Shenandoah Telecommunications Company (SHEN) was Downgraded by FBR Capital to ” Mkt Perform” according to the research note released today. The brokerage firm has raised the Price Target to $ 35 from a previous price target of $31 . Earlier the firm had a rating of “Outperform ” on the company shares. FBR Capital advised their investors in a research report released on Aug 8, 2016.
Many Wall Street Analysts have commented on Shenandoah Telecommunications Company. Shenandoah Telecommunications Company was Downgraded by Raymond James to ” Mkt Perform” on Jun 9, 2016.
Shenandoah Telecommunications Company closed down -5.83 points or -14.72% at $33.78 with 8,88,415 shares getting traded on Friday. Post opening the session at $37.85, the shares hit an intraday low of $33.2001 and an intraday high of $38.73 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
In a different news, on Jun 27, 2016, James E Ii Zerkel (director) sold 1,500 shares at $36.46 per share price. According to the SEC, on Jun 23, 2016, Douglas C Arthur (director) sold 9,000 shares at $36.09 per share price. On Jun 22, 2016, Thomas A Whitaker (SR VP – Operations) sold 3,000 shares at $36.00 per share price, according to the Form-4 filing with the securities and exchange commission.
Shenandoah Telecommunications Company is a diversified telecommunications holding company. The Company provides both regulated and unregulated telecommunications services to end user customers and other telecommunications providers in Virginia West Virginia central Pennsylvania and western Maryland. The Company operates in four segments: Wireless Cable Wireline and Other. The Companys Wireless segment provides digital wireless service to a portion of a four-state area covering the region from Harrisburg York and Altoona Pennsylvania to Harrisonburg Virginia. The Cable segment provides video Internet and voice services in franchise areas in portions of Virginia West Virginia and western Maryland. The Wireline segment provides regulated and unregulated voice services digital subscriber lines (DSL) Internet access and long distance access services. The Other segment includes operations of Shenandoah Telecommunications Company.