Cyxtera Technologies, Inc. (NASDAQ:CYXT) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Cyxtera Technologies, Inc.  (NASDAQ:CYXT) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Cyxtera Technologies logoCyxtera Technologies, Inc. (NASDAQ:CYXT – Get Rating) has been given a consensus recommendation of “Moderate Buy” by the eight brokerages that are covering the company, MarketBeat reports. One analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $12.83.

Several equity analysts have recently issued reports on the company. Truist Financial decreased their target price on Cyxtera Technologies from $20.00 to $15.00 and set a “buy” rating for the company in a research report on Tuesday, September 20th. Credit Suisse Group decreased their price objective on Cyxtera Technologies to $6.00 in a research report on Thursday, October 13th. Finally, Citigroup upgraded Cyxtera Technologies from a “neutral” rating to a “buy” rating and set a $13.00 price objective for the company in a research report on Wednesday, August 24th.

Cyxtera Technologies Stock Performance

Cyxtera Technologies stock opened at $2.31 on Friday. The stock has a 50-day simple moving average of $4.05 and a 200 day simple moving average of $9.29. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 3.06. Cyxtera Technologies has a 12-month low of $2.17 and a 12-month high of $15.42. The stock has a market capitalization of $412.50 million, a price-to-earnings ratio of -1.89 and a beta of 1.07.

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Cyxtera Technologies (NASDAQ:CYXT – Get Rating) last announced its quarterly earnings data on Thursday, August 11th. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.08). The firm had revenue of $184.10 million for the quarter, compared to the consensus estimate of $185.00 million. Cyxtera Technologies had a negative return on equity of 27.18% and a negative net margin of 27.88%. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.88) earnings per share. On average, research analysts anticipate that Cyxtera Technologies will post -0.9 earnings per share for the current fiscal year.

Insider Activity at Cyxtera Technologies

In other Cyxtera Technologies news, CEO Nelson A. Fonseca, Jr. sold 32,163 shares of the company’s stock in a transaction on Monday, August 8th. The stock was sold at an average price of $12.29, for a total value of $395,283.27. Following the transaction, the chief executive officer now directly owns 296.266 shares of the company’s stock, valued at approximately $3,641,109.14. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Nelson A. Fonseca, Jr. sold 32,163 shares of the stock in a transaction on Monday, August 8th. The stock was sold at an average price of $12.29, for a total transaction of $395,283.27. Following the sale, the chief executive officer now directly owns 296,266 shares of the company’s stock, valued at approximately $3,641,109.14. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO James Randolph Rowland sold 9,885 shares of the stock in a transaction on Monday, August 8th. The stock was sold at an average price of $12.29, for a total value of $121,486.65. Following the sale, the chief operating officer now directly owns 91,052 shares in the company, valued at $1,119.029.08. The disclosure for this sale can be found here. In the last quarter, insiders have sold 147.318 shares of company stock worth $1,762,105. Company insiders own 73.20% of the company’s stock.

Institutional Trading of Cyxtera Technologies

Several large investors have recently bought and sold shares of CYXT. BC Partners Advisors LP raised its position in Cyxtera Technologies by 3.5% in the first quarter. BC Partners Advisors LP now owns 47,676,705 shares of the company’s stock valued at $582,609,000 after purchasing an additional 1,627,561 shares during the last quarter. FMR LLC raised its position in Cyxtera Technologies by 2.0% in the second quarter. FMR LLC now owns 23,816,520 shares of the company’s stock valued at $270,080,000 after purchasing an additional 473,991 shares during the last quarter. Starboard Value LP raised its position in Cyxtera Technologies by 25.7% in the first quarter. Starboard Value LP now owns 20,767,571 shares of the company’s stock valued at $253,780,000 after purchasing an additional 4,241,256 shares during the last quarter. State Street Corp raised its position in Cyxtera Technologies by 102.8% in the second quarter. State Street Corp now owns 1,168,882 shares of the company’s stock valued at $13,255,000 after purchasing an additional 592,643 shares during the last quarter. Finally, Pacer Advisors Inc. raised its position in Cyxtera Technologies by 47.4% in the third quarter. Pacer Advisors Inc. now owns 700,785 shares of the company’s stock valued at $2,859,000 after purchasing an additional 225,308 shares during the last quarter.

Cyxtera Technologies Company Profile

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Cyxtera Technologies, Inc provides various data center products and services for enterprises, service providers, and government agencies. It offers retail colocation, interconnection, deployment, and support services; and Bare Metal, an on-demand IT infrastructure solution. The company is headquartered in Coral Gables, Florida.

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Analyst Recommendations for Cyxtera Technologies (NASDAQ:CYXT)

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