Zacks Investment Research lowered shares of Equinix (NASDAQ:EQIX) from a hold rating to a sell rating in a research report sent to investors on Thursday morning.

According to Zacks, “Equinix recently announced plans to open its second Bulgarian International Business Exchange (IBX) data center — SO2 — in Sofia. This will enable the company to easily penetrate into the Balkan market, with convenient access to the EU, Turkey and the Caucasus. Further, amid higher demand from cloud users, Equinix’s commitment to expand its IBX platform is commendable. However, we are concerned about the company’s growing debt burden, which will adversely affect the operating results as interest expense would go up. Also, consolidation in the telecommunications industry will likely result in low demand for colocation space, hindering the company’s growth. Also, shares of Equinix have underperformed the real estate market over the past six months.”

Several other equities research analysts also recently issued reports on EQIX. BidaskClub raised shares of Equinix from a sell rating to a hold rating in a research note on Friday, October 19th. KeyCorp began coverage on shares of Equinix in a research note on Tuesday, October 23rd. They set a sector weight rating on the stock. Jefferies Financial Group reaffirmed a hold rating and set a $454.00 price target (down previously from $460.00) on shares of Equinix in a research note on Tuesday, October 23rd. Credit Suisse Group set a $525.00 price target on shares of Equinix and gave the stock a buy rating in a research note on Friday, July 6th. Finally, BMO Capital Markets began coverage on shares of Equinix in a research note on Tuesday, July 17th. They set an outperform rating and a $526.00 price target on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating and eighteen have given a buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $507.76.

Equinix stock traded down $26.75 during midday trading on Thursday, hitting $385.22. 1,075,961 shares of the stock were exchanged, compared to its average volume of 453,168. Equinix has a 1 year low of $370.79 and a 1 year high of $495.35. The company has a market capitalization of $30.63 billion, a price-to-earnings ratio of 20.79, a price-to-earnings-growth ratio of 1.27 and a beta of 0.46. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.29 and a quick ratio of 1.29.

Equinix (NASDAQ:EQIX) last released its quarterly earnings results on Wednesday, August 8th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.93 by ($0.08). Equinix had a return on equity of 7.22% and a net margin of 5.71%. The firm had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same period last year, the firm earned $2.80 EPS. The business’s quarterly revenue was up 18.3% on a year-over-year basis. Analysts forecast that Equinix will post 18.58 earnings per share for the current fiscal year.

In other Equinix news, insider Michael Earl Campbell sold 1,316 shares of the firm’s stock in a transaction on Wednesday, September 5th. The shares were sold at an average price of $423.38, for a total transaction of $557,168.08. Following the completion of the transaction, the insider now directly owns 3,954 shares of the company’s stock, valued at approximately $1,674,044.52. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Keith D. Taylor sold 2,000 shares of the firm’s stock in a transaction on Monday, August 27th. The stock was sold at an average price of $431.65, for a total transaction of $863,300.00. Following the transaction, the chief financial officer now directly owns 21,141 shares of the company’s stock, valued at $9,125,512.65. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,566 shares of company stock valued at $1,528,778. 0.51% of the stock is owned by company insiders.

A number of hedge funds have recently made changes to their positions in EQIX. Reliance Trust Co. of Delaware boosted its holdings in shares of Equinix by 8.1% in the 2nd quarter. Reliance Trust Co. of Delaware now owns 1,662 shares of the financial services provider’s stock valued at $715,000 after buying an additional 124 shares during the period. Fieldpoint Private Securities LLC boosted its holdings in shares of Equinix by 27.0% in the 2nd quarter. Fieldpoint Private Securities LLC now owns 635 shares of the financial services provider’s stock valued at $273,000 after buying an additional 135 shares during the period. Amica Retiree Medical Trust boosted its holdings in shares of Equinix by 10.8% in the 2nd quarter. Amica Retiree Medical Trust now owns 1,497 shares of the financial services provider’s stock valued at $644,000 after buying an additional 146 shares during the period. Ladenburg Thalmann Financial Services Inc. boosted its holdings in shares of Equinix by 11.0% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,512 shares of the financial services provider’s stock valued at $631,000 after buying an additional 150 shares during the period. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its holdings in shares of Equinix by 25.7% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 757 shares of the financial services provider’s stock valued at $325,000 after buying an additional 155 shares during the period. 99.91% of the stock is owned by institutional investors.

Equinix Company Profile

Equinix, Inc (Nasdaq: EQIX) connects the world's leading businesses to their customers, employees and partners inside the most-interconnected data centers. In 52 markets across five continents, Equinix is where companies come together to realize new opportunities and accelerate their business, IT and cloud strategies.

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