21Vianet Group (NASDAQ:VNET) Downgraded by Zacks Investment Research to “Hold”

21Vianet Group (NASDAQ:VNET) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Thursday, Zacks.com reports.

According to Zacks, “21Vianet Group, Inc. operates as a carrier-neutral Internet data center services provider in China. It provides hosting and related services, managed network services and cloud computing infrastructure. The Company’s infrastructure is interconnected with the networks operated by all of China’s telecommunications carriers, major non-carriers and local Internet service providers, or ISPs. 21Vianet Group, Incorporation. Its customers include Internet companies, government entities, blue-chip enterprises, and small-to mid-sized enterprises. 21Vianet Group, Inc. is headquartered in Beijing, the Peoples’ Republic of China. “

A number of other equities analysts also recently commented on the stock. JPMorgan Chase & Co. assumed coverage on shares of 21Vianet Group in a research note on Tuesday, August 17th. They set an “overweight” rating and a $27.00 target price for the company. TheStreet downgraded shares of 21Vianet Group from a “c” rating to a “d” rating in a research note on Wednesday, June 30th. Citigroup lowered their target price on shares of 21Vianet Group from $43.00 to $33.00 and set a “buy” rating for the company in a research note on Wednesday, August 25th. Finally, HSBC assumed coverage on shares of 21Vianet Group in a research note on Monday. They set a “hold” rating and a $18.50 target price for the company. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, 21Vianet Group presently has a consensus rating of “Buy” and a consensus price target of $27.70.

NASDAQ VNET traded down $0.37 on Thursday, reaching $16.56. The stock had a trading volume of 1,682 shares, compared to its average volume of 1,979,621. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of -13.80 and a beta of 0.20. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 1.02. 21Vianet Group has a 12-month low of $14.11 and a 12-month high of $44.45. The stock has a fifty day moving average price of $18.43 and a two-hundred day moving average price of $21.96.

21Vianet Group (NASDAQ:VNET) last posted its quarterly earnings data on Monday, August 23rd. The information technology services provider reported $3.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $3.09. The business had revenue of $231.85 million for the quarter, compared to analyst estimates of $228.01 million. 21Vianet Group had a negative return on equity of 7.80% and a negative net margin of 10.03%. Sell-side analysts forecast that 21Vianet Group will post 0.13 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VNET. Red Door Wealth Management LLC acquired a new position in 21Vianet Group in the second quarter valued at $25,000. US Bancorp DE boosted its stake in 21Vianet Group by 51.3% in the second quarter. US Bancorp DE now owns 3,296 shares of the information technology services provider’s stock valued at $75,000 after acquiring an additional 1,117 shares in the last quarter. Ensign Peak Advisors Inc acquired a new stake in shares of 21Vianet Group during the second quarter worth about $162,000. Verdence Capital Advisors LLC acquired a new stake in shares of 21Vianet Group during the second quarter worth about $201,000. Finally, Cubist Systematic Strategies LLC boosted its stake in shares of 21Vianet Group by 1,061.0% during the second quarter. Cubist Systematic Strategies LLC now owns 8,986 shares of the information technology services provider’s stock worth $206,000 after buying an additional 8,212 shares during the period. Institutional investors own 68.96% of the company’s stock.

About 21Vianet Group

21Vianet Group, Inc is a holding company, which engages in the provision of carrier-neutral internet data center services. Its services include interconnectivity, colocation or data center managed hosting services, and cloud services. The company was founded by Sheng Chen and Jun Zhang on October 16, 1999 and is headquartered in Beijing, China.

Featured Story: How Does the Quiet Period Work?

Get a free copy of the Zacks research report on 21Vianet Group (VNET)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for 21Vianet Group (NASDAQ:VNET)

Receive News & Ratings for 21Vianet Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for 21Vianet Group and related companies with MarketBeat.com's FREE daily email newsletter.