Altice USA Inc (ATUS) Rating Reiterated by Guggenheim

Altice USA Inc (NASDAQ:ATUS)‘s stock had its “neutral” rating reiterated by investment analysts at Guggenheim in a research report issued to clients and investors on Friday. They presently have a $31.00 target price on the stock. Guggenheim’s price target would indicate a potential upside of 13.55% from the stock’s previous close.

ATUS has been the subject of several other reports. Morgan Stanley assumed coverage on Altice USA in a report on Monday, July 17th. They set an “equal weight” rating and a $31.00 price target for the company. Goldman Sachs Group, Inc. (The) assumed coverage on Altice USA in a report on Monday, July 17th. They issued a “neutral” rating and a $33.00 target price for the company. Deutsche Bank AG assumed coverage on Altice USA in a report on Monday, July 17th. They issued a “buy” rating and a $36.00 target price for the company. Wells Fargo & Company assumed coverage on Altice USA in a report on Wednesday, July 26th. They issued a “market perform” rating and a $34.00 target price for the company. Finally, Pivotal Research assumed coverage on Altice USA in a report on Thursday, June 22nd. They issued a “buy” rating and a $38.00 target price for the company. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $35.92.

Altice USA (NASDAQ:ATUS) opened at 27.30 on Friday. The stock’s 50 day moving average is $30.77 and its 200 day moving average is $31.35. The stock’s market capitalization is $20.12 billion. Altice USA has a 12-month low of $27.27 and a 12-month high of $35.29.

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In other Altice USA news, Director Mark Mullen purchased 5,000 shares of the firm’s stock in a transaction on Tuesday, June 27th. The shares were purchased at an average cost of $30.00 per share, with a total value of $150,000.00. Following the purchase, the director now owns 5,000 shares in the company, valued at $150,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Bc European Capital Ix Ltd sold 36,197,360 shares of the firm’s stock in a transaction dated Tuesday, June 27th. The stock was sold at an average price of $29.01, for a total value of $1,050,085,413.60. The disclosure for this sale can be found here. In the last quarter, insiders have purchased 74,000 shares of company stock valued at $2,220,000.

A number of large investors have recently modified their holdings of the business. Canada Pension Plan Investment Board acquired a new position in shares of Altice USA in the 2nd quarter valued at about $1,296,928,000. Franklin Resources Inc. acquired a new position in shares of Altice USA in the 2nd quarter valued at about $69,443,000. Vanguard Group Inc. acquired a new position in shares of Altice USA in the 2nd quarter valued at about $67,939,000. Egerton Capital UK LLP acquired a new position in shares of Altice USA in the 2nd quarter valued at about $64,600,000. Finally, FMR LLC acquired a new position in shares of Altice USA in the 2nd quarter valued at about $57,079,000.

Altice USA Company Profile

Altice USA, Inc is engaged in providing broadband communications and video services in the United States. The Company’s segments include Cablevision and Cequel. Cablevision provides broadband, pay television and telephony services to residential and business customers in and around the New York metropolitan area.

Analyst Recommendations for Altice USA (NASDAQ:ATUS)

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