Charter Communications (NASDAQ:CHTR) Stock Rating Upgraded by Bank of America

Charter Communications (NASDAQ:CHTR) was upgraded by research analysts at Bank of America from a “neutral” rating to a “buy” rating in a report released on Monday, MarketBeat Ratings reports. The firm presently has a $450.00 price objective on the stock, up from their prior price objective of $385.00. Bank of America‘s price target suggests a potential upside of 17.68% from the company’s previous close.

A number of other analysts have also weighed in on CHTR. Morgan Stanley upped their target price on shares of Charter Communications from $330.00 to $360.00 and gave the stock an “equal weight” rating in a research note on Monday, July 29th. Rosenblatt Securities raised their price objective on shares of Charter Communications from $292.00 to $329.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Barclays lifted their price objective on shares of Charter Communications from $250.00 to $300.00 and gave the stock an “underweight” rating in a research report on Monday, July 29th. Raymond James lowered Charter Communications from a “market perform” rating to an “underperform” rating in a report on Monday, July 29th. Finally, JPMorgan Chase & Co. lifted their price target on Charter Communications from $300.00 to $385.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Charter Communications presently has an average rating of “Hold” and a consensus target price of $379.06.

Charter Communications Stock Performance

Shares of CHTR stock opened at $382.38 on Monday. The firm has a 50 day moving average of $333.90 and a two-hundred day moving average of $314.01. The stock has a market capitalization of $54.58 billion, a PE ratio of 11.98, a P/E/G ratio of 0.66 and a beta of 1.03. The company has a quick ratio of 0.39, a current ratio of 0.34 and a debt-to-equity ratio of 5.24. Charter Communications has a 52 week low of $236.08 and a 52 week high of $422.92.

Charter Communications (NASDAQ:CHTR) last released its earnings results on Friday, November 1st. The company reported $8.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.55 by $0.27. Charter Communications had a return on equity of 28.73% and a net margin of 8.52%. The firm had revenue of $13.80 billion during the quarter, compared to analyst estimates of $13.66 billion. During the same period last year, the business posted $8.25 earnings per share. Charter Communications’s revenue was up 1.6% compared to the same quarter last year. On average, research analysts predict that Charter Communications will post 32.51 EPS for the current fiscal year.

Institutional Investors Weigh In On Charter Communications

Institutional investors and hedge funds have recently made changes to their positions in the business. Reston Wealth Management LLC purchased a new position in shares of Charter Communications during the third quarter worth about $26,000. Ashton Thomas Securities LLC purchased a new position in shares of Charter Communications in the 3rd quarter valued at approximately $28,000. CVA Family Office LLC increased its holdings in shares of Charter Communications by 5,500.0% in the second quarter. CVA Family Office LLC now owns 112 shares of the company’s stock valued at $33,000 after purchasing an additional 110 shares during the period. New Covenant Trust Company N.A. purchased a new stake in shares of Charter Communications during the first quarter worth approximately $34,000. Finally, Grove Bank & Trust lifted its holdings in shares of Charter Communications by 39.1% during the third quarter. Grove Bank & Trust now owns 121 shares of the company’s stock worth $39,000 after purchasing an additional 34 shares during the period. 81.76% of the stock is owned by hedge funds and other institutional investors.

Charter Communications Company Profile

Charter Communications, Inc operates as a broadband connectivity and cable operator company serving residential and commercial customers in the United States. The company offers subscription-based internet, video, and mobile and voice services; a suite of broadband connectivity services, including fixed internet, WiFi, and mobile; Advanced WiFi services; Spectrum Security Shield; in-home WiFi, which provides customers with high performance wireless routers and managed WiFi services to enhance their fixed wireless internet experience; out-of-home WiFi; and Spectrum WiFi services.