Charter Communications (NASDAQ:CHTR) Stock Gets Price Target Reduction from Citigroup

Charter Communications (NASDAQ:CHTR) had its price target cut by Citigroup from $180.00 to $140.00 in a research note released on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

Several other analysts have also recently weighed in on the stock. Benchmark reiterated a “buy” rating on shares of Charter Communications in a report on Wednesday, July 22nd. JPMorgan Chase & Co. dropped their target price on shares of Charter Communications from $200.00 to $150.00 and set a “neutral” rating for the company in a research report on Wednesday, July 29th. UBS Group dropped their target price on shares of Charter Communications from $235.00 to $140.00 and set a “neutral” rating for the company in a research report on Monday, July 27th. The Goldman Sachs Group cut their target price on shares of Charter Communications from $120.00 to $110.00 and set a “sell” rating on the stock in a research note on Friday, September 25th. Finally, Arete Research upgraded shares of Charter Communications to a “strong sell” rating in a research report on Thursday, October 1st. Five analysts have rated the stock with a Buy rating, nine have given a Hold rating and seven have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Charter Communications presently has an average rating of “Reduce” and a consensus price target of $200.18.

Charter Communications Price Performance

CHTR opened at $125.86 on Tuesday. The company has a debt-to-equity ratio of 4.32, a quick ratio of 0.36 and a current ratio of 0.36. Charter Communications has a 52-week low of $101.11 and a 52-week high of $254.11. The stock has a market capitalization of $15.01 billion, a PE ratio of 3.27, a price-to-earnings-growth ratio of 0.25 and a beta of 0.73. The stock’s 50 day moving average price is $121.54 and its 200-day moving average price is $163.66.

Hedge Funds Weigh In On Charter Communications

A number of hedge funds have recently bought and sold shares of the company. Bank of America Corp DE lifted its stake in Charter Communications by 28.4% in the first quarter. Bank of America Corp DE now owns 731,708 shares of the company’s stock worth $157,961,000 after acquiring an additional 161,888 shares during the last quarter. State of Michigan Retirement System grew its holdings in Charter Communications by 1,547.4% during the 1st quarter. State of Michigan Retirement System now owns 431,582 shares of the company’s stock worth $93,170,000 after acquiring an additional 405,385 shares in the last quarter. Sei Investments Co. increased its position in shares of Charter Communications by 79.2% in the 1st 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 last quarter. Swiss National Bank increased its position in shares of Charter Communications by 1.5% in the 1st 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 last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Charter Communications by 443.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 419,881 shares of the company’s stock valued at $46,565,000 after purchasing an additional 342,668 shares in the last quarter. Institutional investors own 81.76% of the company’s stock.

About Charter Communications

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.