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Downgrade Alert for Shenandoah Telecommunications (SHEN)

By Amy Schwartz

Shenandoah Telecommunications (NASDAQ:SHEN) was downgraded from Outperform to Market Perform at Raymond James today. The stock closed yesterday at $34.11 on volume of 489,000 shares, above average daily volume of 138,000.

Shenandoah Telecommunications share prices have moved between a 52-week high of $36.21 and a 52-week low of $15.04 and closed yesterday at 127% above that low price at $34.11 per share. Over the last five market days, the 200-day moving average (MA) has gone up 1.2% while the 50-day MA has advanced 2.5%.

There is potential upside of 45.9% for shares of Shenandoah Telecommunications based on a current price of $34.11 and an average consensus analyst price target of $49.75. The stock should discover initial support at its 50-day moving average (MA) of $26.33 and subsequent support at its 200-day MA of $22.69.

Shenandoah Telecommunications Company provides telecommunications services through its subsidiaries. The Company offers integrated, full service telecommunications products and services in the Northern Shenandoah Valley and surrounding areas. Shenandoah Telecommunications also holds paging and other radio telecommunications licenses.

SmarTrend recommended that subscribers consider buying shares of Shenandoah Telecommunications on January 27th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $22.71. Since that recommendation, shares of Shenandoah Telecommunications have risen 59.4%. We continue to monitor SHEN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades shenandoah telecommunications

Ticker(s): SHEN