CyrusOne (CONE) Lifted to Buy at BidaskClub

CyrusOne (NASDAQ:CONE) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a report released on Monday, February 4th.

A number of other equities analysts have also recently commented on CONE. Jefferies Financial Group dropped their price objective on shares of CyrusOne from $75.00 to $66.00 and set a “buy” rating for the company in a research note on Thursday, November 1st. Bank of America cut shares of CyrusOne from a “buy” rating to a “neutral” rating and set a $52.88 price objective for the company. in a research report on Wednesday, January 2nd. Cowen lowered their price objective on shares of CyrusOne from $79.00 to $67.00 and set a “buy” rating for the company in a research report on Thursday, November 1st. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of CyrusOne from a “sell” rating to a “hold” rating in a report on Friday, November 2nd. Finally, Wells Fargo & Co set a $66.00 price target on shares of CyrusOne and gave the company a “buy” rating in a report on Thursday, October 18th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $62.24.

Shares of NASDAQ:CONE traded up $0.56 during trading on Monday, reaching $50.40. 1,052,004 shares of the stock traded hands, compared to its average volume of 1,101,238. CyrusOne has a 52-week low of $48.01 and a 52-week high of $69.01. The company has a quick ratio of 0.64, a current ratio of 0.54 and a debt-to-equity ratio of 1.19. The stock has a market cap of $5.60 billion, a price-to-earnings ratio of 15.23, a PEG ratio of 0.92 and a beta of 0.89.

CyrusOne (NASDAQ:CONE) last issued its quarterly earnings results on Wednesday, February 20th. The real estate investment trust reported $0.86 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.04. The business had revenue of $221.30 million for the quarter, compared to analysts’ expectations of $223.80 million. CyrusOne had a net margin of 0.15% and a return on equity of 0.06%. The company’s revenue was up 22.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.84 EPS. As a group, sell-side analysts anticipate that CyrusOne will post 3.16 earnings per share for the current year.

In related news, EVP Kevin L. Timmons sold 19,600 shares of CyrusOne stock in a transaction that occurred on Tuesday, February 26th. The shares were sold at an average price of $51.14, for a total value of $1,002,344.00. Following the completion of the transaction, the executive vice president now owns 152,965 shares in the company, valued at $7,822,630.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Gary J. Wojtaszek acquired 4,000 shares of the business’s stock in a transaction on Wednesday, February 27th. The shares were bought at an average cost of $49.86 per share, for a total transaction of $199,440.00. Following the acquisition, the chief executive officer now owns 396,534 shares of the company’s stock, valued at approximately $19,771,185.24. The disclosure for this purchase can be found here. Company insiders own 1.40% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Pearl River Capital LLC purchased a new position in CyrusOne in the 4th quarter valued at $27,000. Oregon Public Employees Retirement Fund grew its position in CyrusOne by 5,517.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,191,559 shares of the real estate investment trust’s stock valued at $41,000 after buying an additional 2,152,545 shares during the last quarter. Proficio Capital Partners LLC grew its position in CyrusOne by 59.4% in the 4th quarter. Proficio Capital Partners LLC now owns 1,098 shares of the real estate investment trust’s stock valued at $58,000 after buying an additional 409 shares during the last quarter. Bremer Trust National Association purchased a new position in CyrusOne in the 4th quarter valued at $84,000. Finally, IFP Advisors Inc grew its position in CyrusOne by 95.8% in the 3rd quarter. IFP Advisors Inc now owns 1,982 shares of the real estate investment trust’s stock valued at $126,000 after buying an additional 970 shares during the last quarter. 98.04% of the stock is currently owned by institutional investors and hedge funds.

About CyrusOne

CyrusOne (NASDAQ: CONE) is a high-growth real estate investment trust (REIT) specializing in highly reliable enterprise-class, carrier-neutral data center properties. The Company provides mission-critical data center facilities that protect and ensure the continued operation of IT infrastructure for approximately 1,000 customers, including 208 Fortune 1000 companies.

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