UBS Group Upgrades Cogent Communications (NASDAQ:CCOI) to “Strong-Buy”

Cogent Communications (NASDAQ:CCOI) was upgraded by investment analysts at UBS Group to a “strong-buy” rating in a report issued on Wednesday,Zacks.com reports.

A number of other equities research analysts have also recently issued reports on the stock. KeyCorp upped their price objective on shares of Cogent Communications from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Tuesday, August 27th. TD Cowen increased their price objective on Cogent Communications from $78.00 to $82.00 and gave the company a “buy” rating in a report on Friday, August 9th. JPMorgan Chase & Co. raised their price objective on Cogent Communications from $70.00 to $76.00 and gave the company a “neutral” rating in a research note on Monday, August 12th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $74.00 target price on shares of Cogent Communications in a research report on Tuesday, September 3rd. Finally, The Goldman Sachs Group lifted their price target on shares of Cogent Communications from $62.00 to $71.00 and gave the company a “neutral” rating in a research report on Friday, October 4th. Two analysts have rated the stock with a sell rating, two have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Cogent Communications has a consensus rating of “Hold” and a consensus target price of $80.25.

Cogent Communications Stock Down 1.1 %

Cogent Communications stock opened at $77.81 on Wednesday. Cogent Communications has a twelve month low of $50.80 and a twelve month high of $86.76. The firm’s 50 day moving average price is $78.08 and its two-hundred day moving average price is $68.02. The company has a debt-to-equity ratio of 5.87, a quick ratio of 2.03 and a current ratio of 2.03. The firm has a market cap of $3.81 billion, a PE ratio of 99.76 and a beta of 0.40.

Cogent Communications (NASDAQ:CCOI) last released its quarterly earnings data on Thursday, November 7th. The technology company reported ($1.33) EPS for the quarter, topping analysts’ consensus estimates of ($1.34) by $0.01. The firm had revenue of $257.20 million for the quarter, compared to the consensus estimate of $258.69 million. Cogent Communications had a negative return on equity of 36.31% and a net margin of 3.73%. The firm’s revenue was down 6.6% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.13) earnings per share. On average, research analysts predict that Cogent Communications will post -4.54 EPS for the current fiscal year.

Insider Buying and Selling at Cogent Communications

In other Cogent Communications news, CEO Dave Schaeffer sold 60,000 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $72.82, for a total value of $4,369,200.00. Following the sale, the chief executive officer now owns 4,373,038 shares of the company’s stock, valued at $318,444,627.16. The trade was a 1.35 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP John B. Chang sold 1,400 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $71.67, for a total transaction of $100,338.00. Following the transaction, the vice president now owns 71,580 shares of the company’s stock, valued at approximately $5,130,138.60. This represents a 1.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 68,500 shares of company stock valued at $5,008,175 in the last ninety days. Company insiders own 11.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. EntryPoint Capital LLC acquired a new stake in shares of Cogent Communications in the first quarter valued at $26,000. Blue Trust Inc. grew its holdings in Cogent Communications by 204.5% during the 3rd quarter. Blue Trust Inc. now owns 405 shares of the technology company’s stock worth $31,000 after acquiring an additional 272 shares during the last quarter. Hexagon Capital Partners LLC increased its position in Cogent Communications by 72.9% in the 3rd quarter. Hexagon Capital Partners LLC now owns 536 shares of the technology company’s stock valued at $41,000 after acquiring an additional 226 shares in the last quarter. Quest Partners LLC bought a new position in shares of Cogent Communications in the third quarter worth about $46,000. Finally, GAMMA Investing LLC raised its position in Cogent Communications by 207.0% in the 3rd quarter. GAMMA Investing LLC now owns 660 shares of the technology company’s stock worth $50,000 after purchasing an additional 445 shares during the last quarter. Institutional investors own 92.45% of the company’s stock.

About Cogent Communications

Cogent Communications Holdings, Inc, through its subsidiaries, provides high-speed Internet access, private network, and data center colocation space services in North America, Europe, Oceania, South America, and Africa. The company offers on-net Internet access and private network services to law firms, financial services firms, and advertising and marketing firms, as well as heath care providers, educational institutions and other professional services businesses, other Internet service providers, telephone companies, cable television companies, web hosting companies, media service providers, mobile phone operators, content delivery network companies, and commercial content and application service providers.