21Vianet Group (VNET) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of 21Vianet Group (NASDAQ:VNET) from a buy rating to a hold rating in a report published on Thursday.

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. “

Several other analysts have also issued reports on VNET. BidaskClub raised 21Vianet Group from a sell rating to a hold rating in a report on Tuesday, July 3rd. Jefferies Financial Group assumed coverage on 21Vianet Group in a report on Tuesday, October 2nd. They set a buy rating for the company. Finally, Bank of America assumed coverage on 21Vianet Group in a report on Tuesday, September 18th. They set a buy rating for the company. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $11.00.

NASDAQ:VNET traded down $0.24 during mid-day trading on Thursday, hitting $9.27. 10,793 shares of the company traded hands, compared to its average volume of 729,616. 21Vianet Group has a one year low of $5.01 and a one year high of $11.54. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.38 and a current ratio of 2.38. The firm has a market capitalization of $1.11 billion, a PE ratio of -39.67 and a beta of 1.95.

21Vianet Group (NASDAQ:VNET) last released its quarterly earnings results on Thursday, August 16th. The information technology services provider reported ($0.01) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.01). 21Vianet Group had a positive return on equity of 2.05% and a negative net margin of 18.44%. The business had revenue of $125.18 million during the quarter. Equities analysts forecast that 21Vianet Group will post 0.01 earnings per share for the current fiscal year.

Several institutional investors have recently made changes to their positions in the company. Dorsey Wright & Associates purchased a new position in shares of 21Vianet Group in the third quarter valued at about $1,431,000. Atria Investments LLC purchased a new position in shares of 21Vianet Group in the third quarter valued at about $301,000. Jane Street Group LLC purchased a new position in shares of 21Vianet Group in the second quarter valued at about $104,000. Tower Research Capital LLC TRC lifted its position in shares of 21Vianet Group by 1,127.6% in the second quarter. Tower Research Capital LLC TRC now owns 27,953 shares of the information technology services provider’s stock valued at $271,000 after acquiring an additional 25,676 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new position in shares of 21Vianet Group in the second quarter valued at about $8,893,000. Institutional investors and hedge funds own 30.54% of the company’s stock.

About 21Vianet Group

21Vianet Group, Inc provides carrier-neutral Internet data center services to Internet companies, government entities, blue-chip enterprises, and small-to mid-sized enterprises in the People's Republic of China. It offers hosting and related services to house servers and networking equipment in its data centers, and connects them through a data transmission network; and other hosting related value-added services.

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