Zacks Investment Research Downgrades Datalink Corp. (DTLK) to Sell
Datalink Corp. (NASDAQ:DTLK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.
According to Zacks, “Datalink Corporation is an information storage architect. The company analyzes, designs, implements and supports information storage infrastructures that store, protect and provide continuous access to information. Datalink’s specialized capabilities and solutions span storage area networks, network-attached storage, direct-attached storage and IP-based storage, using industry-leading hardware, software and technical services. “
DTLK has been the subject of a number of other reports. Needham & Company LLC cut Datalink Corp. from a “buy” rating to a “hold” rating in a report on Monday, November 7th. Canaccord Genuity downgraded Datalink Corp. from a “buy” rating to a “hold” rating and set a $11.25 price objective for the company. in a research report on Tuesday, November 8th.
Datalink Corp. (NASDAQ:DTLK) opened at 11.17 on Thursday. The firm has a market cap of $250.09 million, a price-to-earnings ratio of 36.86 and a beta of 0.95. The company’s 50-day moving average price is $10.37 and its 200 day moving average price is $9.19. Datalink Corp. has a 1-year low of $6.13 and a 1-year high of $11.19.
Datalink Corp. (NASDAQ:DTLK) last released its quarterly earnings results on Monday, November 7th. The company reported $0.12 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.18 by $0.06. Datalink Corp. had a return on equity of 3.89% and a net margin of 0.89%. The company earned $183.97 million during the quarter, compared to analyst estimates of $191.98 million. During the same period last year, the firm earned $0.15 earnings per share. The business’s revenue was down 7.1% compared to the same quarter last year. On average, equities analysts expect that Datalink Corp. will post $0.61 earnings per share for the current fiscal year.
Large investors have recently made changes to their positions in the stock. Alambic Investment Management L.P. increased its stake in shares of Datalink Corp. by 0.6% in the third quarter. Alambic Investment Management L.P. now owns 16,576 shares of the company’s stock worth $176,000 after buying an additional 100 shares in the last quarter. California State Teachers Retirement System increased its stake in Datalink Corp. by 0.7% in the third quarter. California State Teachers Retirement System now owns 42,523 shares of the company’s stock worth $451,000 after buying an additional 300 shares during the period. Hancock Holding Co. increased its stake in Datalink Corp. by 8.0% in the third quarter. Hancock Holding Co. now owns 15,124 shares of the company’s stock worth $160,000 after buying an additional 1,122 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake in Datalink Corp. by 0.3% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 631,410 shares of the company’s stock worth $6,699,000 after buying an additional 1,635 shares during the period. Finally, New York State Common Retirement Fund increased its stake in Datalink Corp. by 7.4% in the third quarter. New York State Common Retirement Fund now owns 29,474 shares of the company’s stock worth $313,000 after buying an additional 2,035 shares during the period. 71.43% of the stock is owned by institutional investors and hedge funds.
About Datalink Corp.
Datalink Corporation is a provider of information technology (IT) services and solutions. The Company provides a full life cycle of services, including consulting, strategy, design, deploy, manage and support. The Company leverages technology from the original equipment manufacturers (OEMs) as part of its IT solutions portfolio.
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