Level 3 was Downgraded to a Sell Rating at Raymond James

By Ryan Adsit

Level 3 (NYSE: LVLT) received a Sell rating from Raymond James analyst Frank Louthan today. The company’s shares closed last Friday at $59.09, close to its 52-week high of $61.42.

According to TipRanks.com, Louthan is a 5-star analyst with an average return of 15.4% and a 71.4% success rate. Louthan covers the Technology sector, focusing on stocks such as Frontier Communications Corporation, General Communication, and Interxion Holding NV.

Level 3 has an analyst consensus of Moderate Sell, with a price target consensus of $62.50.

Level 3’s market cap is currently $21.32B and has a P/E ratio of 33.67. The company has a book value ratio of 1.9243.

Based on the recent corporate insider activity of 58 insiders, corporate insider sentiment is negative on the stock. Last month, John Michael Ryan, the EVP, CLO of LVLT sold 9,179 shares for a total of $527,701.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.