RBC Capital Markets Reiterates Outperform Rating for Rackspace Hosting Inc. (RAX)
A number of large investors have bought and sold shares of RAX. Bank of Montreal Can acquired a new stake in Rackspace Hosting during the second quarter valued at approximately $46,435,000. PGGM Investments increased its stake in Rackspace Hosting by 653.0% in the second quarter. PGGM Investments now owns 1,375,145 shares of the hosting company's stock valued at $28,686,000 after buying an additional 1,192,533 shares in the last quarter. Norges Bank acquired a new stake in Rackspace Hosting during the fourth quarter valued at approximately $29,042,000. Acadian Asset Management LLC increased its stake in Rackspace Hosting by 38.9% in the second quarter. Acadian Asset Management LLC now owns 3,791,560 shares of the hosting company's stock valued at $79,095,000 after buying an additional 1,062,606 shares in the last quarter. Finally, Sirios Capital Management L P acquired a new stake in Rackspace Hosting during the fourth quarter valued at approximately $23,920,000.
RAX has been the topic of several other reports. Vetr raised shares of Rackspace Hosting from a "hold" rating to a "strong-buy" rating and set a $27.56 price target on the stock in a research report on Tuesday, April 19th. Zacks Investment Research lowered shares of Rackspace Hosting from a "hold" rating to a "sell" rating in a research report on Wednesday, July 20th. Raymond James Financial Inc. lowered shares of Rackspace Hosting from a "strong-buy" rating to an "outperform" rating and dropped their price target for the stock from $28.00 to $25.00 in a research report on Tuesday, May 10th. Wells Fargo & Co. reaffirmed an "outperform" rating on shares of Rackspace Hosting in a research report on Tuesday, May 10th. Finally, Jefferies Group reaffirmed a "hold" rating and set a $23.00 price target on shares of Rackspace Hosting in a research report on Wednesday, August 10th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and nine have given a buy rating to the company. Rackspace Hosting currently has a consensus rating of "Hold" and a consensus price target of $27.97.
Shares of Rackspace Hosting (NYSE:RAX) traded down 0.27% during mid-day trading on Thursday, hitting $29.17. 1,383,331 shares of the stock traded hands. Rackspace Hosting has a one year low of $15.05 and a one year high of $32.14. The company's 50 day moving average is $23.56 and its 200 day moving average is $22.45. The firm has a market capitalization of $3.67 billion and a P/E ratio of 25.68.
Rackspace Hosting (NYSE:RAX) last announced its earnings results on Monday, August 8th. The hosting company reported $0.38 EPS for the quarter, topping the Thomson Reuters' consensus estimate of $0.22 by $0.16. During the same quarter in the previous year, the company posted $0.20 EPS. The business had revenue of $489.40 million for the quarter, compared to analyst estimates of $521.07 million. The business's revenue for the quarter was up 7.0% compared to the same quarter last year. On average, equities analysts expect that Rackspace Hosting will post $1.07 EPS for the current fiscal year.
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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Source: RBC Capital Markets Reiterates Outperform Rating for Rackspace Hosting Inc. (RAX)
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