Switch (NYSE:SWCH) had its price objective dropped by BMO Capital Markets from $14.00 to $10.50 in a research report issued to clients and investors on Wednesday, The Fly reports. The firm currently has an “outperform” rating on the stock. BMO Capital Markets’ price target suggests a potential upside of 29.15% from the company’s current price.

Other equities research analysts have also recently issued reports about the stock. Stifel Nicolaus decreased their price target on shares of Switch from $15.00 to $13.00 and set a “buy” rating on the stock in a research note on Tuesday, August 14th. Citigroup raised shares of Switch from a “neutral” rating to a “buy” rating and set a $20.00 price target on the stock in a research note on Thursday, July 19th. Jefferies Financial Group reaffirmed a “hold” rating and set a $10.00 price target (down from $12.00) on shares of Switch in a research note on Tuesday, October 23rd. Zacks Investment Research raised shares of Switch from a “sell” rating to a “hold” rating in a research note on Wednesday, October 17th. Finally, Raymond James cut shares of Switch from an “outperform” rating to a “market perform” rating and set a $17.00 price target on the stock. in a research note on Monday, August 13th. One research analyst has rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $15.50.

NYSE:SWCH traded down $0.31 during mid-day trading on Wednesday, hitting $8.13. 198,939 shares of the company’s stock traded hands, compared to its average volume of 1,573,999. Switch has a 1 year low of $7.00 and a 1 year high of $18.59. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.50 and a current ratio of 1.50.

Switch (NYSE:SWCH) last released its quarterly earnings results on Tuesday, November 13th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.01). Switch had a negative return on equity of 1.84% and a negative net margin of 16.29%. The firm had revenue of $102.80 million for the quarter, compared to analyst estimates of $102.84 million. During the same period in the prior year, the business earned $0.08 earnings per share. Switch’s revenue for the quarter was up 5.2% on a year-over-year basis. On average, equities analysts anticipate that Switch will post 0.08 earnings per share for the current year.

In related news, Director Thomas A. Thomas bought 22,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 30th. The shares were acquired at an average cost of $11.52 per share, with a total value of $253,440.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Intel Capital Corp sold 1,727,555 shares of the firm’s stock in a transaction that occurred on Thursday, September 20th. The stock was sold at an average price of $10.98, for a total transaction of $18,968,553.90. The disclosure for this sale can be found here. 12.64% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in SWCH. Nisa Investment Advisors LLC purchased a new position in Switch in the second quarter valued at approximately $103,000. First Republic Investment Management Inc. purchased a new position in Switch in the second quarter valued at approximately $157,000. The Manufacturers Life Insurance Company raised its holdings in Switch by 111.5% in the first quarter. The Manufacturers Life Insurance Company now owns 14,096 shares of the company’s stock valued at $224,000 after buying an additional 7,430 shares during the period. Sustainable Insight Capital Management LLC purchased a new position in Switch in the second quarter valued at approximately $173,000. Finally, Baird Financial Group Inc. purchased a new position in Switch in the second quarter valued at approximately $193,000. 16.40% of the stock is currently owned by institutional investors and hedge funds.

Switch Company Profile

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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The Fly

Analyst Recommendations for Switch (NYSE:SWCH)

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