Switch (SWCH) Cut to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of Switch (NYSE:SWCH) from a buy rating to a hold rating in a report published on Wednesday morning.

According to Zacks, “Switch, Inc. is a technology infrastructure company. It designs, constructs and operates hyperscale data centers. The Company is developer and operator of the SUPERNAP, data center facilities, and provides colocation, telecommunications, cloud services and content ecosystems. Switch, Inc. is based in LAS VEGAS, United States. “

A number of other equities research analysts also recently issued reports on the stock. BTIG Research started coverage on shares of Switch in a research note on Tuesday, October 31st. They issued a buy rating and a $22.00 price target on the stock. Credit Suisse Group set a $22.00 price objective on shares of Switch and gave the company a buy rating in a report on Thursday, November 30th. JPMorgan Chase & Co. assumed coverage on shares of Switch in a report on Tuesday, October 31st. They issued an overweight rating and a $22.00 price objective for the company. BMO Capital Markets assumed coverage on shares of Switch in a report on Tuesday, October 31st. They issued an outperform rating and a $23.00 price objective for the company. Finally, Jefferies Group assumed coverage on shares of Switch in a report on Tuesday, October 31st. They issued a hold rating for the company. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $21.83.

Switch (SWCH) traded down $0.01 during trading on Wednesday, hitting $17.25. 370,796 shares of the stock were exchanged, compared to its average volume of 1,041,952. Switch has a twelve month low of $15.77 and a twelve month high of $24.90. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 5.18.

Switch (NYSE:SWCH) last released its quarterly earnings results on Monday, November 13th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. The company had revenue of $97.70 million during the quarter, compared to analysts’ expectations of $95.81 million. Switch’s revenue for the quarter was up 19.6% on a year-over-year basis. research analysts forecast that Switch will post 0.02 EPS for the current year.

The firm also recently disclosed a special dividend, which was paid on Friday, December 29th. Investors of record on Monday, December 18th were issued a $0.014 dividend. The ex-dividend date of this dividend was Friday, December 15th.

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Switch Company Profile

Switch, Inc is a technology infrastructure company. The Company is developer and operator of the SUPERNAP, data center facilities, and provides colocation, telecommunications, cloud services, and content ecosystems. The Company designs, constructs and operates hyperscale data centers that address the growing challenges facing the data center industry.

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