CyrusOne Inc (NASDAQ:CONE) had its price target boosted by equities researchers at Morgan Stanley from $63.00 to $70.00 in a research note issued on Friday. The brokerage currently has an “overweight” rating on the real estate investment trust’s stock. Morgan Stanley’s price target would suggest a potential upside of 11.54% from the stock’s current price.

A number of other analysts also recently issued reports on the company. Royal Bank Of Canada reissued a “buy” rating on shares of CyrusOne in a research report on Friday, July 28th. Cowen and Company reissued a “buy” rating and issued a $72.00 target price on shares of CyrusOne in a research report on Friday, July 28th. Jefferies Group LLC reissued a “buy” rating and issued a $63.00 target price on shares of CyrusOne in a research report on Tuesday, July 25th. Stifel Nicolaus reissued a “buy” rating and issued a $66.00 target price on shares of CyrusOne in a research report on Thursday, September 14th. Finally, Deutsche Bank AG reissued a “buy” rating and issued a $64.00 target price (up from $62.00) on shares of CyrusOne in a research report on Friday, August 11th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $63.14.

Shares of CyrusOne (CONE) opened at $62.76 on Friday. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 1.56. The company has a market capitalization of $5,678.51, a P/E ratio of 21.01, a P/E/G ratio of 1.12 and a beta of 0.81. CyrusOne has a 52-week low of $39.65 and a 52-week high of $65.73.

CyrusOne (NASDAQ:CONE) last issued its quarterly earnings results on Monday, October 30th. The real estate investment trust reported ($0.61) EPS for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($1.37). The business had revenue of $175.30 million for the quarter, compared to analysts’ expectations of $177.62 million. CyrusOne had a negative net margin of 13.60% and a negative return on equity of 3.23%. The business’s revenue was up 21.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.67 earnings per share. research analysts anticipate that CyrusOne will post 3.09 EPS for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: “CyrusOne Inc (CONE) Given New $70.00 Price Target at Morgan Stanley” was first reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this news story on another domain, it was illegally copied and reposted in violation of U.S. and international copyright law. The legal version of this news story can be accessed at https://www.thecerbatgem.com/2017/11/17/cyrusone-inc-cone-given-new-70-00-price-target-at-morgan-stanley.html.

In related news, insider Venkatesh S. Durvasula sold 13,500 shares of CyrusOne stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $60.20, for a total transaction of $812,700.00. Following the completion of the sale, the insider now owns 214,063 shares of the company’s stock, valued at $12,886,592.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.64% of the stock is currently owned by company insiders.

Hedge funds have recently modified their holdings of the business. Perigon Wealth Management LLC increased its holdings in shares of CyrusOne by 44.8% in the second quarter. Perigon Wealth Management LLC now owns 4,525 shares of the real estate investment trust’s stock worth $254,000 after buying an additional 1,400 shares during the period. Eagle Asset Management Inc. increased its holdings in CyrusOne by 4.3% during the 2nd quarter. Eagle Asset Management Inc. now owns 304,458 shares of the real estate investment trust’s stock valued at $16,973,000 after purchasing an additional 12,507 shares during the period. Schwab Charles Investment Management Inc. increased its holdings in CyrusOne by 14.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 325,495 shares of the real estate investment trust’s stock valued at $18,147,000 after purchasing an additional 40,044 shares during the period. Utah Retirement Systems increased its holdings in CyrusOne by 16.9% during the 2nd quarter. Utah Retirement Systems now owns 16,246 shares of the real estate investment trust’s stock valued at $905,000 after purchasing an additional 2,346 shares during the period. Finally, Comerica Bank increased its holdings in CyrusOne by 6.8% during the 2nd quarter. Comerica Bank now owns 61,986 shares of the real estate investment trust’s stock valued at $3,626,000 after purchasing an additional 3,932 shares during the period. 96.36% of the stock is owned by hedge funds and other institutional investors.

CyrusOne Company Profile

CyrusOne Inc is a real estate investment trust. The Company is an owner, operator and developer of enterprise-class, carrier-neutral, multi-tenant data center properties. The Company’s data centers are generally purpose-built facilities with redundant power and cooling. The CyrusOne National IX Platform (the National IX Platform) delivers interconnection across states and between metro-enabled sites within its footprint and beyond.

Analyst Recommendations for CyrusOne (NASDAQ:CONE)

Receive News & Stock Ratings for CyrusOne Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CyrusOne Inc and related stocks with our FREE daily email newsletter.