Charter Communications (NASDAQ:CHTR) Stock Rating Upgraded by Zacks Research

Charter Communications (NASDAQ:CHTR) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Tuesday,Zacks.com reports.

Several other research firms have also recently commented on CHTR. Deutsche Bank Aktiengesellschaft lowered their target price on Charter Communications from $235.00 to $215.00 and set a “hold” rating for the company in a research note on Monday, April 27th. Bank of America reiterated a “buy” rating on shares of Charter Communications in a research note on Monday, July 27th. BNP Paribas Exane lowered their price objective on Charter Communications from $150.00 to $120.00 and set an “underperform” rating for the company in a research report on Tuesday, July 14th. Citigroup cut their target price on shares of Charter Communications from $190.00 to $180.00 and set a “buy” rating on the stock in a research note on Tuesday, July 28th. Finally, Wells Fargo & Company reduced their target price on shares of Charter Communications from $160.00 to $101.00 and set an “underweight” rating on the stock in a report on Monday, July 27th. Five analysts have rated the stock with a Buy rating, nine have given a Hold rating and five have given a Sell rating to the company. According to MarketBeat, Charter Communications currently has an average rating of “Hold” and an average target price of $226.88.

Charter Communications Price Performance

Charter Communications stock opened at $153.17 on Tuesday. The firm has a market cap of $18.27 billion, a PE ratio of 3.98, a price-to-earnings-growth ratio of 0.25 and a beta of 0.70. Charter Communications has a 52-week low of $111.55 and a 52-week high of $285.82. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 4.32. The company’s 50 day moving average is $135.93 and its two-hundred day moving average is $180.41.

Charter Communications (NASDAQ:CHTR) last issued its quarterly earnings results on Friday, July 24th. The company reported $10.66 EPS for the quarter, beating the consensus estimate of $9.98 by $0.68. Charter Communications had a net margin of 9.05% and a return on equity of 23.71%. The company had revenue of $13.53 billion during the quarter, compared to analysts’ expectations of $13.51 billion. During the same quarter last year, the company posted $9.18 EPS. The firm’s revenue was down 1.7% compared to the same quarter last year. On average, research analysts expect that Charter Communications will post 42.72 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Mauricio Ramos acquired 9,929 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The stock was purchased at an average cost of $140.93 per share, for a total transaction of $1,399,293.97. Following the transaction, the director directly owned 19,309 shares of the company’s stock, valued at approximately $2,721,217.37. This trade represents a 105.85% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas Rutledge sold 69,633 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $144.45, for a total transaction of $10,058,486.85. Following the sale, the director directly owned 3,968 shares in the company, valued at $573,177.60. This represents a 94.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Charter Communications

Hedge funds have recently made changes to their positions in the stock. Advisory Services Network LLC grew its position in shares of Charter Communications by 3.8% during the second quarter. Advisory Services Network LLC now owns 1,028 shares of the company’s stock worth $420,000 after buying an additional 38 shares in the last quarter. Occudo Quantitative Strategies LP boosted its stake in Charter Communications by 1.4% during the 2nd quarter. Occudo Quantitative Strategies LP now owns 3,069 shares of the company’s stock valued at $1,255,000 after acquiring an additional 41 shares during the last quarter. Orion Porfolio Solutions LLC grew its holdings in Charter Communications by 1.7% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 2,417 shares of the company’s stock worth $988,000 after acquiring an additional 41 shares in the last quarter. Pure Financial Advisors LLC grew its holdings in Charter Communications by 4.1% during the 4th quarter. Pure Financial Advisors LLC now owns 1,116 shares of the company’s stock worth $233,000 after acquiring an additional 44 shares in the last quarter. Finally, Integrated Wealth Concepts LLC increased its position in shares of Charter Communications by 3.6% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 1,426 shares of the company’s stock worth $392,000 after purchasing an additional 49 shares during the last quarter. Institutional investors and hedge funds own 81.76% of the company’s stock.

About Charter Communications

Charter Communications, Inc is a U.S.-based telecommunications and mass media company that provides broadband communications and video services to residential and business customers. Operating primarily under the Spectrum brand, the company offers high-speed internet, cable television, digital voice (phone) and wireless services, as well as managed and enterprise networking solutions for commercial customers. Charter’s service portfolio targets both consumer and business markets with bundled and standalone offerings designed to meet streaming, connectivity and communications needs.

The company’s consumer-facing products include Spectrum Internet, Spectrum TV and Spectrum Voice, while Spectrum Mobile provides wireless service through arrangements with national wireless carriers.