Telephone and Data Systems (NYSE:TDS) Price Target Cut to $47.00 by Analysts at Citigroup

Telephone and Data Systems (NYSE:TDS) had its price target cut by stock analysts at Citigroup from $50.00 to $47.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the Wireless communications provider’s stock. Citigroup’s price target indicates a potential upside of 34.05% from the stock’s current price.

Other equities analysts have also issued reports about the company. Weiss Ratings upgraded Telephone and Data Systems from a “hold (c-)” rating to a “hold (c+)” rating in a research report on Tuesday. Raymond James Financial downgraded Telephone and Data Systems from an “outperform” rating to a “market perform” rating in a research report on Monday, May 11th. Zacks Research raised Telephone and Data Systems from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. Finally, Wall Street Zen upgraded shares of Telephone and Data Systems from a “sell” rating to a “hold” rating in a report on Saturday, May 30th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $47.00.

Telephone and Data Systems Trading Up 5.7%

Shares of NYSE:TDS traded up $1.89 on Thursday, reaching $35.06. 441,415 shares of the company traded hands, compared to its average volume of 1,024,727. The business’s 50-day simple moving average is $36.17 and its 200 day simple moving average is $41.18. Telephone and Data Systems has a 52 week low of $31.51 and a 52 week high of $49.12. The stock has a market capitalization of $3.99 billion, a P/E ratio of 11.69 and a beta of 0.32. The company has a current ratio of 3.43, a quick ratio of 3.42 and a debt-to-equity ratio of 0.16.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Knighthead Capital Management LLC bought a new stake in shares of Telephone and Data Systems during the 1st quarter valued at about $18,764,000. Carronade Capital Management LP increased its position in shares of Telephone and Data Systems by 10.0% during the first quarter. Carronade Capital Management LP now owns 4,623,934 shares of the Wireless communications provider’s stock valued at $194,668,000 after buying an additional 420,340 shares during the period. Rokos Capital Management LLP bought a new position in Telephone and Data Systems in the first quarter worth about $21,040,000. 140 Summer Partners LP lifted its holdings in Telephone and Data Systems by 5.3% in the fourth quarter. 140 Summer Partners LP now owns 1,315,306 shares of the Wireless communications provider’s stock worth $53,928,000 after buying an additional 66,148 shares during the period. Finally, Horizon Investments LLC lifted its holdings in Telephone and Data Systems by 186.7% in the fourth quarter. Horizon Investments LLC now owns 39,891 shares of the Wireless communications provider’s stock worth $1,636,000 after buying an additional 25,975 shares during the period. Institutional investors own 80.00% of the company’s stock.

Telephone and Data Systems Company Profile

Telephone and Data Systems, Inc (NYSE: TDS) is a diversified telecommunications company headquartered in Chicago, Illinois. Through its subsidiaries, the company provides a broad array of communications services, including wireless voice and data, wireline broadband and voice, cable television, and managed IT and cloud solutions. Its two primary operating units—TDS Telecom and U.S. Cellular—serve residential, business and wholesale customers across the United States.

TDS Telecom focuses on delivering broadband internet, digital voice, video and data communications services in primarily rural and suburban markets.