Shares of GTT Communications Inc (NYSE:GTT) have been given a consensus recommendation of “Buy” by the twelve ratings firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and nine have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $49.89.

Several research firms recently issued reports on GTT. ValuEngine lowered GTT Communications from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 8th. BWS Financial started coverage on GTT Communications in a research note on Monday, August 6th. They set a “sell” rating and a $5.00 price target for the company. William Blair reaffirmed a “buy” rating on shares of GTT Communications in a research note on Monday, August 6th. Zacks Investment Research lowered GTT Communications from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 8th. Finally, Raymond James reaffirmed a “buy” rating and set a $53.00 price target on shares of GTT Communications in a research note on Monday, August 20th.

In other news, General Counsel Chris Mckee sold 7,000 shares of the business’s stock in a transaction dated Thursday, September 20th. The stock was sold at an average price of $45.00, for a total value of $315,000.00. Following the completion of the sale, the general counsel now owns 399,854 shares of the company’s stock, valued at approximately $17,993,430. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Spruce House Partnership Lp bought 234,067 shares of the stock in a transaction dated Thursday, September 6th. The stock was bought at an average cost of $40.01 per share, with a total value of $9,365,020.67. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 3,443,731 shares of company stock valued at $133,601,041. Corporate insiders own 23.01% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GTT. Parallel Advisors LLC bought a new stake in shares of GTT Communications in the 3rd quarter valued at about $100,000. PNC Financial Services Group Inc. increased its holdings in GTT Communications by 148.8% during the 2nd quarter. PNC Financial Services Group Inc. now owns 2,928 shares of the technology company’s stock valued at $133,000 after purchasing an additional 1,751 shares during the period. Bessemer Group Inc. purchased a new position in GTT Communications during the 3rd quarter valued at about $189,000. Public Employees Retirement Association of Colorado purchased a new position in GTT Communications during the 3rd quarter valued at about $212,000. Finally, Tower Research Capital LLC TRC purchased a new position in GTT Communications during the 2nd quarter valued at about $213,000. 76.62% of the stock is owned by institutional investors.

NYSE:GTT traded down $0.57 during trading hours on Friday, hitting $31.10. 5,235 shares of the company’s stock traded hands, compared to its average volume of 766,130. The firm has a market capitalization of $1.74 billion, a price-to-earnings ratio of 129.50 and a beta of 1.14. GTT Communications has a 52 week low of $30.24 and a 52 week high of $62.32. The company has a debt-to-equity ratio of 6.62, a quick ratio of 0.68 and a current ratio of 0.68.

GTT Communications (NYSE:GTT) last posted its quarterly earnings data on Thursday, November 8th. The technology company reported ($0.43) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.61) by $0.18. The company had revenue of $448.60 million during the quarter, compared to analyst estimates of $456.19 million. GTT Communications had a negative return on equity of 13.27% and a negative net margin of 18.67%. The firm’s quarterly revenue was up 121.4% on a year-over-year basis. During the same quarter last year, the company earned ($0.23) earnings per share. Equities analysts forecast that GTT Communications will post -1.12 earnings per share for the current fiscal year.

About GTT Communications

GTT Communications, Inc provides cloud networking services to multinational enterprises, carriers, and government customers worldwide. The company provides private, public, and hybrid cloud network solutions; high bandwidth-Internet connectivity and IP transit, as well as broadband and wireless access services; managed equipment and security services; and voice and unified communications services consisting of SIP trunking and enterprise PBX services.

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Analyst Recommendations for GTT Communications (NYSE:GTT)

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