Wells Fargo & Company Increases Consolidated Communications (NASDAQ:CNSL) Price Target to $7.00

Consolidated Communications (NASDAQ:CNSL – Get Rating) had its price target hoisted by investment analysts at Wells Fargo & Company from $6.00 to $7.00 in a report issued on Thursday, Marketbeat reports. The firm presently has an “equal weight” rating on the utilities provider’s stock. Wells Fargo & Company‘s price target would indicate a potential downside of 1.13% from the stock’s current price.

A number of other brokerages have also issued reports on CNSL. Citigroup lowered shares of Consolidated Communications from a “neutral” rating to a “sell” rating and set a $5.00 target price for the company. in a research note on Thursday, July 7th. TheStreet lowered shares of Consolidated Communications from a “c-” rating to a “d+” rating in a research note on Friday, May 6th. Finally, StockNews.com lowered shares of Consolidated Communications from a “hold” rating to a “sell” rating in a research note on Monday, July 18th.

Consolidated Communications Trading Up 0.1 %

Shares of NASDAQ:CNSL opened at $7.08 on Thursday. The firm has a fifty day moving average of $7.04 and a two-hundred day moving average of $6.58. Consolidated Communications has a 12-month low of $4.51 and a 12-month high of $9.70. The company has a debt-to-equity ratio of 4.98, a current ratio of 1.07 and a quick ratio of 1.44.

Consolidated Communications (NASDAQ:CNSL – Get Rating) last issued its earnings results on Tuesday, August 2nd. The utilities provider reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.03. Consolidated Communications had a negative net margin of 8.64% and a positive return on equity of 6.08%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Captrust Financial Advisors raised its holdings in Consolidated Communications by 38.2% in the 1st quarter. Captrust Financial Advisors now owns 7,183 shares of the utilities provider’s stock worth $42,000 after acquiring an additional 1,987 shares during the period. Bank of Montreal Can raised its holdings in Consolidated Communications by 12.8% in the 1st quarter. Bank of Montreal Can now owns 22,615 shares of the utilities provider’s stock worth $136,000 after acquiring an additional 2,563 shares during the period. Teacher Retirement System of Texas raised its holdings in Consolidated Communications by 22.4% in the 4th quarter. Teacher Retirement System of Texas now owns 14,064 shares of the utilities provider’s stock worth $105,000 after acquiring an additional 2,572 shares during the period. Syntax Advisors LLC raised its holdings in Consolidated Communications by 29.9% in the 1st quarter. Syntax Advisors LLC now owns 13,757 shares of the utilities provider’s stock worth $81,000 after acquiring an additional 3,165 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in Consolidated Communications by 6.8% in the 2nd quarter. Victory Capital Management Inc. now owns 53,074 shares of the utilities provider’s stock worth $372,000 after acquiring an additional 3,361 shares during the period. Institutional investors own 93.88% of the company’s stock.

Consolidated Communications Company Profile

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Consolidated Communications Holdings, Inc, together with its subsidiaries, provides broadband and business communication solutions for consumer, commercial, and carrier channels in the United States. It offers high-speed broadband Internet access and voice over Internet protocol (VoIP) phone services; commercial data connectivity services in various markets, including Ethernet services, private line data services, software defined wide area network, and multi-protocol label switching services; networking services; cloud-based services; data center and disaster recovery solutions; and wholesale services to regional and national interexchange, and wireless carriers comprising cellular backhaul and other fiber transport solutions.