Cogeco (TSE:CGO) Share Price Crosses Above Fifty Day Moving Average – Here’s What Happened

Cogeco Inc. (TSE:CGO) passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of C$56.50 and traded as high as C$60.79. Cogeco shares last traded at C$60.75, with a volume of 38,695 shares traded.

Analyst Ratings Changes

CGO has been the subject of several recent research reports. TD Securities upped their target price on Cogeco from C$99.00 to C$104.00 in a report on Monday, November 4th. Canaccord Genuity Group upgraded Cogeco from a “hold” rating to a “buy” rating and upped their price objective for the stock from C$65.00 to C$77.00 in a research note on Monday, November 4th. Finally, CIBC dropped their target price on Cogeco from C$67.00 to C$64.00 in a research report on Wednesday, January 15th.

Cogeco Stock Up 0.7 %

The stock has a market capitalization of C$576.74 million, a P/E ratio of 6.25, a PEG ratio of -0.28 and a beta of 0.34. The stock’s fifty day moving average is C$56.50 and its two-hundred day moving average is C$57.87. The company has a debt-to-equity ratio of 605.15, a current ratio of 0.40 and a quick ratio of 0.51.

About Cogeco

Cogeco Inc is a telecommunications company. The company has two reportable operating segments, namely Canadian broadband services and American broadband services. The Canadian and American broadband services segments provide a wide range of Internet, video, and telephony services primarily to residential customers, as well as business services across their coverage areas.