Zacks Investment Research Downgrades Orange (ORAN) to Hold
Orange (NYSE:ORAN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.
According to Zacks, “Orange SA provides telecommunications services. It offers a range of fixed telephony and mobile telecommunications, data transmission, Internet and multimedia, and other value-added services to consumers, businesses, and other telecommunications operators under the Orange brand worldwide. Orange SA, formerly known as France Telecom S.A., is based in Paris, France. “
Separately, Argus initiated coverage on shares of Orange in a report on Monday, July 16th. They set a “buy” rating and a $21.00 target price for the company. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Orange currently has a consensus rating of “Hold” and a consensus price target of $18.50.
Hedge funds have recently made changes to their positions in the business. First Hawaiian Bank purchased a new stake in Orange during the third quarter valued at approximately $111,000. Tower Research Capital LLC TRC purchased a new stake in Orange during the second quarter valued at approximately $133,000. Ausdal Financial Partners Inc. purchased a new stake in Orange during the second quarter valued at approximately $180,000. Sei Investments Co. increased its holdings in Orange by 40.9% during the second quarter. Sei Investments Co. now owns 16,613 shares of the technology company’s stock valued at $277,000 after buying an additional 4,819 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in Orange by 41.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 17,434 shares of the technology company’s stock valued at $291,000 after buying an additional 5,140 shares during the last quarter. 1.43% of the stock is owned by institutional investors and hedge funds.
Orange SA provides a range of fixed telephony and mobile telecommunications, data transmission, and other value-added services to consumers, businesses, and other telecommunications operators in Europe, Africa, and the Middle East. It offers mobile, fixed-line telephony, fixed broadband, business solutions and networks, and carrier services; sells mobile devices, equipment, and accessories; and sells and rents fixed-line equipment.
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