Schwab Charles Investment Management Inc. acquired a new stake in shares of Switch (NYSE:SWCH) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 81,669 shares of the company’s stock, valued at approximately $1,486,000.
Shares of Switch (NYSE:SWCH) opened at $15.22 on Monday. 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 has a 12 month low of $13.34 and a 12 month high of $24.90.
Several analysts have recently issued reports 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 research note on Wednesday, February 7th. Zacks Investment Research raised shares of Switch from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research note on Thursday, January 11th. Raymond James Financial raised shares of Switch from a “market perform” rating to an “outperform” rating in a research note on Monday, March 12th. Cowen assumed coverage on shares of Switch in a research note on Friday, January 19th. They set an “underweight” rating for the company. Finally, UBS raised shares of Switch from a “market perform” rating to an “outperform” rating in a research note on Monday, March 12th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the stock. Switch presently has an average rating of “Buy” and an average target price of $21.83.
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, government agencies, and telecommunications providers that conduct critical business on the Internet.
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