Switch (SWCH) Earns Buy Rating from BMO Capital Markets
A number of other equities research analysts have also weighed in on SWCH. Stifel Nicolaus set a $13.00 price target on Switch and gave the stock a buy rating in a research note on Wednesday, November 14th. Raymond James upgraded Switch from a market perform rating to a strong-buy rating in a research report on Thursday, November 15th. Credit Suisse Group set a $14.00 target price on Switch and gave the company a buy rating in a research report on Wednesday, November 14th. William Blair reiterated an outperform rating on shares of Switch in a research report on Tuesday, November 13th. Finally, Zacks Investment Research lowered Switch from a hold rating to a sell rating in a research report on Friday, November 16th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Switch currently has an average rating of Buy and an average target price of $13.61.
Shares of SWCH stock opened at $10.66 on Tuesday. Switch has a fifty-two week low of $6.39 and a fifty-two week high of $16.23. The stock has a market cap of $2.30 billion, a PE ratio of 118.44, a price-to-earnings-growth ratio of 4.51 and a beta of 0.97. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.50 and a current ratio of 1.50.
The company also recently announced a quarterly dividend, which will be paid on Thursday, April 4th. Investors of record on Monday, March 25th will be given a $0.0294 dividend. The ex-dividend date of this dividend is Friday, March 22nd. This represents a $0.12 dividend on an annualized basis and a yield of 1.10%. This is a positive change from Switch’s previous quarterly dividend of $0.01. Switch’s dividend payout ratio is currently 66.67%.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Raymond James & Associates purchased a new stake in Switch in the fourth quarter valued at approximately $108,000. WealthPLAN Partners LLC acquired a new position in Switch in the fourth quarter valued at approximately $108,000. Raymond James Financial Services Advisors Inc. acquired a new position in Switch in the fourth quarter valued at approximately $131,000. GSA Capital Partners LLP acquired a new position in Switch in the fourth quarter valued at approximately $142,000. Finally, Squarepoint Ops LLC lifted its holdings in Switch by 30.2% in the fourth quarter. Squarepoint Ops LLC now owns 23,602 shares of the company’s stock valued at $165,000 after acquiring an additional 5,481 shares during the period. Hedge funds and other institutional investors own 19.43% of the company’s stock.
Switch, Inc, through its subsidiary, Switch, Ltd., provides colocation space and related services to technology and digital media companies, cloud and managed service providers, financial institutions, and telecommunications providers that conduct critical business on the Internet. The company develops and operates data centers in Nevada, Michigan, and Georgia.
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