Cogent Communications Holdings, Inc. (NASDAQ:CCOI) had its price target raised by BTIG Research from $43.00 to $50.00 in a research report released on Friday. They currently have a buy rating on the stock.
Other research analysts also recently issued research reports about the company. Stifel Nicolaus started coverage on Cogent Communications Holdings in a report on Friday, January 13th. They issued a buy rating and a $48.00 target price on the stock. SunTrust Banks, Inc. started coverage on Cogent Communications Holdings in a report on Monday, December 12th. They issued a buy rating and a $43.00 target price on the stock. TheStreet raised Cogent Communications Holdings from a hold rating to a buy rating in a report on Friday, November 25th. Zacks Investment Research raised Cogent Communications Holdings from a sell rating to a hold rating in a report on Monday, November 7th. Finally, J P Morgan Chase & Co started coverage on Cogent Communications Holdings in a report on Monday, September 26th. They issued a neutral rating on the stock. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the stock. Cogent Communications Holdings presently has an average rating of Hold and an average target price of $44.50.
Cogent Communications Holdings (NASDAQ:CCOI) opened at 42.15 on Friday. The stock has a market cap of $1.88 billion, a price-to-earnings ratio of 139.11 and a beta of 0.84. Cogent Communications Holdings has a one year low of $30.46 and a one year high of $43.61. The stock’s 50 day moving average price is $40.66 and its 200 day moving average price is $38.64.
Cogent Communications Holdings (NASDAQ:CCOI) last announced its quarterly earnings results on Thursday, November 3rd. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by $0.02. The business had revenue of $113.10 million for the quarter, compared to the consensus estimate of $113.25 million. Cogent Communications Holdings had a net margin of 3.10% and a negative return on equity of 53.79%. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.07 earnings per share. Equities analysts predict that Cogent Communications Holdings will post $0.37 earnings per share for the current fiscal year.
In other Cogent Communications Holdings news, VP Raymond B. Kummer sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 4th. The stock was sold at an average price of $42.53, for a total transaction of $42,530.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Thaddeus Gerard Weed sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 7th. The shares were sold at an average price of $37.91, for a total value of $189,550.00. The disclosure for this sale can be found here. Company insiders own 9.17% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. FIL Ltd purchased a new position in Cogent Communications Holdings during the second quarter valued at $25,122,000. Vanguard Group Inc. boosted its position in shares of Cogent Communications Holdings by 9.8% in the second quarter. Vanguard Group Inc. now owns 4,450,687 shares of the company’s stock worth $178,294,000 after buying an additional 398,327 shares during the period. D. E. Shaw & Co. Inc. bought a new position in shares of Cogent Communications Holdings during the third quarter worth approximately $13,096,000. State of New Jersey Common Pension Fund D boosted its position in shares of Cogent Communications Holdings by 51.9% in the third quarter. State of New Jersey Common Pension Fund D now owns 820,000 shares of the company’s stock worth $30,184,000 after buying an additional 280,000 shares during the period. Finally, Emerald Mutual Fund Advisers Trust bought a new position in shares of Cogent Communications Holdings during the third quarter worth approximately $9,454,000. Institutional investors and hedge funds own 97.08% of the company’s stock.
About Cogent Communications Holdings
Cogent Communications Holdings, Inc is a facilities-based provider of Internet access and Internet Protocol (IP), communications services. The Company’s network is specifically designed and optimized to transmit data using IP. The Company delivers its services primarily to small and medium-sized businesses, communications service providers and other bandwidth-intensive organizations in North America, Europe and in Japan.