WideOpenWest, Inc. (WOW) Trading Down 3.3% on Analyst Downgrade

Shares of WideOpenWest, Inc. (NYSE:WOW) dropped 3.3% on Tuesday after UBS AG lowered their price target on the stock from $21.00 to $19.00. UBS AG currently has a buy rating on the stock. WideOpenWest traded as low as $10.19 and last traded at $11.56. Approximately 269,900 shares were traded during mid-day trading, a decline of 10% from the average daily volume of 300,856 shares. The stock had previously closed at $11.95.

A number of other analysts have also recently commented on WOW. Royal Bank Of Canada reaffirmed a “buy” rating and set a $20.00 price target on shares of WideOpenWest in a research report on Monday, September 18th. Zacks Investment Research cut shares of WideOpenWest from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 18th. Finally, SunTrust Banks, Inc. reaffirmed a “buy” rating and set a $18.00 price target on shares of WideOpenWest in a research report on Tuesday. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $19.71.

A number of institutional investors and hedge funds have recently modified their holdings of WOW. Crestview Partners III GP L.P. bought a new stake in WideOpenWest during the second quarter valued at $431,828,000. Goldman Sachs Group Inc. acquired a new position in shares of WideOpenWest during the second quarter valued at about $33,180,000. TimesSquare Capital Management LLC acquired a new position in shares of WideOpenWest during the second quarter valued at about $32,481,000. Vanguard Group Inc. acquired a new position in shares of WideOpenWest during the second quarter valued at about $20,356,000. Finally, Schroder Investment Management Group acquired a new position in shares of WideOpenWest during the second quarter valued at about $14,918,000. 51.11% of the stock is currently owned by institutional investors and hedge funds.

The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of -8.28.

WideOpenWest (NYSE:WOW) last announced its quarterly earnings data on Monday, November 13th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.17. The company had revenue of $297.80 million for the quarter, compared to analyst estimates of $302.00 million. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. sell-side analysts forecast that WideOpenWest, Inc. will post 0.9 earnings per share for the current year.

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WideOpenWest Company Profile

WideOpenWest, Inc is a cable operator in the United States. The Company provides high-speed data (HSD), cable television (Video), digital telephony (Telephony) and business-class services. The Company’s products are available either as a bundle or as an individual service to residential and business services customers.

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