Zayo Group Holdings, Inc. (ZAYO) Receives Consensus Recommendation of “Hold” from Brokerages
Zayo Group Holdings, Inc. (NYSE:ZAYO) has been assigned a consensus recommendation of “Hold” from the twenty-three analysts that are covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $38.33.
A number of brokerages have issued reports on ZAYO. BidaskClub raised Zayo Group Holdings from a “sell” rating to a “hold” rating in a research note on Friday, October 20th. TheStreet raised Zayo Group Holdings from a “c” rating to a “b-” rating in a research note on Tuesday, October 17th. Barclays PLC raised their price objective on Zayo Group Holdings from $36.00 to $40.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 18th. UBS AG initiated coverage on Zayo Group Holdings in a research note on Tuesday, October 17th. They set a “buy” rating for the company. Finally, KeyCorp reissued a “hold” rating on shares of Zayo Group Holdings in a research note on Wednesday, October 11th.
In related news, insider John F. Jr. Waters sold 9,512 shares of the company’s stock in a transaction on Tuesday, October 3rd. The shares were sold at an average price of $34.10, for a total value of $324,359.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Matt Steinfort sold 812 shares of the company’s stock in a transaction on Wednesday, October 4th. The stock was sold at an average price of $34.95, for a total transaction of $28,379.40. The disclosure for this sale can be found here. Insiders have sold a total of 5,271,311 shares of company stock valued at $180,967,923 in the last ninety days. Company insiders own 5.20% of the company’s stock.
A number of large investors have recently modified their holdings of the business. Swiss National Bank lifted its position in Zayo Group Holdings by 2.1% during the 3rd quarter. Swiss National Bank now owns 806,500 shares of the technology company’s stock worth $27,760,000 after buying an additional 16,700 shares in the last quarter. World Asset Management Inc bought a new stake in shares of Zayo Group Holdings in the 3rd quarter valued at about $293,000. Jaffetilchin Investment Partners LLC bought a new stake in shares of Zayo Group Holdings in the 3rd quarter valued at about $289,000. Tygh Capital Management Inc. raised its holdings in shares of Zayo Group Holdings by 113.9% in the 3rd quarter. Tygh Capital Management Inc. now owns 109,480 shares of the technology company’s stock valued at $3,768,000 after purchasing an additional 58,301 shares during the period. Finally, BT Investment Management Ltd raised its holdings in shares of Zayo Group Holdings by 74.7% in the 3rd quarter. BT Investment Management Ltd now owns 36,777 shares of the technology company’s stock valued at $1,266,000 after purchasing an additional 15,726 shares during the period. 78.70% of the stock is currently owned by hedge funds and other institutional investors.
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Shares of Zayo Group Holdings (ZAYO) traded down $0.44 during trading on Friday, hitting $35.62. The stock had a trading volume of 1,623,913 shares, compared to its average volume of 1,664,976. The firm has a market cap of $8,779.89, a price-to-earnings ratio of 89.05 and a beta of 0.56.
Zayo Group Holdings (NYSE:ZAYO) last posted its earnings results on Monday, August 21st. The technology company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.02). Zayo Group Holdings had a net margin of 3.90% and a return on equity of 7.48%. The business had revenue of $638.00 million during the quarter, compared to analyst estimates of $642.67 million. During the same quarter in the prior year, the business earned ($0.13) earnings per share. The firm’s revenue was up 25.8% compared to the same quarter last year. research analysts anticipate that Zayo Group Holdings will post 0.59 earnings per share for the current fiscal year.
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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