Shenandoah Telecommunications (NASDAQ:SHEN) has received an average recommendation of “Buy” from the seven research firms that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $46.00.

Several research analysts have recently commented on the stock. Zacks Investment Research lowered shares of Shenandoah Telecommunications from a “buy” rating to a “hold” rating in a research note on Wednesday, October 10th. TheStreet upgraded shares of Shenandoah Telecommunications from a “c+” rating to a “b-” rating in a research note on Friday, August 24th. BidaskClub upgraded shares of Shenandoah Telecommunications from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 19th. Finally, B. Riley assumed coverage on shares of Shenandoah Telecommunications in a research note on Thursday, September 13th. They set a “buy” rating and a $46.00 price target on the stock.

Shares of SHEN opened at $35.59 on Friday. Shenandoah Telecommunications has a 12 month low of $29.92 and a 12 month high of $40.40. The firm has a market cap of $1.76 billion, a PE ratio of 75.72 and a beta of 0.29. 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 (NASDAQ:SHEN) last announced its quarterly earnings results on Tuesday, August 7th. The utilities provider reported $0.16 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.06. Shenandoah Telecommunications had a net margin of 12.60% and a return on equity of 6.34%. The company had revenue of $154.03 million for the quarter, compared to analyst estimates of $152.83 million. Equities research analysts forecast that Shenandoah Telecommunications will post 0.57 earnings per share for the current fiscal year.

In related news, VP Raymond B. Ostroski sold 9,000 shares of the company’s stock in a transaction on Thursday, August 9th. The shares were sold at an average price of $36.53, for a total transaction of $328,770.00. Following the completion of the sale, the vice president now directly owns 24,364 shares of the company’s stock, valued at approximately $890,016.92. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Edward H. Mckay sold 5,215 shares of the company’s stock in a transaction on Friday, August 24th. The stock was sold at an average price of $37.15, for a total transaction of $193,737.25. Following the sale, the senior vice president now directly owns 17,959 shares of the company’s stock, valued at $667,176.85. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 21,215 shares of company stock valued at $789,757. 6.84% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Hartford Investment Management Co. bought a new stake in shares of Shenandoah Telecommunications during the 2nd quarter worth $251,000. Jane Street Group LLC bought a new stake in shares of Shenandoah Telecommunications during the 1st quarter worth $280,000. Convergence Investment Partners LLC bought a new stake in shares of Shenandoah Telecommunications during the 2nd quarter worth $352,000. BNP Paribas Arbitrage SA boosted its holdings in shares of Shenandoah Telecommunications by 30.7% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 12,814 shares of the utilities provider’s stock worth $419,000 after buying an additional 3,007 shares during the period. Finally, Nisa Investment Advisors LLC bought a new stake in shares of Shenandoah Telecommunications during the 2nd quarter worth $601,000. 46.91% of the stock is owned by institutional investors and hedge funds.

About Shenandoah Telecommunications

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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