Raymond James slashes price target on GTT Communications Inc. [GTT] – find out why.

GTT Communications Inc. [NYSE: GTT] closed the trading session at $1.53 on 04/16/21. The day’s price range saw the stock hit a low of $1.52, while the highest price level was $1.72. The company report on April 7, 2021 that GTT Supports SGN’s Cloud Transformation with Managed Network and Security Services.

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GTT Communications, Inc. (NYSE: GTT), a leading global cloud networking provider to multinational clients, announced that SGN, owner of one of the UK’s largest gas distribution networks, has renewed and extended its agreement with GTT for cloud networking services. SGN distributes natural and green gas to 5.9 million homes and businesses across Scotland, southern England and Northern Ireland. GTT will continue to provide SGN with high-performance and resilient cloud connectivity, WAN and LAN services, and DDoS mitigation, as well as increase the scope of professional services delivered in support of its cloud transformation strategy.

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GTT has been a strategic partner to SGN since 2017. GTT’s high-performance network services enable SGN employees to securely connect with the automated and scalable multi-cloud environment supporting its business, whether working in the office, on-site or remotely. GTT’s professional services team provides expert guidance and management to help drive SGN’s cloud transformation strategy forward in collaboration with a variety of technology services providers.

The stocks have a year to date performance of -57.14 percent and weekly performance of -13.56 percent. The stock has been moved at -69.94 percent over the last six months. The stock has performed -27.14 percent around the most recent 30 days and changed -54.33 percent over the most recent 3-months.

If compared to the average trading volume of 4.64M shares, GTT reached to a volume of 2826203 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about GTT Communications Inc. [GTT]:

Raymond James have made an estimate for GTT Communications Inc. shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on August 11, 2020. The new note on the price target was released on May 26, 2020, representing the official price target for GTT Communications Inc. stock. Previously, the target price had yet another drop from $10 to $7, while SunTrust kept a Hold rating on GTT stock.

The Average True Range (ATR) for GTT Communications Inc. is set at 0.17, with the Price to Sales ratio for GTT stock in the period of the last 12 months amounting to 0.05. The Price to Book ratio for the last quarter was 0.45.

GTT stock trade performance evaluation

GTT Communications Inc. [GTT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -13.56. With this latest performance, GTT shares dropped by -27.14% in over the last four-week period, additionally sinking by -69.94% over the last 6 months – not to mention a drop of -83.44% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for GTT stock in for the last two-week period is set at 33.70, with the RSI for the last a single of trading hit 28.68, and the three-weeks RSI is set at 36.09 for GTT Communications Inc. [GTT]. The present Moving Average for the last 50 days of trading for this stock 2.3956, while it was recorded at 1.7260 for the last single week of trading, and 4.3243 for the last 200 days.

GTT Communications Inc. [GTT]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and GTT Communications Inc. [GTT] shares currently have an operating margin of +9.22 and a Gross Margin at +31.09. GTT Communications Inc.’s Net Margin is presently recorded at -6.13.

Return on Total Capital for GTT is now 4.22, given the latest momentum, and Return on Invested Capital for the company is -2.86. Return on Equity for this stock declined to -30.01, with Return on Assets sitting at -2.28. When it comes to the capital structure of this company, GTT Communications Inc. [GTT] has a Total Debt to Total Equity ratio set at 1,240.98. Additionally, GTT Total Debt to Total Capital is recorded at 92.54, with Total Debt to Total Assets ending up at 75.93. Long-Term Debt to Equity for the company is recorded at 1,203.30, with the Long-Term Debt to Total Capital now at 89.73.

Reflecting on the efficiency of the workforce at the company, GTT Communications Inc. [GTT] managed to generate an average of -$34,161 per employee. Receivables Turnover for the company is 9.88 with a Total Asset Turnover recorded at a value of 0.37.

Earnings per share (EPS) analysis for GTT Communications Inc. [GTT] stock

With the latest financial reports released by the company, GTT Communications Inc. posted -0.59/share EPS, while the average EPS was predicted by analysts to be reported at -0.04/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -1,375.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for GTT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for GTT Communications Inc. go to 25.00%.

GTT Communications Inc. [GTT]: Insider Ownership positions

There are presently around $59 million, or 56.56% of GTT stock, in the hands of institutional investors. The top three institutional holders of GTT stocks are: SPRUCE HOUSE INVESTMENT MANAGEMENT LLC with ownership of 15,875,000, which is approximately 0% of the company’s market cap and around 20.26% of the total institutional ownership; CONIFER MANAGEMENT, L.L.C., holding 5,209,971 shares of the stock with an approximate value of $7.97 million in GTT stocks shares; and NEUBERGER BERMAN GROUP LLC, currently with $7.35 million in GTT stock with ownership of nearly 9.97% of the company’s market capitalization.

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Positions in GTT Communications Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 37 institutional holders increased their position in GTT Communications Inc. [NYSE:GTT] by around 1,200,879 shares. Additionally, 39 investors decreased positions by around 2,974,296 shares, while 22 investors held positions by with 34,220,033 shares. The mentioned changes placed institutional holdings at 38,395,208 shares, according to the latest SEC report filing. GTT stock had 11 new institutional investments in for a total of 206,230 shares, while 17 institutional investors sold positions of 291,137 shares during the same period.

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