Charter Communications, Inc. (NASDAQ:CHTR) Stock Rated “Reduce” by Sell-Side Brokerages

Charter Communications, Inc. (NASDAQ:CHTR) has received an average recommendation of “Reduce” from the twenty-two brokerages that are presently covering the stock, Marketbeat.com reports. Seven analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $202.53.

CHTR has been the topic of several recent analyst reports. Morgan Stanley lowered their price target on Charter Communications from $150.00 to $140.00 and set an “equal weight” rating on the stock in a report on Friday, September 25th. Arete Research raised Charter Communications to a “strong sell” rating in a report on Thursday, October 1st. Barclays cut their target price on shares of Charter Communications from $130.00 to $115.00 and set an “underweight” rating for the company in a research report on Monday, July 27th. BNP Paribas Exane cut their target price on Charter Communications from $150.00 to $120.00 and set an “underperform” rating on the stock in a research note on Tuesday, July 14th. Finally, Weiss Ratings lowered Charter Communications from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, October 2nd.

Charter Communications Price Performance

CHTR stock opened at $111.49 on Friday. The firm has a 50 day moving average of $124.22 and a 200-day moving average of $165.21. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 4.32. Charter Communications has a 12 month low of $101.11 and a 12 month high of $254.11. The firm has a market capitalization of $13.30 billion, a P/E ratio of 2.90, a price-to-earnings-growth ratio of 0.23 and a beta of 0.70.

Institutional Trading of Charter Communications

A number of large investors have recently made changes to their positions in CHTR. Bank of America Corp DE increased its position in shares of Charter Communications by 28.4% during the 1st quarter. Bank of America Corp DE now owns 731,708 shares of the company’s stock valued at $157,961,000 after purchasing an additional 161,888 shares during the last quarter. State of Michigan Retirement System lifted its position in Charter Communications by 1,547.4% during the first quarter. State of Michigan Retirement System now owns 431,582 shares of the company’s stock valued at $93,170,000 after purchasing an additional 405,385 shares in the last quarter. Sei Investments Co. grew its holdings in Charter Communications by 79.2% during the first quarter. Sei Investments Co. now owns 250,497 shares of the company’s stock valued at $54,078,000 after purchasing an additional 110,684 shares during the period. Swiss National Bank grew its holdings in Charter Communications by 1.5% during the first quarter. Swiss National Bank now owns 246,896 shares of the company’s stock valued at $53,300,000 after purchasing an additional 3,560 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in Charter Communications by 443.8% in the third quarter. Assenagon Asset Management S.A. now owns 419,881 shares of the company’s stock worth $46,565,000 after buying an additional 342,668 shares in the last quarter. 81.76% of the stock is currently owned by institutional investors.

Charter Communications Company Profile

Charter Communications, Inc is a telecommunications and broadband services company that operates under the Spectrum brand. The company provides internet access, video entertainment, mobile communications and voice services to residential customers, as well as connectivity, data networking, cloud, security and other communications solutions to businesses and government organizations.

Charter operates one of the largest broadband networks in the United States, serving customers across dozens of states.