Altice USA Inc (ATUS) Earns Outperform Rating from Analysts at Royal Bank Of Canada

Stock analysts at Royal Bank Of Canada began coverage on shares of Altice USA Inc (NASDAQ:ATUS) in a note issued to investors on Monday, July 17th, MarketBeat.com reports. The firm set an “outperform” rating and a $40.00 price target on the stock. Royal Bank Of Canada’s price objective would indicate a potential upside of 28.70% from the company’s previous close.

Several other equities research analysts have also recently commented on ATUS. Pivotal Research started coverage on shares of Altice USA in a research report on Thursday, June 22nd. They set a “buy” rating and a $38.00 price target for the company. Guggenheim started coverage on shares of Altice USA in a research report on Wednesday, July 12th. They set a “buy” rating and a $38.00 price target for the company. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $36.42.

Shares of Altice USA (NASDAQ:ATUS) opened at 31.08 on Monday. Altice USA has a 1-year low of $30.66 and a 1-year high of $35.29. The company’s 50-day moving average is $32.28 and its 200 day moving average is $32.28. The firm’s market capitalization is $20.49 billion.

ILLEGAL ACTIVITY NOTICE: “[[title]]” was published by [[site]] and is the property of of [[site]]. If you are reading this piece of content on another site, it was illegally stolen and republished in violation of U.S. & international copyright laws. The legal version of this piece of content can be viewed at [[permalink]].

In other news, Vice Chairman Lisa Rosenblum acquired 3,000 shares of Altice USA stock in a transaction that occurred on Tuesday, June 27th. The shares were acquired at an average price of $30.00 per share, with a total value of $90,000.00. Following the purchase, the insider now directly owns 18,751 shares of the company’s stock, valued at $562,530. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Mark Mullen acquired 5,000 shares of Altice USA stock in a transaction that occurred on Tuesday, June 27th. The shares were purchased at an average cost of $30.00 per share, for a total transaction of $150,000.00. Following the purchase, the director now directly owns 5,000 shares in the company, valued at $150,000. The disclosure for this purchase can be found here. Insiders have purchased a total of 74,000 shares of company stock worth $2,220,000 in the last three months.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC bought a new position in shares of Altice USA during the second quarter worth $666,000. LMR Partners LLP bought a new position in shares of Altice USA during the second quarter worth $1,776,000. Canada Pension Plan Investment Board bought a new position in shares of Altice USA during the second quarter worth $1,296,928,000. TD Asset Management Inc. bought a new position in shares of Altice USA during the second quarter worth $656,000. Finally, Sei Investments Co. bought a new position in shares of Altice USA during the second quarter worth $4,370,000.

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.