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

CyrusOne (NASDAQ:CONE) had its target price lowered by analysts at Wells Fargo & Co from $78.00 to $75.00 in a research report issued to clients and investors on Thursday, BenzingaRatingsTable reports. The firm presently has an “overweight” rating on the real estate investment trust’s stock. Wells Fargo & Co‘s target price would suggest a potential upside of 11.41% from the company’s current price.

Other equities analysts have also recently issued research reports about the company. Morgan Stanley decreased their price objective on CyrusOne from $78.50 to $71.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. BMO Capital Markets cut CyrusOne from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $73.00 to $67.00 in a research note on Tuesday, January 14th. BidaskClub cut CyrusOne from a “hold” rating to a “sell” rating in a research note on Saturday, February 1st. Raymond James reiterated a “buy” rating and issued a $82.00 price objective (up previously from $72.00) on shares of CyrusOne in a research note on Friday, November 1st. Finally, Bank of America cut CyrusOne from a “buy” rating to a “neutral” rating in a research note on Thursday, January 2nd. One equities research 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 company presently has a consensus rating of “Hold” and an average price target of $72.34.

Shares of CONE opened at $67.32 on Thursday. The stock has a 50-day simple moving average of $63.69 and a 200-day simple moving average of $67.80. The company has a debt-to-equity ratio of 1.21, a quick ratio of 1.26 and a current ratio of 1.26. The stock has a market capitalization of $7.06 billion, a PE ratio of -448.80, a PEG ratio of 1.05 and a beta of 0.46. CyrusOne has a 1 year low of $48.94 and a 1 year high of $79.73.

In other CyrusOne news, CEO Gary J. Wojtaszek sold 13,361 shares of CyrusOne stock in a transaction that occurred on Friday, December 27th. The stock was sold at an average price of $65.00, for a total transaction of $868,465.00. Following the transaction, the chief executive officer now owns 346,008 shares of the company’s stock, valued at $22,490,520. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Gary J. Wojtaszek sold 100,000 shares of CyrusOne stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $67.00, for a total value of $6,700,000.00. Following the transaction, the chief executive officer now directly owns 167,351 shares in the company, valued at approximately $11,212,517. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 118,456 shares of company stock worth $7,900,195. 1.40% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Prime Capital Investment Advisors LLC acquired a new position in CyrusOne during the third quarter worth approximately $29,000. First National Bank of South Miami purchased a new position in shares of CyrusOne in the 4th quarter valued at approximately $26,000. FNY Investment Advisers LLC purchased a new position in shares of CyrusOne in the 4th quarter valued at approximately $32,000. Meeder Asset Management Inc. grew its stake in shares of 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 valued at $46,000 after purchasing an additional 570 shares during the last quarter. Finally, Howe & Rusling Inc. grew its stake in shares of CyrusOne by 36.4% in the 3rd quarter. Howe & Rusling Inc. now owns 750 shares of the real estate investment trust’s stock valued at $59,000 after purchasing an additional 200 shares during the last quarter.

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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