Level 3 Receives a Hold from FBR CapitalBy Jason Carr
FBR Capital analyst David Dixon reiterated a Hold rating on Level 3 (NYSE: LVLT) today and set a price target of $66.50. The company’s shares closed yesterday at $56.15, close to its 52-week high of $57.59.
According to TipRanks.com, Dixon is a 4-star analyst with an average return of 9.9% and a 50.0% success rate. Dixon covers the Technology sector, focusing on stocks such as Shenandoah Telecommunications Co, United States Cellular, and Zayo Group Holdings.
Currently, the analyst consensus on Level 3 is Moderate Buy and the average price target is $58.88, representing a 4.9% upside.
In a report released yesterday, William Blair also downgraded the stock to Hold.
The company has a one year high of $57.59 and a one year low of $41.73. Currently, Level 3 has an average volume of 3.65M.
Based on the recent corporate insider activity of 60 insiders, corporate insider sentiment is neutral on the stock. Last month, Hector Alonso, the Regional President, Latin Amer of LVLT sold 1,865 shares for a total of $78,740.
Level 3 Communications, Inc. provides integrated communications services, non-switched and local-access telecommunications services. It provides IP-based communications services to enterprise, content, government and wholesale customers. The company products include Content distribution & performance, Data networks, Managed & professional services, Security, Voice UC&C and Cloud security. It operates through four reportable segments: North America, Europe, the Middle East and Africa, Latin America and TW telecom. Level 3 Communications was founded by Kevin J. O’Hara in 1985 and is headquartered in Broomfield, CO.