Brokerages Set Zayo Group Holdings, Inc. (ZAYO) PT at $38.09
Shares of Zayo Group Holdings, Inc. (NYSE:ZAYO) have been assigned an average recommendation of “Hold” from the twenty brokerages that are currently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and ten have issued a buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $38.09.
A number of research firms have commented on ZAYO. BidaskClub lowered shares of Zayo Group Holdings from a “sell” rating to a “strong sell” rating in a report on Saturday, July 8th. Cowen and Company reaffirmed a “buy” rating on shares of Zayo Group Holdings in a report on Friday, August 11th. Goldman Sachs Group, Inc. (The) lowered shares of Zayo Group Holdings from a “conviction-buy” rating to a “buy” rating in a report on Friday, May 19th. William Blair reaffirmed an “ourperform” rating on shares of Zayo Group Holdings in a report on Tuesday, August 22nd. Finally, Zacks Investment Research lowered shares of Zayo Group Holdings from a “hold” rating to a “sell” rating in a report on Thursday, July 13th.
In other Zayo Group Holdings news, COO Andrew Crouch sold 18,236 shares of the business’s stock in a transaction dated Thursday, July 6th. The shares were sold at an average price of $30.18, for a total transaction of $550,362.48. Following the sale, the chief operating officer now directly owns 29,386 shares of the company’s stock, valued at approximately $886,869.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider John F. Jr. Waters sold 9,220 shares of the business’s stock in a transaction dated Thursday, July 6th. The stock was sold at an average price of $30.18, for a total transaction of $278,259.60. Following the sale, the insider now directly owns 41,586 shares in the company, valued at $1,255,065.48. The disclosure for this sale can be found here. Insiders have sold a total of 882,516 shares of company stock worth $28,761,747 over the last three months. Insiders own 5.80% of the company’s stock.
A number of large investors have recently modified their holdings of ZAYO. Russell Investments Group Ltd. lifted its position in Zayo Group Holdings by 323.3% during the 1st quarter. Russell Investments Group Ltd. now owns 130,946 shares of the technology company’s stock worth $4,308,000 after buying an additional 100,011 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD raised its holdings in shares of Zayo Group Holdings by 22.3% in the 1st quarter. Sumitomo Mitsui Asset Management Company LTD now owns 12,585 shares of the technology company’s stock valued at $414,000 after purchasing an additional 2,296 shares during the period. Commerzbank Aktiengesellschaft FI bought a new stake in shares of Zayo Group Holdings in the 1st quarter valued at about $212,000. Tyers Asset Management LLC raised its holdings in shares of Zayo Group Holdings by 113.6% in the 1st quarter. Tyers Asset Management LLC now owns 9,688 shares of the technology company’s stock valued at $319,000 after purchasing an additional 5,152 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Zayo Group Holdings by 7.3% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 473,618 shares of the technology company’s stock valued at $15,582,000 after purchasing an additional 32,296 shares during the period. 78.93% of the stock is currently owned by hedge funds and other institutional investors.
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Shares of Zayo Group Holdings (NYSE:ZAYO) traded up 0.29% during trading on Friday, reaching $34.69. The company’s stock had a trading volume of 1,582,770 shares. The company’s 50-day moving average is $33.49 and its 200-day moving average is $32.66. The company has a market capitalization of $8.55 billion, a P/E ratio of 99.11 and a beta of 0.55. Zayo Group Holdings has a 12 month low of $28.15 and a 12 month high of $35.65.
Zayo Group Holdings (NYSE:ZAYO) last released its earnings results on Monday, August 21st. The technology company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.02). Zayo Group Holdings had a return on equity of 7.48% and a net margin of 3.90%. The business had revenue of $638.00 million for the quarter, compared to analyst estimates of $642.67 million. During the same period in the prior year, the firm posted ($0.13) EPS. Zayo Group Holdings’s revenue was up 25.8% on a year-over-year basis. On average, analysts forecast that Zayo Group Holdings will post $0.59 EPS 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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