Cogeco Communications (TSE:CCA) Hits New 52-Week High - Here's Why

Cogeco Communications Inc. (TSE:CCA - Get Free Report)'s share price hit a new 52-week high on Thursday . The company traded as high as C$72.40 and last traded at C$71.99, with a volume of 10703 shares trading hands. The stock had previously closed at C$71.85.

Analysts Set New Price Targets

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

Cogeco Communications Trading Down 0.4 %

The company has a debt-to-equity ratio of 142.88, a current ratio of 0.41 and a quick ratio of 0.49. The firm has a market cap of C$2.15 billion, a price-to-earnings ratio of 9.13, a price-to-earnings-growth ratio of 4.77 and a beta of 0.59. The firm's fifty day moving average is C$67.43 and its 200-day moving average is C$60.06.

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.