The stock of GTT Communications Inc (NYSE:GTT) hit a new 52-week high and has $40.34 target or 65.00% above today’s $24.45 share price. The 7 months bullish chart indicates low risk for the $933.24 million company. The 1-year high was reported on Nov, 17 by Barchart.com. If the $40.34 price target is reached, the company will be worth $606.61 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 184,503 shares traded hands or 57.58% up from the average. GTT Communications Inc (NYSE:GTT) has risen 47.13% since April 15, 2016 and is uptrending. It has outperformed by 42.51% the S&P500.
GTT Communications Inc (NYSE:GTT) Ratings Coverage
Out of 4 analysts covering GTT Communications (NYSE:GTT), 4 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. GTT Communications has been the topic of 5 analyst reports since August 7, 2015 according to StockzIntelligence Inc. Cowen & Co initiated the shares of GTT in a report on Monday, October 12 with “Outperform” rating. Pacific Crest maintained the shares of GTT in a report on Wednesday, September 16 with “Overweight” rating. The firm has “Buy” rating given on Wednesday, November 4 by Drexel Hamilton. The stock has “Buy” rating given by Suntrust Robinson on Thursday, February 18. Pacific Crest maintained GTT Communications Inc (NYSE:GTT) rating on Friday, August 7. Pacific Crest has “Overweight” rating and $31 price target.
According to Zacks Investment Research, “GTT Communications, Inc. offers cloud networking; high bandwidth IP transit for content delivery and hosting as well as network-to-network carrier interconnects solutions and data connectivity solutions. The company’s network consists of a layer 2 switched Ethernet and IP transit or dedicated internet access. It operates primarily in North America, Europe and Asia. GTT Communications, Inc., formerly known as Global Telecom & Technology, Inc., is headquartered in McLean, Virginia.”
More recent GTT Communications Inc (NYSE:GTT) news were published by: Marketwatch.com which released: “Plus the latest data from Realtor.com on 21 home markets across the US” on February 18, 2013. Also Seekingalpha.com published the news titled: “GTT Communications, Inc. (GTT) CEO Rick Calder on Q3 2016 Results – Earnings …” on November 09, 2016. Quotes.Wsj.com‘s news article titled: “News GTT Communications Inc.GTT” with publication date: February 23, 2011 was also an interesting one.
GTT Company Profile
GTT Communications, Inc., incorporated on January 3, 2005, is a well-known provider of cloud networking services. The Firm offers a portfolio of global communications services, including EtherCloud wide area network services; Internet services; managed network and security services, and voice and unified communication services. The Company’s Tier 1 Internet protocol (IP) network delivers connectivity for its clients around the world. It provides services to multinational enterprises, carriers and government clients in over 100 countries. The Company’s global network assets are deployed in North America, South America, Europe, Asia and Australia.
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