In a note issued to investors on Thursday, Jefferies Group LLC (NYSE:$JEF) restated a ‘Hold’ rating for Community Health Systems, Inc.’s (NYSE:$CYH) stock. They also placed a $7.00 target price on the stock. Based on the stock’s current price, that would suggest a potential upside of 21.32%.
Community Health Systems is an operator of general acute care hospitals and outpatient facilities in commodities across the US.
During mid-day trading on Thursday, Community Health Systems traded down 3.99% reaching $5.77 with 6,577,497 shares trading hands. They currently have a 50 day moving average of $7.25 and a 200 day moving average of $8.36. They have a 52 week low of $4.15 and a 52 week high of $10.67. Their market cap currently sits at $645.87 million.
Community Health Systems posted their most recent earnings report on Tuesday, August 1. They reported -$0.25 earnings per share for the quarter. This beat the analysts’ consensus estimates of -$0.31. During the same quarter in the previous year, the company posted $0.09 EPS. Analysts anticipate that the company will post -$0.37 EPS for the current year. They also posted a revenue of $4.14 billion for the quarter, matching analyst estimates. This number represented a drop of 9.7% on a year-over-year basis.
Multiple other firms have recently weighed in on the stock:
- Piper Jaffray Companies (NYSE:$PJC): In a research report dated Wednesday, July 26th, Piper Jaffray reissued a ‘Sell’ rating and set a target price of $9.00.
- Zacks Investment Research: In a report on Wednesday, August 2nd, Zacks dropped their rating from ‘Hold’ to ‘Sell’.
- Deutsche Bank AG (NYSE:$DB): In a report on Thursday, August 3rd, Deutsche Bank set a ‘Hold’ rating and dropped their target price from $13.00 to $8.00.
- UBS AG (OTCMKTS:$OUBSF): In a report on August 23rd, UBS AG restated a ‘Neutral’ rating and dropped their target price from $10.00 to $8.00.
- Robert W. Baird: In a report on Wednesday, October 4th, Robert W. Baird restated a ‘Hold’ rating with a target price of $7.00.
The company currently has 11 ‘Hold’ ratings, 7 ‘Sell’ ratings, and 1 ‘Buy’ rating, giving them a mean recommendation of ‘Hold’ and a target price of $7.56.
Multiple institutions have recently altered their positions in the company:
- OLD Mutual Customized Solutions Proprietary Ltd. bought an additional 10,300 shares of the company in the 1st quarter, an increase of 168.4%, for a total of 16,417 valued at $146,000.
- Nomura Asset Management Co. Ltd. bought an additional 8,200 shares during the 1st quarter, an increase of 134.4%, giving them a total of 14,300 shares valued at $127,000.
- Fox Run Management LLC bought a new position in the company during the 2nd quarter, with an initial purchase of $126,000.
- Shelton Capital Management bought a new position in the company during the 2nd quarter with an initial purchase of $110,000
- Alps Advisors Inc. bought a new position in the company during the 2nd quarter with an initial purchase of $107,000.
The company’s stock is currently 94.69% owned by institutions and hedge funds.
In other news, on Monday, August 14th, major shareholder Tian Qiao Chen bought 9,766,897 shares at an average price of $7.27 per share, with a total value of $71,005,341.19. Company insiders currently hold 4.70% of the company’s stock.
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