Altice USA (NYSE:ATUS) Upgraded to Outperform at Raymond James

Altice USA (NYSE:ATUS) was upgraded by stock analysts at Raymond James from a “market perform” rating to an “outperform” rating in a research report issued on Tuesday,Briefing.com Automated Import reports. The firm presently has a $3.50 price objective on the stock. Raymond James’ price objective points to a potential upside of 23.46% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. Citigroup increased their price target on shares of Altice USA from $2.50 to $3.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. TD Cowen decreased their price objective on Altice USA from $6.00 to $3.50 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Five equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Altice USA currently has a consensus rating of “Hold” and a consensus target price of $2.41.

Altice USA Stock Up 3.8 %

Shares of Altice USA stock opened at $2.84 on Tuesday. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of -7.66 and a beta of 1.52. The stock’s 50-day simple moving average is $2.66 and its 200-day simple moving average is $2.39. Altice USA has a 52 week low of $1.52 and a 52 week high of $3.20.

Altice USA (NYSE:ATUS) last announced its quarterly earnings results on Thursday, February 13th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.16). On average, equities analysts expect that Altice USA will post -0.06 earnings per share for the current year.

Insider Activity at Altice USA

In other Altice USA news, Director Alt S.A.R.L. Next sold 805,227 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $24.50, for a total value of $19,728,061.50. Following the sale, the director now directly owns 19,535,550 shares of the company’s stock, valued at approximately $478,620,975. This trade represents a 3.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last quarter, insiders have sold 8,052,288 shares of company stock worth $197,281,056. 52.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. LPL Financial LLC acquired a new stake in shares of Altice USA in the fourth quarter valued at about $25,000. Quadrature Capital Ltd purchased a new position in Altice USA in the 3rd quarter valued at about $27,000. Raymond James Financial Inc. acquired a new stake in Altice USA in the 4th quarter worth about $30,000. D.A. Davidson & CO. purchased a new stake in Altice USA during the 3rd quarter worth approximately $32,000. Finally, Wolverine Trading LLC purchased a new stake in Altice USA during the 3rd quarter worth approximately $39,000. Hedge funds and other institutional investors own 54.85% of the company’s stock.

Altice USA Company Profile

Altice USA, Inc, together with its subsidiaries, provides broadband communications and video services in the United States, Canada, Puerto Rico, and the Virgin Islands. It offers broadband, video, telephony, and mobile services to residential and business customers. The company's video services include delivery of broadcast stations and cable networks; over the top services; video-on-demand, high-definition channels, digital video recorder, and pay-per-view services; and platforms for video programming through mobile applications.