Altice USA (NYSE:ATUS) Stock Rating Upgraded by Raymond James

Altice USA (NYSE:ATUS) was upgraded by investment analysts at Raymond James from a “market perform” rating to an “outperform” rating in a research report issued on Tuesday, MarketBeat.com reports. The brokerage presently has a $3.50 price objective on the stock. Raymond James’ target price would suggest a potential upside of 22.16% from the company’s current price.

Other equities analysts also recently issued research reports about the company. TD Cowen reduced 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. Citigroup lifted their price objective on Altice USA from $2.50 to $3.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Five investment analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $2.41.

Altice USA Price Performance

Shares of NYSE:ATUS opened at $2.87 on Tuesday. Altice USA has a 1 year low of $1.52 and a 1 year high of $3.20. The firm has a market capitalization of $1.32 billion, a PE ratio of -12.46 and a beta of 1.52. The business’s 50 day moving average price is $2.67 and its 200-day moving average price is $2.40.

Altice USA (NYSE:ATUS) last announced its quarterly earnings data on Thursday, February 13th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.16). As a group, analysts expect that Altice USA will post -0.05 earnings per share for the current year.

Insider Buying and Selling at Altice USA

In related news, Director Alt S.A.R.L. Next sold 805,230 shares of the business’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $24.50, for a total value of $19,728,135.00. Following the sale, the director now owns 6,651,882 shares in the company, valued at approximately $162,971,109. The trade was a 10.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 8,052,288 shares of company stock worth $197,281,056 over the last quarter. 52.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. LPL Financial LLC acquired a new position in shares of Altice USA during the 4th quarter worth about $25,000. Quadrature Capital Ltd acquired a new position in shares of Altice USA during the 3rd quarter worth about $27,000. Raymond James Financial Inc. acquired a new position in shares of Altice USA during the 4th quarter worth about $30,000. D.A. Davidson & CO. acquired a new position in shares of Altice USA during the 3rd quarter worth about $32,000. Finally, Wolverine Trading LLC acquired a new position in shares of Altice USA during the 3rd quarter worth about $39,000. 54.85% of the stock is owned by institutional investors and hedge funds.

About Altice USA

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.