Cogeco Communications (TSE:CCA) Hits New 52-Week High – Here’s What Happened

Shares of Cogeco Communications Inc. (TSE:CCA) reached a new 52-week high on Thursday . The company traded as high as C$71.72 and last traded at C$71.10, with a volume of 1541 shares. The stock had previously closed at C$71.04.

Analyst Ratings Changes

CCA has been the subject of a number of research reports. Royal Bank of Canada raised their price objective on Cogeco Communications from C$76.00 to C$79.00 in a research note on Thursday, October 10th. National Bank Financial upgraded shares of Cogeco Communications from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 19th. National Bankshares raised shares of Cogeco Communications from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from C$64.00 to C$80.00 in a research note on Friday, September 20th. BMO Capital Markets boosted their target price on shares of Cogeco Communications from C$65.00 to C$70.00 in a research report on Thursday, September 5th. Finally, Bank of America upgraded shares of Cogeco Communications from an “underperform” rating to a “buy” rating and upped their target price for the stock from C$60.00 to C$65.00 in a report on Wednesday, July 17th. Six equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$71.61.

Cogeco Communications Price Performance

The stock has a market cap of C$2.13 billion, a P/E ratio of 9.05, a P/E/G ratio of 4.77 and a beta of 0.59. The business has a 50 day simple moving average of C$67.04 and a 200-day simple moving average of C$59.82. The company has a debt-to-equity ratio of 142.88, a quick ratio of 0.49 and a current ratio of 0.41.

Cogeco Communications Company Profile

Cogeco Communications Inc operates as a telecommunications corporation in Canada and the United States. It operates in two segments, Canadian Telecommunications and American Telecommunications. The company offers Internet, video, and Internet protocol (IP) based telephony services to residential and small business customers through its two-way broadband fiber networks.