Sprint Corp (S) Receives $5.90 Average Target Price from Brokerages
Shares of Sprint Corp (NYSE:S) have been assigned a consensus recommendation of “Hold” from the twenty-five brokerages that are currently covering the company, MarketBeat.com reports. Nine equities research analysts have rated the stock with a sell recommendation, twelve have given a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $5.94.
S has been the subject of a number of research reports. Vetr downgraded Sprint from a “strong-buy” rating to a “buy” rating and set a $7.10 price objective for the company. in a report on Thursday, November 2nd. UBS Group reiterated a “buy” rating and issued a $7.50 price objective (down previously from $9.00) on shares of Sprint in a report on Monday, November 6th. TheStreet upgraded Sprint from a “d+” rating to a “c” rating in a report on Friday, February 2nd. Macquarie reiterated a “hold” rating and issued a $6.50 price objective on shares of Sprint in a report on Tuesday, November 7th. Finally, Royal Bank of Canada reiterated a “hold” rating and issued a $8.00 price objective on shares of Sprint in a report on Tuesday, November 7th.
Sprint (NYSE:S) traded down $0.03 on Wednesday, reaching $5.27. The company’s stock had a trading volume of 7,368,459 shares, compared to its average volume of 19,370,000. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.92. The company has a market capitalization of $21,100.00, a P/E ratio of 3.05 and a beta of 0.64. Sprint has a twelve month low of $4.91 and a twelve month high of $9.44.
In other Sprint news, major shareholder Group Corp Softbank acquired 6,149,090 shares of the company’s stock in a transaction that occurred on Tuesday, January 16th. The shares were bought at an average cost of $5.68 per share, with a total value of $34,926,831.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Paul W. Schieber, Jr. sold 144,041 shares of the stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $5.74, for a total value of $826,795.34. Following the sale, the vice president now directly owns 204,168 shares in the company, valued at $1,171,924.32. The disclosure for this sale can be found here. Over the last three months, insiders bought 58,397,765 shares of company stock worth $336,943,820 and sold 549,707 shares worth $3,196,239. Corporate insiders own 0.18% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Commerce Bank purchased a new stake in shares of Sprint during the third quarter valued at $100,000. BancorpSouth Bank purchased a new position in Sprint in the fourth quarter worth about $104,000. Crossmark Global Holdings Inc. purchased a new position in Sprint in the third quarter worth about $141,000. Americafirst Capital Management LLC purchased a new position in Sprint in the third quarter worth about $156,000. Finally, Capital Bank & Trust Co boosted its position in Sprint by 10,821.7% in the third quarter. Capital Bank & Trust Co now owns 21,625 shares of the cell phone carrier’s stock worth $168,000 after purchasing an additional 21,427 shares during the last quarter. 13.77% of the stock is currently owned by institutional investors.
Sprint Corporation (Sprint) is a holding company. The Company, along with its subsidiaries, is a communications company offering a range of wireless and wireline communications products and services that are designed to meet the needs of consumers, businesses, government subscribers and resellers. It operates through two segments: Wireless and Wireline.
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