Chindata Group (NASDAQ:CD) Stock Rating Downgraded by Zacks Investment Research


Chindata Group (NASDAQ:CD – Get a Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note released Thursday to investors, Zacks.com reports.

According to Zacks, “Chindata Group Holdings Limited provides a carrier-neutral hyperscale data center solution. The company focuses on the full life cycle of facility planning, investment, design, construction and operation of ecosystem infrastructure in the IT industry. It mainly operates in China, India and Southeast Asia markets. Chindata Group Holdings Limited is based in BEIJING. “

Separately, Credit Suisse Group upgraded shares of Chindata Group from a “neutral” rating to an “outperforming” rating and set a target price of $8.30 on the stock in a Monday research note 7 march. Three analysts gave the stock a sell rating and two gave the stock a buy rating. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $10.27.

NASDAQ:CD traded down $0.32 during Thursday’s midday session, hitting $7.35. The stock recorded a trading volume of 2,674,618 shares, against an average volume of 2,413,890. The stock has a 50-day simple moving average of $6.13 and a two-hundred-day simple moving average of $6.24. The stock has a market capitalization of $2.69 billion, a PE ratio of 45.94 and a beta of 1.69. The company has a debt ratio of 0.34, a current ratio of 1.38 and a quick ratio of 1.38. Chindata Group has a 12 month minimum of $3.75 and a 12 month maximum of $16.98.

Chindata Group (NASDAQ:CD – Get Rating) last reported quarterly earnings data on Thursday, March 10. The company reported earnings per share (EPS) of $0.06 for the quarter, beating consensus analyst estimates of $0.02 by $0.04. The company posted revenue of $122.67 million for the quarter, versus $119.17 million expected by analysts. Chindata Group achieved a net margin of 11.28% and a return on equity of 3.60%. During the same period last year, the company posted ($0.01) earnings per share. Stock analysts expect Chindata Group to post EPS of 0.26 for the current year.

A number of hedge funds have recently increased or reduced their holdings in the stock. Caisse DE Dépôt ET Placement DU Québec increased its stake in Groupe Chindata by 10.2% in the third quarter. Caisse DE Dépôt ET Placement DU Quebec now owns 15,100 shares of the company valued at $127,000 after purchasing an additional 1,400 shares last quarter. The Manufacturers Life Insurance Company increased its position in Chindata Group shares by 13.5% during the third quarter. The Manufacturers Life Insurance Company now owns 16,000 shares of the company worth $135,000 after acquiring an additional 1,900 shares in the last quarter. US Bancorp DE bought a new stake in shares of Chindata Group during the third quarter for a value of approximately $26,000. PNC Financial Services Group Inc. increased its position in Chindata Group shares by 116.9% during the first quarter. PNC Financial Services Group Inc. now owns 6,709 shares of the company worth $42,000 after acquiring 3,616 additional shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Chindata Group shares by 18.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,548 shares of the company worth $162,000 after acquiring 3,753 additional shares in the last quarter. Institutional investors and hedge funds own 19.89% of the company’s shares.

Chindata Group Company Profile (Get a rating)

Chindata Group Holdings Limited provides carrier-independent large-scale data center solutions in China, India and Southeast Asia. It offers artificial intelligence, cloud computing, smart cities and homes, online entertainment and other on-demand services. The company also provides Internet data center rental and colocation services; and technical and consulting services.

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