Cogeco (CGO) Shares Down 3.3% on Analyst Downgrade

Shares of Cogeco Inc. (TSE:CGO) were down 3.3% on Friday after Barclays lowered their price target on the stock from C$82.00 to C$75.00. The company traded as low as C$85.08 and last traded at C$85.43. Approximately 57,335 shares traded hands during mid-day trading, an increase of 103% from the average daily volume of 28,217 shares. The stock had previously closed at C$88.34.

Other analysts have also issued reports about the company. CIBC lowered their target price on Cogeco from C$90.00 to C$86.00 in a research note on Friday. TD Securities lowered their target price on Cogeco from C$97.00 to C$96.00 in a research note on Friday.

In related news, insider Diane Nyisztor sold 713 shares of Cogeco stock in a transaction dated Monday, November 13th. The stock was sold at an average price of C$86.93, for a total value of C$61,981.09. Also, Director James Charles Cherry acquired 400 shares of the stock in a transaction that occurred on Monday, November 6th. The stock was purchased at an average price of C$83.35 per share, with a total value of C$33,340.00. Over the last 90 days, insiders sold 1,412 shares of company stock valued at $125,948.

The firm has a market capitalization of $1,310.00, a PE ratio of 13.12 and a beta of 0.92.

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Cogeco Company Profile

Cogeco Inc is a holding company, which operates in the communications and media sectors. The Company operates through two segments: Communications and Other. The Communications segment, through the Company’s subsidiary, Cogeco Communications Inc (Cogeco Communications), provides its residential and business customers with video, Internet and telephony services through its two-way broadband fiber networks.

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