Telecom Argentina (NYSE:TEO) Reaches New 52-Week High – Still a Buy?

Shares of Telecom Argentina S.A. (NYSE:TEO) reached a new 52-week high during trading on Monday . The stock traded as high as $15.05 and last traded at $14.66, with a volume of 67619 shares changing hands. The stock had previously closed at $14.18.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on TEO. StockNews.com upgraded shares of Telecom Argentina from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. The Goldman Sachs Group lifted their target price on shares of Telecom Argentina from $7.30 to $8.30 and gave the company a “sell” rating in a report on Wednesday, November 20th. Finally, Scotiabank downgraded shares of Telecom Argentina from a “sector perform” rating to a “sector underperform” rating and lifted their target price for the company from $5.70 to $6.10 in a report on Friday, September 20th.

Telecom Argentina Trading Down 0.3 %

The company’s 50 day simple moving average is $12.61 and its 200 day simple moving average is $9.21. The firm has a market cap of $6.09 billion, a price-to-earnings ratio of -78.55 and a beta of 0.93. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.40 and a quick ratio of 0.37.

Hedge Funds Weigh In On Telecom Argentina

Several institutional investors have recently modified their holdings of the business. Cubist Systematic Strategies LLC acquired a new position in shares of Telecom Argentina in the second quarter worth $334,000. B. Riley Wealth Advisors Inc. acquired a new position in shares of Telecom Argentina in the second quarter worth $174,000. Centiva Capital LP acquired a new position in shares of Telecom Argentina in the third quarter worth $123,000. PFG Investments LLC acquired a new position in shares of Telecom Argentina in the second quarter worth $104,000. Finally, Stifel Financial Corp acquired a new position in shares of Telecom Argentina during the third quarter worth $91,000.

Telecom Argentina Company Profile

Telecom Argentina SA, together with its subsidiaries, provides telecommunications services. The company offers mobile telecommunications services, including voice communications, high-speed mobile Internet content and applications download, online streaming, and other services; and sells mobile communication devices, such as handsets, Modems MiFi and wingles, and smart watches.