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CyrusOne (NASDAQ:CONE) Given New $85.00 Price Target at Wells Fargo & Co

Last updated on Friday, July 10th, 2020 by MarketBeat

CyrusOne (NASDAQ:CONE) had its target price hoisted by analysts at Wells Fargo & Co from $76.00 to $85.00 in a report released on Friday, BenzingaRatingsTable reports. The brokerage currently has an "overweight" rating on the real estate investment trust's stock. Wells Fargo & Co's target price points to a potential upside of 12.30% from the stock's current price.

Other equities research analysts also recently issued research reports about the stock. BMO Capital Markets reiterated a "hold" rating and set a $70.00 target price on shares of CyrusOne in a research note on Wednesday, April 29th. BidaskClub cut shares of CyrusOne from a "buy" rating to a "hold" rating in a research note on Saturday, June 6th. Deutsche Bank assumed coverage on CyrusOne in a report on Friday, June 5th. They issued a "buy" rating and a $83.00 price objective on the stock. ValuEngine lowered CyrusOne from a "hold" rating to a "sell" rating in a research note on Friday, July 3rd. Finally, Citigroup boosted their price target on CyrusOne from $52.00 to $74.00 and gave the company a "neutral" rating in a report on Thursday, April 30th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company's stock. The company presently has an average rating of "Hold" and a consensus price target of $78.00.

Shares of NASDAQ CONE traded down $1.15 during midday trading on Friday, hitting $75.69. The stock had a trading volume of 4,814 shares, compared to its average volume of 1,190,201. CyrusOne has a 52 week low of $43.72 and a 52 week high of $79.73. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 1.40. The company has a market cap of $8.78 billion, a P/E ratio of -252.29, a PEG ratio of 0.90 and a beta of 0.41. The business's 50 day moving average is $74.27 and its 200-day moving average is $66.59.

CyrusOne (NASDAQ:CONE) last issued its quarterly earnings data on Wednesday, April 29th. The real estate investment trust reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.82). The company had revenue of $245.10 million for the quarter, compared to analysts' expectations of $249.49 million. CyrusOne had a positive return on equity of 1.54% and a negative net margin of 3.32%. The firm's quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.82 EPS. As a group, analysts expect that CyrusOne will post 3.83 EPS for the current fiscal year.

In related news, EVP Kevin L. Timmons sold 5,000 shares of the stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $68.33, for a total transaction of $341,650.00. Following the completion of the sale, the executive vice president now directly owns 48,492 shares of the company's stock, valued at $3,313,458.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Robert M. Jackson sold 24,164 shares of the business's stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $75.39, for a total value of $1,821,723.96. Following the completion of the transaction, the executive vice president now directly owns 35,923 shares in the company, valued at approximately $2,708,234.97. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 53,595 shares of company stock valued at $3,960,746. Company insiders own 0.55% of the company's stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SeaBridge Investment Advisors LLC bought a new stake in CyrusOne in the first quarter worth about $25,000. Column Capital Advisors LLC bought a new stake in shares of CyrusOne in the 1st quarter valued at about $25,000. tru Independence LLC boosted its position in CyrusOne by 65.5% in the first quarter. tru Independence LLC now owns 422 shares of the real estate investment trust's stock valued at $26,000 after buying an additional 167 shares during the last quarter. Wealthcare Advisory Partners LLC acquired a new position in CyrusOne during the first quarter valued at $27,000. Finally, Lindbrook Capital LLC purchased a new position in shares of CyrusOne during the first quarter valued at approximately $35,000. Institutional investors own 95.36% of the company's stock.

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 212 Fortune 1000 companies.

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Analyst Recommendations for CyrusOne (NASDAQ:CONE)

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