21Vianet Group (VNET) Rating Lowered to Hold at Zacks Investment Research

21Vianet Group (NASDAQ:VNET) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Thursday.

According to Zacks, “21Vianet Group, Inc. operates as a carrier-neutral Internet data center services provider in China. It provides hosting and related services, managed network services and cloud computing infrastructure. The Company’s infrastructure is interconnected with the networks operated by all of China’s telecommunications carriers, major non-carriers and local Internet service providers, or ISPs. 21Vianet Group, Incorporation. Its customers include Internet companies, government entities, blue-chip enterprises, and small-to mid-sized enterprises. 21Vianet Group, Inc. is headquartered in Beijing, the Peoples’ Republic of China. “

A number of other equities analysts also recently weighed in on VNET. BidaskClub raised shares of 21Vianet Group from a “sell” rating to a “hold” rating in a research note on Saturday, September 22nd. Jefferies Financial Group initiated coverage on shares of 21Vianet Group in a research note on Tuesday, October 2nd. They issued a “buy” rating for the company. Finally, Bank of America initiated coverage on shares of 21Vianet Group in a research note on Tuesday, September 18th. They issued a “buy” rating for the company. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $11.00.

NASDAQ:VNET opened at $9.28 on Thursday. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of -38.67 and a beta of 1.95. 21Vianet Group has a 12 month low of $5.01 and a 12 month high of $11.54. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 0.54.

21Vianet Group (NASDAQ:VNET) last released its quarterly earnings results on Thursday, August 16th. The information technology services provider reported ($0.01) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.01). The firm had revenue of $125.18 million for the quarter. 21Vianet Group had a negative net margin of 18.44% and a positive return on equity of 2.05%. Research analysts predict that 21Vianet Group will post 0.01 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in VNET. Renaissance Technologies LLC bought a new position in shares of 21Vianet Group in the second quarter worth about $8,893,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of 21Vianet Group by 277.6% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 352,935 shares of the information technology services provider’s stock worth $3,423,000 after acquiring an additional 259,460 shares during the last quarter. Millennium Management LLC raised its stake in shares of 21Vianet Group by 37.5% in the first quarter. Millennium Management LLC now owns 832,763 shares of the information technology services provider’s stock worth $5,771,000 after acquiring an additional 227,158 shares during the last quarter. Dorsey Wright & Associates bought a new position in shares of 21Vianet Group in the third quarter worth about $1,431,000. Finally, BlackRock Inc. raised its stake in shares of 21Vianet Group by 7.2% in the first quarter. BlackRock Inc. now owns 1,360,938 shares of the information technology services provider’s stock worth $9,432,000 after acquiring an additional 91,336 shares during the last quarter. 30.54% of the stock is owned by institutional investors.

About 21Vianet Group

21Vianet Group, Inc provides carrier-neutral Internet data center services to Internet companies, government entities, blue-chip enterprises, and small-to mid-sized enterprises in the People's Republic of China. It offers hosting and related services to house servers and networking equipment in its data centers, and connects them through a data transmission network; and other hosting related value-added services.

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