bell to $15.00 and gave the stock an outperform rating in a report on Thursday, September 6th. Finally, Morgan Stanley restated an equal weight rating on shares of Cincinnati Bell in a report on Saturday, June 2nd. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Cincinnati Bell has a consensus rating of Hold and a consensus price target of $16.33.
NYSE:CBB opened at $14.30 on Wednesday. Cincinnati Bell has a 52 week low of $9.90 and a 52 week high of $22.20. The company has a quick ratio of 1.81, a current ratio of 1.90 and a debt-to-equity ratio of -6.33.
In related news, Director Phillip R. Cox sold 14,597 shares of the firm’s stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $12.60, for a total value of $183,922.20. Following the sale, the director now owns 9,216 shares in the company, valued at $116,121.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.40% of the company’s stock.
A number of hedge funds have recently modified their holdings of CBB. Piedmont Investment Advisors LLC purchased a new stake in Cincinnati Bell in the second quarter worth approximately $155,000. Element Capital Management LLC bought a new position in Cincinnati Bell in the first quarter worth approximately $263,000. BNP Paribas Arbitrage SA raised its position in Cincinnati Bell by 31.8% in the second quarter. BNP Paribas Arbitrage SA now owns 18,448 shares of the utilities provider’s stock worth $290,000 after acquiring an additional 4,449 shares during the period. Aperio Group LLC raised its position in Cincinnati Bell by 48.5% in the second quarter. Aperio Group LLC now owns 19,741 shares of the utilities provider’s stock worth $310,000 after acquiring an additional 6,448 shares during the period. Finally, MYDA Advisors LLC bought a new position in Cincinnati Bell in the second quarter worth approximately $393,000. Institutional investors own 74.32% of the company’s stock.
About Cincinnati Bell
Cincinnati Bell Inc, together with its subsidiaries, provides diversified telecommunications and technology services to residential and business customers in the United States. It operates in two segments, Entertainment and Communications, and IT Services and Hardware. The Entertainment and Communications segment offers data services, including high-speed Internet access, data transport, and interconnection services, as well as metro-Ethernet products; and voice local services, such as Fioptics voice lines, voice over Internet protocol, long distance, digital trunking, switched access, caller identification, voicemail, call waiting, and call return.
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To view ValuEngine’s full report, visit ValuEngine’s official website.
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