Cogeco (TSE:CGO) Stock Passes Below 200 Day Moving Average - Here's Why

Key Points

• Shares of Cogeco Inc. (TSE:CGO) have fallen below their two hundred day moving average, trading as low as C$59.34, with the last recorded price at C$59.63.
• TD Securities has reduced their target price on Cogeco from C$106.00 to C$105.00 while maintaining a "buy" rating.
• Cogeco has a market capitalization of C$566.10 million and significant debt-to-equity ratio of 605.15, highlighting its financial position.

Cogeco Inc. (TSE:CGO - Get Free Report)'s share price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$61.29 and traded as low as C$59.34. Cogeco shares last traded at C$59.63, with a volume of 29,945 shares changing hands.

Analyst Ratings Changes

Separately, TD Securities dropped their target price on Cogeco from C$106.00 to C$105.00 and set a "buy" rating for the company in a report on Friday, April 11th.

Cogeco Stock Up 0.6%

The company has a quick ratio of 0.51, a current ratio of 0.40 and a debt-to-equity ratio of 605.15. The company has a market cap of C$558.79 million, a PE ratio of 6.06, a PEG ratio of -0.28 and a beta of 0.34. The company's fifty day moving average is C$64.81 and its 200-day moving average is C$61.36.

Cogeco Company Profile

Cogeco Inc is a telecommunications company. The company has two reportable operating segments, namely Canadian broadband services and American broadband services. The Canadian and American broadband services segments provide a wide range of Internet, video, and telephony services primarily to residential customers, as well as business services across their coverage areas.