Altice USA (NYSE:ATUS) Trading Up 4.9% - Time to Buy?

Altice USA, Inc. (NYSE:ATUS - Get Free Report)'s stock price shot up 4.9% during mid-day trading on Monday . The stock traded as high as $2.46 and last traded at $2.48. 347,773 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 3,201,898 shares. The stock had previously closed at $2.36.

Analysts Set New Price Targets

Separately, Raymond James upgraded Altice USA from a "market perform" rating to an "outperform" rating and set a $3.50 price objective for the company in a report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Altice USA has a consensus rating of "Hold" and an average price target of $2.67.

Altice USA Stock Performance

The firm has a market cap of $1.14 billion, a price-to-earnings ratio of -10.70 and a beta of 1.65. The business has a 50 day simple moving average of $2.50 and a 200-day simple moving average of $2.57.

Altice USA (NYSE:ATUS - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.16). As a group, research analysts anticipate that Altice USA, Inc. will post -0.24 earnings per share for the current year.

Institutional Investors Weigh In On Altice USA

A number of hedge funds have recently modified their holdings of ATUS. Swiss National Bank raised its stake in shares of Altice USA by 2.0% in the fourth quarter. Swiss National Bank now owns 407,700 shares of the company's stock valued at $983,000 after buying an additional 8,000 shares during the period. LPL Financial LLC purchased a new stake in Altice USA in the 4th quarter worth about $25,000. Raymond James Financial Inc. bought a new stake in Altice USA in the 4th quarter valued at about $30,000. Geode Capital Management LLC boosted its position in Altice USA by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 2,695,716 shares of the company's stock worth $6,500,000 after purchasing an additional 12,959 shares during the period. Finally, Dynamic Technology Lab Private Ltd bought a new position in Altice USA during the fourth quarter worth about $43,000. Institutional investors own 54.85% of the company's stock.

About Altice USA

Altice USA, Inc, together with its subsidiaries, provides broadband communications and video services in the United States, Canada, Puerto Rico, and the Virgin Islands. It offers broadband, video, telephony, and mobile services to residential and business customers. The company's video services include delivery of broadcast stations and cable networks; over the top services; video-on-demand, high-definition channels, digital video recorder, and pay-per-view services; and platforms for video programming through mobile applications.