Telephone and Data Systems (NYSE:TDS) Upgraded to Strong-Buy at Zacks Research

Key Points

• Zacks Research upgraded Telephone and Data Systems to “strong buy” from “hold.” Other analysts have issued mixed ratings, resulting in a “Moderate Buy” consensus and a $56 price target.
• TDS shares opened at $33.29, compared with a 12-month range of $31.51 to $49.12. The company has a $3.79 billion market capitalization and relatively low leverage, with a debt-to-equity ratio of 0.16.
• Institutional investors own approximately 80% of TDS stock, with several funds recently initiating or increasing positions, including Bank of New York Mellon, which acquired a stake valued at about $31.1 million.

Telephone and Data Systems (NYSE:TDS - Get Free Report) was upgraded by Zacks Research from a "hold" rating to a "strong-buy" rating in a research report issued on Tuesday,Zacks.com reports.

Other research analysts also recently issued research reports about the company. Raymond James Financial downgraded Telephone and Data Systems from an "outperform" rating to a "market perform" rating in a report on Monday, May 11th. Weiss Ratings raised Telephone and Data Systems from a "hold (c-)" rating to a "hold (c+)" rating in a report on Tuesday. Finally, Wall Street Zen upgraded shares of Telephone and Data Systems from a "sell" rating to a "hold" rating in a research note on Saturday, May 30th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Telephone and Data Systems currently has a consensus rating of "Moderate Buy" and a consensus price target of $56.00.

Telephone and Data Systems Stock Performance

NYSE:TDS opened at $33.29 on Tuesday. Telephone and Data Systems has a 12 month low of $31.51 and a 12 month high of $49.12. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.43 and a quick ratio of 3.42. The firm has a market capitalization of $3.79 billion, a PE ratio of 11.10 and a beta of 0.32. The business's fifty day moving average price is $36.17 and its 200 day moving average price is $41.18.

Hedge Funds Weigh In On Telephone and Data Systems

Several institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp acquired a new stake in Telephone and Data Systems during the 2nd quarter worth approximately $31,096,000. Milestone Asset Management LLC purchased a new position in shares of Telephone and Data Systems in the 2nd quarter valued at approximately $1,053,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of Telephone and Data Systems by 174.1% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 19,727 shares of the Wireless communications provider's stock valued at $673,000 after purchasing an additional 12,530 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in shares of Telephone and Data Systems by 13.8% in the second quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 15,424 shares of the Wireless communications provider's stock valued at $571,000 after purchasing an additional 1,875 shares during the period. Finally, Hennion & Walsh Asset Management Inc. increased its holdings in shares of Telephone and Data Systems by 15.6% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 34,770 shares of the Wireless communications provider's stock valued at $1,287,000 after purchasing an additional 4,692 shares during the period. Institutional investors and hedge funds own 80.00% of the company's stock.

Telephone and Data Systems Company Profile

Telephone and Data Systems, Inc NYSE: TDS is a diversified telecommunications company headquartered in Chicago, Illinois. Through its subsidiaries, the company provides a broad array of communications services, including wireless voice and data, wireline broadband and voice, cable television, and managed IT and cloud solutions. Its two primary operating units—TDS Telecom and U.S. Cellular—serve residential, business and wholesale customers across the United States.

TDS Telecom focuses on delivering broadband internet, digital voice, video and data communications services in primarily rural and suburban markets.

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