CyrusOne (NASDAQ:CONE) Price Target Cut to $75.00 by Analysts at Wells Fargo & Co

CyrusOne (NASDAQ:CONE) had its price objective lowered by Wells Fargo & Co from $78.00 to $75.00 in a report released on Thursday morning, BenzingaRatingsTable reports. The brokerage currently has an overweight rating on the real estate investment trust’s stock.

Several other research firms also recently commented on CONE. Credit Suisse Group set a $68.00 price objective on shares of CyrusOne and gave the company a hold rating in a report on Friday, November 1st. Raymond James reissued a buy rating and set a $82.00 price objective (up previously from $72.00) on shares of CyrusOne in a report on Friday, November 1st. JPMorgan Chase & Co. downgraded shares of CyrusOne from an overweight rating to a neutral rating and increased their price objective for the company from $71.00 to $77.00 in a report on Friday, November 1st. Zacks Investment Research upgraded shares of CyrusOne from a hold rating to a buy rating and set a $69.00 target price on the stock in a research report on Thursday, February 6th. Finally, SunTrust Banks set a $78.00 target price on shares of CyrusOne and gave the company a buy rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $72.34.

Shares of CONE traded up $0.93 during midday trading on Thursday, hitting $67.72. 1,413,234 shares of the company traded hands, compared to its average volume of 1,230,521. The firm has a 50 day moving average of $63.74 and a 200-day moving average of $67.86. CyrusOne has a 52 week low of $48.94 and a 52 week high of $79.73. The stock has a market cap of $7.06 billion, a price-to-earnings ratio of -451.47, a PEG ratio of 1.05 and a beta of 0.46. The company has a debt-to-equity ratio of 1.21, a quick ratio of 1.26 and a current ratio of 1.26.

In other news, CEO Gary J. Wojtaszek sold 13,361 shares of the company’s stock in a transaction dated Friday, December 27th. The shares were sold at an average price of $65.00, for a total transaction of $868,465.00. Following the sale, the chief executive officer now directly owns 346,008 shares in the company, valued at approximately $22,490,520. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gary J. Wojtaszek sold 100,000 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $67.00, for a total transaction of $6,700,000.00. Following the sale, the chief executive officer now owns 167,351 shares in the company, valued at $11,212,517. The disclosure for this sale can be found here. Insiders have sold a total of 118,456 shares of company stock worth $7,900,195 over the last 90 days. Corporate insiders own 1.40% of the company’s stock.

A number of institutional investors have recently bought and sold shares of CONE. Exane Derivatives raised its position in CyrusOne by 21,221.4% in the 3rd quarter. Exane Derivatives now owns 2,985 shares of the real estate investment trust’s stock worth $236,000 after purchasing an additional 2,971 shares during the period. Strategic Blueprint LLC purchased a new stake in CyrusOne in the 3rd quarter worth about $86,000. Mainstay Capital Management LLC ADV purchased a new stake in CyrusOne in the 3rd quarter worth about $204,000. Meeder Asset Management Inc. raised its position in CyrusOne by 4,750.0% in the 3rd quarter. Meeder Asset Management Inc. now owns 582 shares of the real estate investment trust’s stock worth $46,000 after purchasing an additional 570 shares during the period. Finally, Nisa Investment Advisors LLC raised its position in CyrusOne by 198.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 28,734 shares of the real estate investment trust’s stock worth $2,273,000 after purchasing an additional 19,092 shares during the period.

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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