Consolidated Communications (CNSL) Upgraded to Buy by Drexel Hamilton

Consolidated Communications (NASDAQ:CNSL) was upgraded by investment analysts at Drexel Hamilton from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The analysts noted that the move was a valuation call.

CNSL has been the topic of a number of other reports. Jefferies Group lowered their price target on Consolidated Communications from $21.00 to $19.00 and set a “hold” rating on the stock in a research note on Friday, November 3rd. Cowen reaffirmed a “hold” rating and issued a $21.00 price target on shares of Consolidated Communications in a research note on Thursday, October 19th. Zacks Investment Research lowered Consolidated Communications from a “hold” rating to a “sell” rating in a research note on Tuesday, November 7th. Finally, ValuEngine lowered Consolidated Communications from a “hold” rating to a “sell” rating in a research note on Sunday. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company. Consolidated Communications presently has an average rating of “Buy” and a consensus target price of $22.00.

Shares of Consolidated Communications (NASDAQ:CNSL) opened at $12.19 on Tuesday. The company has a debt-to-equity ratio of 4.61, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a market capitalization of $863.49, a P/E ratio of -22.57, a PEG ratio of 21.96 and a beta of 0.74. Consolidated Communications has a 12 month low of $12.07 and a 12 month high of $27.88.

In related news, Director Robert J. Currey acquired 5,000 shares of the stock in a transaction on Tuesday, November 14th. The shares were bought at an average price of $13.43 per share, with a total value of $67,150.00. Following the completion of the purchase, the director now owns 45,995 shares of the company’s stock, valued at approximately $617,712.85. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas A. Gerke acquired 6,850 shares of the stock in a transaction on Tuesday, November 7th. The shares were bought at an average cost of $14.63 per share, for a total transaction of $100,215.50. Following the purchase, the director now directly owns 12,667 shares of the company’s stock, valued at approximately $185,318.21. The disclosure for this purchase can be found here. Insiders have acquired 17,550 shares of company stock worth $247,203 in the last three months. 3.00% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new position in Consolidated Communications during the second quarter worth $127,000. QS Investors LLC boosted its stake in Consolidated Communications by 17,467.6% during the second quarter. QS Investors LLC now owns 6,500 shares of the utilities provider’s stock worth $140,000 after buying an additional 6,463 shares during the last quarter. Advisor Group Inc. boosted its stake in Consolidated Communications by 28.7% during the second quarter. Advisor Group Inc. now owns 8,268 shares of the utilities provider’s stock worth $167,000 after buying an additional 1,846 shares during the last quarter. Crossmark Global Holdings Inc. acquired a new position in Consolidated Communications during the third quarter worth $194,000. Finally, Piedmont Investment Advisors LLC purchased a new stake in Consolidated Communications in the second quarter valued at $236,000. 70.79% of the stock is currently owned by institutional investors.

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About Consolidated Communications

Consolidated Communications Holdings, Inc is a holding company with operating subsidiaries that provide integrated communications services in consumer, commercial and carrier channels in California, Illinois, Iowa, Kansas, Minnesota, Missouri, North Dakota, Pennsylvania, South Dakota, Texas and Wisconsin.

Analyst Recommendations for Consolidated Communications (NASDAQ:CNSL)

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