Barclays Reaffirms Buy Rating for Zayo Group (ZAYO)
Zayo Group (NYSE:ZAYO)‘s stock had its “buy” rating reissued by stock analysts at Barclays in a research report issued to clients and investors on Friday. They currently have a $41.00 target price on the technology company’s stock. Barclays’ price objective points to a potential upside of 15.07% from the stock’s current price.
Other research analysts also recently issued reports about the company. Moffett Nathanson reaffirmed a “neutral” rating and set a $39.00 target price (up from $34.00) on shares of Zayo Group in a research note on Thursday, September 28th. KeyCorp reaffirmed a “hold” rating on shares of Zayo Group in a research note on Wednesday, October 11th. Citigroup reaffirmed a “buy” rating on shares of Zayo Group in a research note on Thursday, December 14th. BidaskClub downgraded Zayo Group from a “hold” rating to a “sell” rating in a research note on Wednesday, October 11th. Finally, Oppenheimer reaffirmed a “buy” rating and set a $42.00 target price on shares of Zayo Group in a research note on Tuesday, November 7th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have issued a buy rating to the stock. Zayo Group presently has an average rating of “Hold” and an average price target of $39.50.
Zayo Group (NYSE ZAYO) opened at $35.63 on Friday. Zayo Group has a twelve month low of $29.73 and a twelve month high of $37.26. The stock has a market capitalization of $9,048.63, a P/E ratio of 81.29, a price-to-earnings-growth ratio of 14.89 and a beta of 0.53. The company has a debt-to-equity ratio of 3.81, a current ratio of 0.91 and a quick ratio of 0.91.
In related news, major shareholder Fund X/A Lp Gtcr sold 4,700,000 shares of the stock in a transaction on Monday, November 20th. The stock was sold at an average price of $35.90, for a total value of $168,730,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Emily White acquired 43,095 shares of Zayo Group stock in a transaction that occurred on Monday, December 11th. The stock was purchased at an average cost of $34.99 per share, with a total value of $1,507,894.05. Following the completion of the purchase, the director now owns 3,906 shares in the company, valued at approximately $136,670.94. The disclosure for this purchase can be found here. Over the last three months, insiders sold 4,851,194 shares of company stock valued at $174,198,778. 5.20% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Global Endowment Management LP raised its stake in Zayo Group by 8.1% in the 2nd quarter. Global Endowment Management LP now owns 8,010 shares of the technology company’s stock valued at $247,000 after purchasing an additional 600 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Zayo Group by 9.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,018 shares of the technology company’s stock valued at $280,000 after buying an additional 775 shares in the last quarter. Navellier & Associates Inc grew its holdings in Zayo Group by 9.7% in the 2nd quarter. Navellier & Associates Inc now owns 14,261 shares of the technology company’s stock valued at $441,000 after buying an additional 1,262 shares in the last quarter. Macquarie Group Ltd. grew its holdings in Zayo Group by 2.6% in the 2nd quarter. Macquarie Group Ltd. now owns 59,400 shares of the technology company’s stock valued at $1,835,000 after buying an additional 1,500 shares in the last quarter. Finally, Comerica Bank grew its holdings in Zayo Group by 23.1% in the 2nd quarter. Comerica Bank now owns 8,248 shares of the technology company’s stock valued at $266,000 after buying an additional 1,546 shares in the last quarter. 84.08% of the stock is owned by hedge funds and other institutional investors.
TRADEMARK VIOLATION NOTICE: This story was published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this story on another domain, it was illegally copied and reposted in violation of United States and international copyright and trademark laws. The original version of this story can be accessed at https://www.thecerbatgem.com/2018/01/19/barclays-reaffirms-buy-rating-for-zayo-group-zayo.html.
Zayo Group Company Profile
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.
Receive News & Ratings for Zayo Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zayo Group and related companies with MarketBeat.com's FREE daily email newsletter.