CyrusOne (CONE) Upgraded to Buy by Deutsche Bank

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CyrusOne (NASDAQ:CONE) was upgraded by analysts at Deutsche Bank from a “hold” rating to a “buy” rating in a research report issued on Friday, MarketBeat Ratings reports. The firm currently has a $63.39 price objective on the real estate investment trust’s stock. Deutsche Bank’s price objective suggests a potential downside of 0.52% from the stock’s current price.

Several other research firms also recently commented on CONE. BidaskClub raised CyrusOne from a “hold” rating to a “buy” rating in a report on Monday, February 4th. Zacks Investment Research upgraded CyrusOne from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 23rd. TheStreet upgraded CyrusOne from a “c” rating to a “b-” rating in a research note on Wednesday, May 1st. Jefferies Financial Group cut CyrusOne from a “buy” rating to a “hold” rating and dropped their price target for the company from $62.00 to $54.00 in a research note on Friday, February 22nd. Finally, Wells Fargo & Co restated a “buy” rating on shares of CyrusOne in a research note on Thursday, February 21st. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. CyrusOne currently has an average rating of “Buy” and a consensus target price of $64.41.

NASDAQ CONE opened at $63.72 on Friday. The company has a market capitalization of $7.21 billion, a PE ratio of 19.25, a P/E/G ratio of 1.26 and a beta of 0.87. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.59 and a quick ratio of 1.59. CyrusOne has a 12 month low of $48.94 and a 12 month high of $69.01.

CyrusOne (NASDAQ:CONE) last released its quarterly earnings data on Wednesday, May 1st. The real estate investment trust reported $0.82 EPS for the quarter, beating the consensus estimate of $0.77 by $0.05. The company had revenue of $225.00 million during the quarter, compared to the consensus estimate of $231.36 million. CyrusOne had a return on equity of 2.15% and a net margin of 5.54%. The firm’s revenue for the quarter was up 14.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.85 EPS. On average, sell-side analysts forecast that CyrusOne will post 3.36 earnings per share for the current year.

In other CyrusOne news, EVP Kevin L. Timmons sold 19,600 shares of the stock in a transaction on Tuesday, February 26th. The stock was sold at an average price of $51.14, for a total transaction of $1,002,344.00. Following the transaction, the executive vice president now owns 152,965 shares in the company, valued at approximately $7,822,630.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael Klayko acquired 1,955 shares of the stock in a transaction on Monday, March 11th. The shares were purchased at an average price of $51.10 per share, for a total transaction of $99,900.50. Following the transaction, the director now directly owns 12,016 shares in the company, valued at $614,017.60. The disclosure for this purchase can be found here. 1.40% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of CONE. Sageworth Trust Co bought a new position in CyrusOne during the 1st quarter worth $26,000. Lenox Wealth Management Inc. bought a new position in CyrusOne during the 1st quarter worth $26,000. Pearl River Capital LLC bought a new position in CyrusOne during the 4th quarter worth $27,000. Northwestern Mutual Wealth Management Co. increased its position in CyrusOne by 302.7% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 588 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 442 shares during the period. Finally, Tortoise Index Solutions LLC bought a new position in CyrusOne during the 1st quarter worth $40,000. Hedge funds and other institutional investors own 98.04% of the company’s stock.

CyrusOne Company Profile

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 211 Fortune 1000 companies.

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Analyst Recommendations for CyrusOne (NASDAQ:CONE)

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