Zacks Investment Research upgraded shares of Zayo Group Holdings Inc. (NYSE:ZAYO) from a hold rating to a buy rating in a research note released on Saturday. They currently have $37.00 price target on the stock.

According to Zacks, “Zayo Group Holdings, Inc. is a provider of bandwidth infrastructure services, including dark fiber, wavelengths, SONET, Ethernet, IP services, and carrier-neutral colocation and interconnection. Its customers include wireline and wireless carriers, and high-bandwidth enterprises from disaster recovery, media content, educational, financial, government, healthcare, and other industries. Zayo Group Holdings, Inc. is headquartered in Boulder, Colorado. “

Several other equities analysts also recently commented on ZAYO. Pacific Crest restated a hold rating on shares of Zayo Group Holdings in a research note on Tuesday. Goldman Sachs Group Inc. upgraded shares of Zayo Group Holdings from a buy rating to a conviction-buy rating and set a $39.00 price objective on the stock in a research note on Monday, October 31st. Stephens downgraded shares of Zayo Group Holdings from an overweight rating to an equal weight rating in a research note on Friday, August 26th. FBR & Co reiterated a hold rating on shares of Zayo Group Holdings in a research note on Friday, August 26th. Finally, William Blair reiterated an outperform rating on shares of Zayo Group Holdings in a research note on Friday, August 26th. One research analyst has rated the stock with a sell rating, five have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Zayo Group Holdings currently has an average rating of Buy and a consensus price target of $31.43.

Analyst Recommendations for Zayo Group Holdings (NYSE:ZAYO)

Shares of Zayo Group Holdings (NYSE:ZAYO) opened at 32.89 on Friday. The stock’s 50 day moving average is $31.36 and its 200 day moving average is $28.93. The firm’s market cap is $8.00 billion. Zayo Group Holdings has a 12 month low of $19.59 and a 12 month high of $33.96.

Zayo Group Holdings (NYSE:ZAYO) last released its quarterly earnings results on Tuesday, November 8th. The company reported $0.06 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.01. Zayo Group Holdings had a negative net margin of 2.44% and a negative return on equity of 0.93%. The business had revenue of $504.90 million for the quarter, compared to the consensus estimate of $511.81 million. During the same period in the prior year, the company posted ($0.06) earnings per share. Zayo Group Holdings’s revenue was up 37.6% compared to the same quarter last year. Analysts forecast that Zayo Group Holdings will post $0.26 EPS for the current fiscal year.

In other Zayo Group Holdings news, COO Christopher Morley sold 25,000 shares of the stock in a transaction that occurred on Tuesday, November 1st. The shares were sold at an average price of $32.16, for a total transaction of $804,000.00. Following the completion of the sale, the chief operating officer now owns 436,616 shares of the company’s stock, valued at approximately $14,041,570.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Daniel Caruso sold 13,000 shares of the stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $29.12, for a total transaction of $378,560.00. Following the sale, the chief executive officer now directly owns 3,539,425 shares of the company’s stock, valued at approximately $103,068,056. The disclosure for this sale can be found here. 5.80% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. Marlowe Partners LP increased its stake in Zayo Group Holdings by 12.9% in the third quarter. Marlowe Partners LP now owns 1,855,741 shares of the company’s stock worth $55,134,000 after buying an additional 211,472 shares in the last quarter. Cadian Capital Management LP increased its stake in Zayo Group Holdings by 2.6% in the third quarter. Cadian Capital Management LP now owns 5,749,067 shares of the company’s stock worth $170,805,000 after buying an additional 143,600 shares in the last quarter. Quadrature Capital Ltd increased its stake in Zayo Group Holdings by 24.5% in the third quarter. Quadrature Capital Ltd now owns 17,237 shares of the company’s stock worth $512,000 after buying an additional 3,397 shares in the last quarter. Northern Trust Corp increased its stake in Zayo Group Holdings by 25.5% in the third quarter. Northern Trust Corp now owns 494,912 shares of the company’s stock worth $14,704,000 after buying an additional 100,650 shares in the last quarter. Finally, Princeton Alpha Management LP increased its stake in Zayo Group Holdings by 201.9% in the third quarter. Princeton Alpha Management LP now owns 28,998 shares of the company’s stock worth $862,000 after buying an additional 19,394 shares in the last quarter. 52.01% of the stock is owned by institutional investors and hedge funds.

Zayo Group Holdings Company Profile

Zayo Group Holdings, Inc is a provider of bandwidth infrastructure in the United States, Canada and Europe. The Company operates in five segments, including Dark Fiber Solutions, Network Connectivity, Colocation and Cloud Infrastructure, Zayo Canada and Other. Its key products include leased dark fiber, fiber to cellular towers and small cell sites, wavelength connections, Ethernet, Internet Protocol (IP) connectivity and cloud services.

5 Day Chart for NYSE:ZAYO

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