Rackspace Hosting Inc. (RAX) Position Boosted by JPMorgan Chase & Co.
Several other large investors also recently made changes to their positions in RAX. FIL Ltd raised its stake in shares of Rackspace Hosting by 89.5% in the fourth quarter. FIL Ltd now owns 701,150 shares of the hosting company's stock worth $17,753,000 after buying an additional 331,105 shares during the period. Sirios Capital Management L P bought a new stake in shares of Rackspace Hosting during the fourth quarter worth $23,920,000. River Road Asset Management LLC bought a new stake in shares of Rackspace Hosting during the fourth quarter worth $8,634,000. KBC Group NV raised its stake in shares of Rackspace Hosting by 768.1% in the fourth quarter. KBC Group NV now owns 166,109 shares of the hosting company's stock worth $4,206,000 after buying an additional 146,974 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Rackspace Hosting by 0.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 675,050 shares of the hosting company's stock worth $17,092,000 after buying an additional 3,824 shares during the period.
Rackspace Hosting Inc. (NYSE:RAX) traded down 0.82% during mid-day trading on Friday, hitting $23.05. 1,563,457 shares of the stock traded hands. Rackspace Hosting Inc. has a 12-month low of $15.05 and a 12-month high of $37.83. The company has a market cap of $2.90 billion and a price-to-earnings ratio of 21.44. The firm's 50-day moving average is $22.72 and its 200-day moving average is $21.98.
Rackspace Hosting (NYSE:RAX) last issued its earnings results on Monday, May 9th. The hosting company reported $0.34 earnings per share for the quarter, beating the Thomson Reuters' consensus estimate of $0.22 by $0.12. During the same period in the previous year, the firm earned $0.20 EPS. The firm earned $518 million during the quarter, compared to analysts' expectations of $519.08 million. The firm's revenue was up 7.9% on a year-over-year basis. Equities research analysts expect that Rackspace Hosting Inc. will post $1.09 EPS for the current year.
A number of equities research analysts have recently weighed in on the stock. Vetr lowered shares of Rackspace Hosting from a "strong-buy" rating to a "buy" rating and set a $27.60 price objective on the stock. in a report on Wednesday, June 1st. Wells Fargo & Co. reissued a "buy" rating on shares of Rackspace Hosting in a report on Saturday, June 4th. Zacks Investment Research lowered shares of Rackspace Hosting from a "hold" rating to a "sell" rating in a report on Wednesday, April 20th. Oppenheimer Holdings Inc. reaffirmed a "buy" rating on shares of Rackspace Hosting in a report on Tuesday, May 10th. Finally, Royal Bank Of Canada reaffirmed a "buy" rating and issued a $26.00 price target on shares of Rackspace Hosting in a report on Tuesday, May 10th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Ra ckspace Hosting currently has an average rating of "Hold" and an average target price of $29.98.
Rackspace Hosting, Inc (Rackspace) operates in the managed cloud segment of the business information technology (IT) market. The Company offers a portfolio of integrated IT solutions for common business needs. The Company offers services for certain applications, including e-commerce and Web content management sites, business-productivity applications, such as e-mail and collaboration, and data stores.
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