Chindata Group (NASDAQ:CD) Cut to Sell at Zacks Investment Research

Chindata Group (NASDAQ:CDGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Friday, Zacks.com reports.

According to Zacks, “Chindata Group Holdings Limited provides carrier-neutral hyperscale data center solution. The company focuses on the whole life cycle of facility planning, investment, design, construction and operation of ecosystem infrastructure in the IT industry. It operates principally 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 “outperform” rating and set a $8.30 price target for the company in a report on Monday, March 7th. Three analysts have rated the stock with a sell rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Chindata Group has a consensus rating of “Hold” and a consensus target price of $10.27.

Shares of CD traded up $0.12 during mid-day trading on Friday, reaching $7.24. The company had a trading volume of 2,445,860 shares, compared to its average volume of 2,280,912. The company’s 50-day moving average is $6.14 and its 200-day moving average is $6.30. Chindata Group has a twelve month low of $3.75 and a twelve month high of $17.18. The company has a market capitalization of $2.65 billion, a P/E ratio of 51.72 and a beta of 1.77. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.48 and a quick ratio of 1.48.

Chindata Group (NASDAQ:CDGet Rating) last posted its earnings results on Thursday, March 10th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.04. The firm had revenue of $122.67 million for the quarter, compared to analyst estimates of $119.17 million. Chindata Group had a return on equity of 3.18% and a net margin of 11.11%. During the same period in the previous year, the company posted ($0.01) earnings per share. As a group, equities analysts expect that Chindata Group will post 0.26 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of CD. Caisse DE Depot ET Placement DU Quebec grew its stake in Chindata Group by 10.2% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 15,100 shares of the company’s stock valued at $127,000 after acquiring an additional 1,400 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in Chindata Group by 13.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 16,000 shares of the company’s stock valued at $135,000 after purchasing an additional 1,900 shares during the period. US Bancorp DE purchased a new position in Chindata Group during the 3rd quarter valued at about $26,000. PNC Financial Services Group Inc. grew its position in shares of Chindata Group by 116.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,709 shares of the company’s stock worth $42,000 after buying an additional 3,616 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Chindata Group by 18.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,548 shares of the company’s stock worth $162,000 after buying an additional 3,753 shares during the last quarter. Hedge funds and other institutional investors own 19.89% of the company’s stock.

About Chindata Group (Get Rating)

Chindata Group Holdings Limited provides carrier-neutral hyper 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 colocation and rental services; and technical and consulting services.

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