Shares of GTT Communications Inc (NYSE:GTT) have received a consensus rating of “Hold” from the nine brokerages that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $17.50.

Several research firms have recently issued reports on GTT. Cowen cut GTT Communications from an “outperform” rating to a “market perform” rating and set a $10.00 price objective for the company. in a research report on Monday, November 25th. ValuEngine raised GTT Communications from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 4th.

GTT traded down $0.70 on Friday, hitting $12.72. 314,800 shares of the company were exchanged, compared to its average volume of 503,616. GTT Communications has a twelve month low of $4.67 and a twelve month high of $43.35. The company has a market cap of $727.97 million, a price-to-earnings ratio of -5.09 and a beta of 1.55. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 12.59. The firm has a 50-day moving average price of $12.46 and a two-hundred day moving average price of $9.71.

GTT Communications (NYSE:GTT) last released its quarterly earnings data on Tuesday, November 12th. The technology company reported ($0.46) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.21) by ($0.25). The business had revenue of $420.00 million for the quarter, compared to analyst estimates of $425.70 million. GTT Communications had a negative return on equity of 13.24% and a negative net margin of 7.95%. The company’s revenue was down 6.4% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.43) earnings per share. Equities analysts expect that GTT Communications will post -1.75 EPS for the current year.

In other news, Director H Brian Thompson bought 25,000 shares of GTT Communications stock in a transaction dated Tuesday, November 26th. The stock was acquired at an average cost of $6.32 per share, with a total value of $158,000.00. Following the acquisition, the director now owns 617,621 shares of the company’s stock, valued at $3,903,364.72. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Spruce House Partnership Lp bought 187,300 shares of GTT Communications stock in a transaction dated Monday, December 2nd. The stock was purchased at an average cost of $8.88 per share, with a total value of $1,663,224.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 1,536,800 shares of company stock valued at $16,400,520. Insiders own 40.84% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Bank of Montreal Can raised its stake in GTT Communications by 34.1% during the 4th quarter. Bank of Montreal Can now owns 4,340 shares of the technology company’s stock valued at $49,000 after acquiring an additional 1,103 shares during the last quarter. Granahan Investment Management Inc. MA raised its stake in GTT Communications by 3.4% during the 3rd quarter. Granahan Investment Management Inc. MA now owns 81,627 shares of the technology company’s stock valued at $769,000 after acquiring an additional 2,690 shares during the last quarter. UBS Group AG raised its stake in GTT Communications by 3.2% during the 4th quarter. UBS Group AG now owns 97,666 shares of the technology company’s stock valued at $1,109,000 after acquiring an additional 3,004 shares during the last quarter. Swiss National Bank raised its stake in GTT Communications by 5.9% during the 4th quarter. Swiss National Bank now owns 59,300 shares of the technology company’s stock valued at $673,000 after acquiring an additional 3,300 shares during the last quarter. Finally, California Public Employees Retirement System raised its stake in GTT Communications by 6.8% during the 4th quarter. California Public Employees Retirement System now owns 63,000 shares of the technology company’s stock valued at $715,000 after acquiring an additional 4,000 shares during the last quarter. 70.78% of the stock is owned by institutional investors and hedge funds.

About GTT Communications

GTT Communications, Inc provides cloud networking services to multinational enterprises, carriers, and government customers in the United States, Europe, and internationally. The company offers private, public, and hybrid cloud network solutions; high bandwidth-Internet connectivity and IP transit, as well as broadband and wireless Internet access services; managed equipment, security, and hosting services; and voice services consisting of session initiation protocol trunking and hosted private branch exchange services.

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Analyst Recommendations for GTT Communications (NYSE:GTT)

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