Zayo Group Holdings, Inc. (ZAYO) Rating Reiterated by Cowen and Company
Zayo Group Holdings, Inc. (NYSE:ZAYO)‘s stock had its “buy” rating reaffirmed by stock analysts at Cowen and Company in a report issued on Friday.
Several other equities research analysts have also commented on the stock. Citigroup Inc. boosted their price target on shares of Zayo Group Holdings from $38.00 to $43.00 and gave the company a “buy” rating in a report on Tuesday, April 25th. Raymond James Financial, Inc. reiterated a “market perform” rating on shares of Zayo Group Holdings in a research note on Wednesday, May 10th. Goldman Sachs Group, Inc. (The) lowered shares of Zayo Group Holdings from a “conviction-buy” rating to a “buy” rating in a research note on Friday, May 19th. Zacks Investment Research upgraded shares of Zayo Group Holdings from a “hold” rating to a “buy” rating and set a $39.00 price objective for the company in a research note on Wednesday, May 3rd. Finally, BidaskClub lowered shares of Zayo Group Holdings from a “hold” rating to a “sell” rating in a research note on Friday, June 23rd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $37.85.
Zayo Group Holdings (NYSE:ZAYO) traded down 1.02% during midday trading on Friday, hitting $33.82. 1,957,694 shares of the stock were exchanged. Zayo Group Holdings has a 12 month low of $27.74 and a 12 month high of $35.65. The firm’s 50 day moving average price is $31.76 and its 200 day moving average price is $32.27. The company has a market cap of $8.31 billion, a PE ratio of 260.15 and a beta of 0.56.
Zayo Group Holdings (NYSE:ZAYO) last posted its quarterly earnings results on Tuesday, May 9th. The technology company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.10 by $0.03. Zayo Group Holdings had a net margin of 1.53% and a return on equity of 5.47%. The business had revenue of $550.20 million during the quarter, compared to analyst estimates of $545.63 million. During the same quarter in the previous year, the business posted ($0.08) EPS. The company’s quarterly revenue was up 15.1% compared to the same quarter last year. On average, equities research analysts forecast that Zayo Group Holdings will post $0.39 earnings per share for the current fiscal year.
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In other news, CEO Daniel Caruso sold 152,900 shares of the company’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $32.70, for a total value of $4,999,830.00. Following the sale, the chief executive officer now directly owns 4,608,165 shares of the company’s stock, valued at approximately $150,686,995.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kenneth Desgarennes sold 38,885 shares of the company’s stock in a transaction on Friday, June 23rd. The shares were sold at an average price of $31.52, for a total transaction of $1,225,655.20. Following the completion of the sale, the chief financial officer now directly owns 1,055,045 shares in the company, valued at $33,255,018.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 637,306 shares of company stock worth $20,270,946. 5.80% of the stock is owned by insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. Prudential Financial Inc. increased its stake in Zayo Group Holdings by 13.0% in the first quarter. Prudential Financial Inc. now owns 9,600 shares of the technology company’s stock valued at $316,000 after buying an additional 1,102 shares during the period. Highbridge Capital Management LLC increased its stake in Zayo Group Holdings by 5.6% in the fourth quarter. Highbridge Capital Management LLC now owns 10,018 shares of the technology company’s stock valued at $329,000 after buying an additional 533 shares during the period. Xact Kapitalforvaltning AB increased its stake in Zayo Group Holdings by 19.6% in the second quarter. Xact Kapitalforvaltning AB now owns 16,758 shares of the technology company’s stock valued at $518,000 after buying an additional 2,749 shares during the period. JPMorgan Chase & Co. increased its stake in Zayo Group Holdings by 1,118.9% in the first quarter. JPMorgan Chase & Co. now owns 570,261 shares of the technology company’s stock valued at $18,762,000 after buying an additional 523,476 shares during the period. Finally, DnB Asset Management AS increased its stake in Zayo Group Holdings by 17.7% in the first quarter. DnB Asset Management AS now owns 13,995 shares of the technology company’s stock valued at $460,000 after buying an additional 2,100 shares during the period. 74.40% of the stock is currently owned by institutional investors and hedge funds.
About Zayo Group Holdings
Zayo Group Holdings, Inc provides communications infrastructure services, including fiber and bandwidth connectivity, colocation and cloud infrastructure to a range of businesses. The Company operates in five segments: Dark Fiber Solutions, Network Connectivity, Colocation and Cloud Infrastructure, Zayo Canada and Other.
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