Equinix (NASDAQ:EQIX) Upgraded at Wolfe Research

Wolfe Research upgraded shares of Equinix (NASDAQ:EQIX) from a peer perform rating to an outperform rating in a research report released on Thursday, MarketBeat Ratings reports. Wolfe Research currently has $978.00 price objective on the financial services provider’s stock.

EQIX has been the subject of several other research reports. Moffett Nathanson upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 5th. Citizens Jmp upgraded shares of Equinix to a “strong-buy” rating in a research note on Monday, January 27th. Royal Bank of Canada increased their target price on Equinix from $936.00 to $1,025.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Wells Fargo & Company reduced their price target on Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. Finally, Barclays increased their price objective on Equinix from $822.00 to $834.00 and gave the stock an “equal weight” rating in a report on Thursday, March 20th. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $1,007.59.

Equinix Stock Down 2.7 %

Equinix stock opened at $803.00 on Thursday. The firm has a 50 day moving average price of $895.96 and a 200-day moving average price of $908.73. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.19. Equinix has a twelve month low of $684.14 and a twelve month high of $994.03. The company has a market capitalization of $78.16 billion, a P/E ratio of 93.92, a P/E/G ratio of 1.78 and a beta of 0.74.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share for the quarter, beating the consensus estimate of $2.75 by $5.17. Equinix had a return on equity of 6.31% and a net margin of 9.32%. As a group, equities analysts predict that Equinix will post 33.1 EPS for the current year.

Equinix Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th were issued a $4.69 dividend. This is a boost from Equinix’s previous quarterly dividend of $4.26. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date was Wednesday, February 26th. Equinix’s dividend payout ratio is presently 219.42%.

Insider Activity at Equinix

In other news, Chairman Charles J. Meyers sold 5,788 shares of Equinix stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $909.81, for a total value of $5,265,980.28. Following the transaction, the chairman now owns 15,233 shares in the company, valued at approximately $13,859,135.73. The trade was a 27.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Adaire Fox-Martin sold 1,370 shares of the stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $909.51, for a total value of $1,246,028.70. Following the sale, the chief executive officer now owns 4,329 shares of the company’s stock, valued at $3,937,268.79. This represents a 24.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,054 shares of company stock valued at $17,466,950. Corporate insiders own 0.27% of the company’s stock.

Institutional Trading of Equinix

Several hedge funds and other institutional investors have recently bought and sold shares of EQIX. Inspire Trust Co. N.A. increased its stake in shares of Equinix by 0.7% in the third quarter. Inspire Trust Co. N.A. now owns 1,700 shares of the financial services provider’s stock worth $1,509,000 after buying an additional 11 shares during the period. Rothschild Investment LLC increased its position in shares of Equinix by 1.9% in the fourth quarter. Rothschild Investment LLC now owns 576 shares of the financial services provider’s stock valued at $543,000 after acquiring an additional 11 shares during the period. Legacy Financial Advisors Inc. raised its stake in shares of Equinix by 3.2% during the fourth quarter. Legacy Financial Advisors Inc. now owns 360 shares of the financial services provider’s stock valued at $340,000 after acquiring an additional 11 shares during the last quarter. Ritholtz Wealth Management boosted its holdings in shares of Equinix by 1.8% during the fourth quarter. Ritholtz Wealth Management now owns 671 shares of the financial services provider’s stock worth $633,000 after purchasing an additional 12 shares during the period. Finally, Great Lakes Retirement Inc. grew its stake in shares of Equinix by 1.2% in the fourth quarter. Great Lakes Retirement Inc. now owns 975 shares of the financial services provider’s stock worth $920,000 after purchasing an additional 12 shares during the last quarter. Institutional investors own 94.94% of the company’s stock.

Equinix Company Profile

Equinix (Nasdaq: EQIX) is the world's digital infrastructure company . Digital leaders harness Equinix's trusted platform to bring together and interconnect foundational infrastructure at software speed. Equinix enables organizations to access all the right places, partners and possibilities to scale with agility, speed the launch of digital services, deliver world-class experiences and multiply their value, while supporting their sustainability goals.