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Jefferies Financial Group has restated its holding note on the shares of Switch (NYSE: SWCH) in a report released Tuesday morning, reports MarketBeat.com. Jefferies Financial Group currently has a price target of $ 10.00 on the stock, down from its previous price target of $ 12.00.
A number of other research companies have also recently commented on SWCH. BMO Capital Markets reaffirmed its purchase price and set a price target of $ 20.00 on Switch shares in a report released on Monday, August 13. Stifel Nicolaus lowered its switch target price from $ 15.00 to $ 13.00 and set the company's purchase rating in a report released on Tuesday, August 14th. Raymond James has demoted: go from an outperformance rating to a market performance and set a target price of $ 17.00 for the company. in a report of Monday, August 13th. William Blair reaffirmed the outperformance of Switch's share rating in a report released on Tuesday, August 14th. Finally, Citigroup has taken Switch from a neutral note in purchase note and set a target price of $ 20.00 for the company in a report released Thursday, July 19th. Eight equity research badysts gave the stock a conservation rating and six gave the company a purchase rating. The company currently has a consensus rating of Hold and a consensus target price of $ 16.35.
The NYSE SWCH sold $ 0.46 during the trading on Tuesday, reaching $ 8.65. The company's shares recorded a trading volume of 1,498,882 shares, compared with an average volume of 1,097,101. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.78 and a quick ratio of 2.78. Switch has a minimum of fifty-two weeks of $ 8.41 and a fifty-two week high of $ 20.18.
Switch (NYSE: SWCH) released its quarterly results on Monday, August 13th. The company reported earnings per share of $ 0.02 for the quarter, exceeding the consensus estimate of $ 0.04 ($ 0.02). Switch had a return on equity of 0.49% and a negative net margin of 12.35%. The company generated $ 102.20 million in sales during the quarter, compared to badysts' estimates of $ 102.78 million. In the same period last year, the company had EPS of $ 0.07. Switch's revenue is up 11.0% over the same quarter of last year. As a group, stock research badysts predict that Switch will post earnings per share of 0.11 for the current year.
In addition, the director Thomas A. Thomas bought 22,000 shares of the company during a transaction that took place on Thursday, August 30th. The shares were purchased at an average cost of $ 11.52 per share, for a total value of $ 253,440.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available on the SEC's website. The largest shareholder, Intel Capital Corp., sold 1,727,555 shares of the company in a deal that took place on Thursday, September 20th. The shares were sold at an average price of $ 10.98, for a total value of $ 18,968,553.90. The disclosure of this sale can be found here. Insiders sold 1,918,401 shares of a company valued at $ 21,566,398 over the last ninety days. Insiders hold 12.64% of the shares of the company.
Several institutional investors have recently bought and sold shares in the company. Wells Fargo & Company MN increased its position in Switch shares by 47.1% in the second quarter. Wells Fargo & Company MN now holds 6,479,394 shares valued at $ 78,855,000 after purchasing 2,074,569 additional shares in the last quarter. Sylebra HK Co Ltd increased its position in switch shares by 509.6% in the second quarter. Sylebra HK Co Ltd now holds 5,347,615 shares valued at $ 65,080,000 after purchasing 4,470,378 additional shares in the last quarter. TPG Group Holdings SBS Advisors Inc. acquired a new equity interest in switch shares in the second quarter, valued at approximately $ 29,370,000. American Assets Capital Advisers LLC increased its position in Switch shares by 61.2% in the third quarter. American Assets Capital Advisers LLC now holds 2,225,025 shares valued at $ 24,031,000 after purchasing an additional 844,630 shares during the last quarter. Finally, Intel Corp acquired a new equity interest in Switch shares during the second quarter, valued at approximately $ 21,024,000. Institutional investors and hedge funds own 18.09% of the company's shares.
Change of company profile
Switch, Inc., through its subsidiary Switch, Ltd., provides colocation spaces and related services to technology and digital media companies, cloud and managed service providers, financial institutions and service providers. telecommunications leading essential activities on the Internet. The company develops and operates data centers in Nevada, Michigan and Georgia.
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