Equinix (NASDAQ:EQIX) Raised to “Strong-Buy” at BidaskClub
Other equities research analysts have also recently issued reports about the company. Credit Suisse Group set a $556.00 target price on Equinix and gave the company a buy rating in a report on Thursday, July 11th. Argus began coverage on Equinix in a report on Monday, June 3rd. They issued a buy rating and a $550.00 price objective for the company. UBS Group increased their price objective on Equinix from $510.00 to $560.00 and gave the stock a buy rating in a report on Thursday, August 1st. Guggenheim increased their price objective on Equinix from $505.00 to $540.00 and gave the stock a sell rating in a report on Tuesday, July 2nd. Finally, Citigroup increased their price objective on Equinix from $508.00 to $527.00 and gave the stock a buy rating in a report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $527.21.
Shares of EQIX stock opened at $555.73 on Friday. The stock has a market capitalization of $44.94 billion, a PE ratio of 26.86, a P/E/G ratio of 1.81 and a beta of 0.73. Equinix has a 1-year low of $335.29 and a 1-year high of $557.96. The business has a 50-day moving average of $521.27 and a 200 day moving average of $474.47. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.59 and a quick ratio of 1.59.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 21st will be issued a $2.46 dividend. This represents a $9.84 annualized dividend and a yield of 1.77%. The ex-dividend date is Tuesday, August 20th. Equinix’s dividend payout ratio (DPR) is currently 47.56%.
In other news, Director Camp Peter Van sold 3,191 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $549.78, for a total value of $1,754,347.98. Following the completion of the transaction, the director now owns 4,024 shares in the company, valued at approximately $2,212,314.72. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Michael Earl Campbell sold 250 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $525.00, for a total value of $131,250.00. Following the completion of the transaction, the insider now owns 2,078 shares of the company’s stock, valued at approximately $1,090,950. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,786 shares of company stock valued at $4,156,774. 0.49% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in EQIX. Nuveen Asset Management LLC lifted its stake in shares of Equinix by 195.3% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,038,360 shares of the financial services provider’s stock valued at $523,634,000 after purchasing an additional 686,771 shares during the period. BlackRock Inc. lifted its stake in shares of Equinix by 10.6% in the 1st quarter. BlackRock Inc. now owns 6,584,484 shares of the financial services provider’s stock valued at $2,983,823,000 after purchasing an additional 632,328 shares during the period. Daiwa Securities Group Inc. lifted its stake in shares of Equinix by 23.6% in the 1st quarter. Daiwa Securities Group Inc. now owns 1,314,451 shares of the financial services provider’s stock valued at $595,656,000 after purchasing an additional 250,921 shares during the period. Waddell & Reed Financial Inc. purchased a new position in shares of Equinix in the 2nd quarter valued at approximately $94,127,000. Finally, Pictet Asset Management Ltd. lifted its stake in shares of Equinix by 24.2% in the 1st quarter. Pictet Asset Management Ltd. now owns 628,200 shares of the financial services provider’s stock valued at $284,675,000 after purchasing an additional 122,286 shares during the period. Institutional investors own 95.48% of the company’s stock.
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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