Zayo Group Holdings’ (ZAYO) “Buy” Rating Reiterated at Cowen and Company
Other research analysts have also recently issued reports about the company. UBS AG assumed coverage on Zayo Group Holdings in a report on Tuesday, October 17th. They issued a buy rating on the stock. BidaskClub cut Zayo Group Holdings from a hold rating to a sell rating in a report on Wednesday, October 11th. Oppenheimer Holdings, Inc. reissued a buy rating and issued a $42.00 price target on shares of Zayo Group Holdings in a report on Tuesday, November 7th. William Blair reissued an ourperform rating on shares of Zayo Group Holdings in a report on Tuesday, August 22nd. Finally, Zacks Investment Research cut Zayo Group Holdings from a hold rating to a sell rating in a report on Thursday, July 13th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $38.46.
Zayo Group Holdings (ZAYO) opened at $34.02 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 3.81. Zayo Group Holdings has a twelve month low of $29.30 and a twelve month high of $36.79. The company has a market capitalization of $8,415.39, a P/E ratio of 75.60, a P/E/G ratio of 13.85 and a beta of 0.56.
Zayo Group Holdings (NYSE:ZAYO) last posted its quarterly earnings results on Monday, August 21st. The technology company reported $0.13 EPS for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.02). Zayo Group Holdings had a return on equity of 8.01% and a net margin of 3.99%. The business had revenue of $638.00 million during the quarter, compared to analysts’ expectations of $642.67 million. During the same period in the prior year, the firm posted ($0.13) earnings per share. The firm’s revenue for the quarter was up 25.8% on a year-over-year basis. analysts anticipate that Zayo Group Holdings will post 0.49 earnings per share for the current year.
In other news, CFO Matt Steinfort sold 812 shares of the business’s stock in a transaction that occurred on Wednesday, October 4th. The stock was sold at an average price of $34.95, for a total transaction of $28,379.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Richard W. Connor sold 1,200 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $34.47, for a total value of $41,364.00. Following the transaction, the director now directly owns 145,944 shares in the company, valued at approximately $5,030,689.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,271,311 shares of company stock worth $180,967,923. Corporate insiders own 5.20% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ZAYO. Carmignac Gestion bought a new position in shares of Zayo Group Holdings during the 2nd quarter valued at approximately $150,427,000. Neuberger Berman Group LLC grew its position in Zayo Group Holdings by 43,789.5% in the 2nd quarter. Neuberger Berman Group LLC now owns 2,707,985 shares of the technology company’s stock valued at $83,677,000 after acquiring an additional 2,701,815 shares during the last quarter. USS Investment Management Ltd bought a new position in Zayo Group Holdings in the 2nd quarter valued at $63,335,000. Janus Henderson Group PLC grew its position in Zayo Group Holdings by 13,304.8% in the 2nd quarter. Janus Henderson Group PLC now owns 1,420,376 shares of the technology company’s stock valued at $43,890,000 after acquiring an additional 1,409,780 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in Zayo Group Holdings by 8.9% in the 2nd quarter. Vanguard Group Inc. now owns 13,786,315 shares of the technology company’s stock valued at $425,998,000 after acquiring an additional 1,127,326 shares during the last quarter. 78.62% of the stock is currently owned by hedge funds and other institutional investors.
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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