Alaska Communications Systems Group, Inc. (ALSK) Receives Consensus Rating of “Strong Buy” from Brokerages

Shares of Alaska Communications Systems Group, Inc. (NASDAQ:ALSK) have been assigned an average broker rating score of 1.00 (Strong Buy) from the one analysts that cover the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy recommendation.

Analysts have set a 12-month consensus price objective of $2.90 for the company, according to Zacks. Zacks has also assigned Alaska Communications Systems Group an industry rank of 239 out of 265 based on the ratings given to its competitors.

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Several large investors have recently added to or reduced their stakes in ALSK. Gilder Gagnon Howe & Co. LLC bought a new stake in shares of Alaska Communications Systems Group in the 3rd quarter valued at $3,274,000. Dimensional Fund Advisors LP increased its stake in Alaska Communications Systems Group by 31.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 942,355 shares of the utilities provider’s stock valued at $2,073,000 after purchasing an additional 224,004 shares in the last quarter. Kennedy Capital Management Inc. increased its stake in Alaska Communications Systems Group by 51.3% during the 2nd quarter. Kennedy Capital Management Inc. now owns 646,053 shares of the utilities provider’s stock valued at $1,421,000 after purchasing an additional 219,061 shares in the last quarter. Municipal Employees Retirement System of Michigan bought a new stake in Alaska Communications Systems Group during the 2nd quarter valued at $392,000. Finally, Macquarie Group Ltd. bought a new stake in Alaska Communications Systems Group during the 3rd quarter valued at $369,000. Institutional investors own 44.51% of the company’s stock.

Alaska Communications Systems Group (NASDAQ:ALSK) traded down $0.01 during trading hours on Friday, hitting $2.18. 96,000 shares of the stock traded hands, compared to its average volume of 134,487. The company has a market cap of $112.76, a price-to-earnings ratio of 219.00 and a beta of -0.11. The company has a quick ratio of 0.94, a current ratio of 1.03 and a debt-to-equity ratio of 1.09. Alaska Communications Systems Group has a 12 month low of $1.50 and a 12 month high of $2.61.

Alaska Communications Systems Group Company Profile

Alaska Communications Systems Group, Inc is a fiber broadband and managed information technology (IT) services provider. The Company is focused primarily on business and wholesale customers in and out of Alaska. The Company also provides telecommunication services to consumers across Alaska. The Company’s facilities-based communications network extends across Alaska and connects to the contiguous states through its undersea fiber optic cable systems and its usage rights on an undersea system.

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