B. Riley assumed coverage on shares of Shenandoah Telecommunications (NASDAQ:SHEN) in a report published on Thursday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $46.00 target price on the utilities provider’s stock.

Several other equities analysts have also commented on the company. Zacks Investment Research lowered Shenandoah Telecommunications from a hold rating to a sell rating in a research note on Saturday, July 28th. BidaskClub upgraded Shenandoah Telecommunications from a sell rating to a hold rating in a research note on Friday, June 1st. ValuEngine upgraded Shenandoah Telecommunications from a hold rating to a buy rating in a research note on Thursday, May 31st. Finally, TheStreet upgraded Shenandoah Telecommunications from a c+ rating to a b- rating in a research note on Friday, August 24th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Shenandoah Telecommunications currently has a consensus rating of Buy and an average price target of $45.67.

Shares of Shenandoah Telecommunications stock traded up $0.55 during trading on Thursday, hitting $38.50. 2,640 shares of the stock traded hands, compared to its average volume of 148,042. The firm has a market cap of $1.86 billion, a P/E ratio of 149.62 and a beta of 0.45. The company has a current ratio of 1.41, a quick ratio of 1.36 and a debt-to-equity ratio of 1.71. Shenandoah Telecommunications has a 52-week low of $29.92 and a 52-week high of $41.80.

Shenandoah Telecommunications (NASDAQ:SHEN) last announced its quarterly earnings results on Tuesday, August 7th. The utilities provider reported $0.16 EPS for the quarter, beating the consensus estimate of $0.10 by $0.06. The firm had revenue of $154.03 million for the quarter, compared to analyst estimates of $152.83 million. Shenandoah Telecommunications had a return on equity of 6.34% and a net margin of 12.60%. analysts forecast that Shenandoah Telecommunications will post 0.55 earnings per share for the current year.

In related news, SVP Edward H. Mckay sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $36.75, for a total transaction of $73,500.00. Following the sale, the senior vice president now owns 17,959 shares of the company’s stock, valued at $659,993.25. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Raymond B. Ostroski sold 9,000 shares of the firm’s stock in a transaction dated Thursday, August 9th. The shares were sold at an average price of $36.53, for a total value of $328,770.00. Following the sale, the vice president now directly owns 24,364 shares in the company, valued at approximately $890,016.92. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,215 shares of company stock worth $791,907. 6.84% of the stock is owned by corporate insiders.

A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. boosted its position in Shenandoah Telecommunications by 7.8% during the second quarter. BlackRock Inc. now owns 3,323,426 shares of the utilities provider’s stock valued at $108,676,000 after purchasing an additional 239,253 shares in the last quarter. Renaissance Technologies LLC boosted its position in Shenandoah Telecommunications by 0.8% during the second quarter. Renaissance Technologies LLC now owns 1,145,600 shares of the utilities provider’s stock valued at $37,461,000 after purchasing an additional 8,600 shares in the last quarter. FMR LLC boosted its position in Shenandoah Telecommunications by 10.9% during the second quarter. FMR LLC now owns 452,156 shares of the utilities provider’s stock valued at $14,786,000 after purchasing an additional 44,500 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in Shenandoah Telecommunications by 7.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 263,559 shares of the utilities provider’s stock worth $8,619,000 after acquiring an additional 18,966 shares in the last quarter. Finally, Prudential Financial Inc. boosted its holdings in Shenandoah Telecommunications by 23.8% in the first quarter. Prudential Financial Inc. now owns 136,069 shares of the utilities provider’s stock worth $4,899,000 after acquiring an additional 26,140 shares in the last quarter. 46.91% of the stock is currently owned by institutional investors.

Shenandoah Telecommunications Company Profile

Shenandoah Telecommunications Company, through its subsidiaries, provides regulated and unregulated telecommunications services to customers and other telecommunications providers in central and western Virginia, south-central Pennsylvania, West Virginia, Maryland, North Carolina, Kentucky, Tennessee, and Ohio.

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