ATN International (NASDAQ:ATNI) Upgraded to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of ATN International (NASDAQ:ATNI) from a hold rating to a buy rating in a research report report published on Thursday morning, Zacks.com reports. Zacks Investment Research currently has $63.00 price target on the technology company’s stock.

According to Zacks, “ATN International, Inc. invests, own and operate communications companies and renewable energy assets. The company through its operating subsidiaries provide wireless and wireline connectivity to residential and business customers including mobile wireless solutions, local exchange services and broadband internet services; distributed solar electric power to corporate, utility and municipal customers and owner and operator of terrestrial and submarine fiber optic transport systems primarily in the United States and the Caribbean. ATN International Inc., formerly known as Atlantic Tele-Network, Inc., is based in Beverly, United States. “

Other analysts also recently issued reports about the company. Raymond James restated a buy rating and set a $67.00 target price on shares of ATN International in a research note on Friday, October 25th. BWS Financial raised their target price on ATN International from $65.00 to $85.00 and gave the company a buy rating in a research note on Friday, October 25th. National Securities assumed coverage on ATN International in a research note on Wednesday, October 16th. They set a buy rating for the company. TheStreet downgraded ATN International from a c rating to a d+ rating in a research note on Wednesday, October 23rd. Finally, Maxim Group restated a buy rating and set a $71.00 target price on shares of ATN International in a research note on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $71.50.

Shares of ATN International stock traded up $0.21 during trading hours on Thursday, hitting $54.96. 50,800 shares of the company’s stock traded hands, compared to its average volume of 58,762. The stock has a 50 day simple moving average of $57.49 and a 200-day simple moving average of $58.36. The company has a quick ratio of 1.87, a current ratio of 1.83 and a debt-to-equity ratio of 0.18. The company has a market cap of $881.66 million, a PE ratio of 42.60 and a beta of 0.32. ATN International has a twelve month low of $50.48 and a twelve month high of $88.78.

ATN International (NASDAQ:ATNI) last announced its earnings results on Wednesday, October 23rd. The technology company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.08. The company had revenue of $115.62 million during the quarter, compared to the consensus estimate of $115.49 million. ATN International had a return on equity of 0.02% and a net margin of 0.02%. As a group, equities research analysts predict that ATN International will post -0.14 EPS for the current year.

In related news, VP William F. Kreisher sold 2,000 shares of ATN International stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $61.00, for a total value of $122,000.00. Following the completion of the transaction, the vice president now directly owns 57,242 shares in the company, valued at $3,491,762. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael T. Prior sold 3,333 shares of ATN International stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $58.78, for a total value of $195,913.74. Following the completion of the transaction, the chief executive officer now owns 431,431 shares of the company’s stock, valued at $25,359,514.18. The disclosure for this sale can be found here. Insiders have sold 7,333 shares of company stock valued at $440,274 over the last 90 days. Insiders own 4.34% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Marshall Wace North America L.P. acquired a new position in ATN International in the first quarter worth about $55,000. Sun Life Financial INC grew its stake in ATN International by 144.0% in the second quarter. Sun Life Financial INC now owns 2,450 shares of the technology company’s stock worth $141,000 after purchasing an additional 1,446 shares in the last quarter. Portland Global Advisors LLC acquired a new position in ATN International in the second quarter worth about $226,000. Municipal Employees Retirement System of Michigan grew its stake in ATN International by 50.0% in the second quarter. Municipal Employees Retirement System of Michigan now owns 4,770 shares of the technology company’s stock worth $275,000 after purchasing an additional 1,590 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its stake in ATN International by 92.2% in the second quarter. Russell Investments Group Ltd. now owns 12,973 shares of the technology company’s stock worth $746,000 after purchasing an additional 6,225 shares in the last quarter. Institutional investors and hedge funds own 63.73% of the company’s stock.

About ATN International

ATN International, Inc, through its subsidiaries, provides wireless and wireline telecommunications services in North America, India, Bermuda, and the Caribbean. It operates through three segments: U.S. Telecom, International Telecom, and Renewable Energy. The U.S. Telecom segment offers wireless and wireline services; wholesale wireless voice and data roaming services to wireless carriers principally in the Southwest and Midwest the United States; and retail wireless, wireline, and wholesale long-distance voice services to telecommunications carriers.

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