Zayo Group Holdings, Inc. (NYSE:ZAYO) was upgraded by research analysts at BidaskClub from a “sell” rating to a “hold” rating in a report issued on Friday.
A number of other brokerages have also recently commented on ZAYO. Zacks Investment Research upgraded Zayo Group Holdings from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a research note on Wednesday, May 3rd. Raymond James Financial, Inc. restated a “market perform” rating on shares of Zayo Group Holdings in a research note on Wednesday, May 10th. J P Morgan Chase & Co cut Zayo Group Holdings from an “overweight” rating to a “neutral” rating and boosted their price objective for the stock from $35.00 to $36.00 in a research note on Wednesday, May 10th. Citigroup Inc. boosted their price objective on Zayo Group Holdings from $38.00 to $43.00 and gave the stock a “buy” rating in a research note on Tuesday, April 25th. Finally, Cowen and Company restated an “outperform” rating on shares of Zayo Group Holdings in a research note on Wednesday, April 19th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the stock. Zayo Group Holdings currently has a consensus rating of “Hold” and a consensus price target of $37.85.
Zayo Group Holdings (NYSE:ZAYO) traded down 0.32% during trading on Friday, reaching $34.06. The company had a trading volume of 299,766 shares. The company has a market capitalization of $8.37 billion, a P/E ratio of 262.00 and a beta of 0.56. Zayo Group Holdings has a 12 month low of $27.74 and a 12 month high of $35.65. The firm’s 50 day moving average is $31.69 and its 200-day moving average is $32.26.
Zayo Group Holdings (NYSE:ZAYO) last issued its earnings results on Tuesday, May 9th. The technology company reported $0.13 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.10 by $0.03. Zayo Group Holdings had a return on equity of 5.47% and a net margin of 1.53%. The firm had revenue of $550.20 million for the quarter, compared to analysts’ expectations of $545.63 million. During the same quarter last year, the firm earned ($0.08) earnings per share. The firm’s revenue for the quarter was up 15.1% compared to the same quarter last year. On average, equities analysts expect that Zayo Group Holdings will post $0.39 earnings per share for the current year.
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In other news, insider John F. Jr. Waters sold 9,220 shares of Zayo Group Holdings 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 of the company’s stock, valued at $1,255,065.48. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Kenneth Desgarennes sold 38,885 shares of Zayo Group Holdings stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $31.82, for a total value of $1,237,320.70. Following the sale, the chief financial officer now directly owns 1,084,688 shares in the company, valued at $34,514,772.16. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 637,306 shares of company stock worth $20,270,946. Corporate insiders own 5.80% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Point72 Asia Hong Kong Ltd purchased a new stake in shares of Zayo Group Holdings during the first quarter valued at $151,000. Daiwa Securities Group Inc. raised its stake in shares of Zayo Group Holdings by 475.0% in the first quarter. Daiwa Securities Group Inc. now owns 4,600 shares of the technology company’s stock valued at $151,000 after buying an additional 3,800 shares in the last quarter. Nordea Investment Management AB raised its stake in shares of Zayo Group Holdings by 6.8% in the first quarter. Nordea Investment Management AB now owns 5,240 shares of the technology company’s stock valued at $172,000 after buying an additional 335 shares in the last quarter. Meadow Creek Investment Management LLC raised its stake in shares of Zayo Group Holdings by 113.6% in the first quarter. Meadow Creek Investment Management LLC now owns 5,536 shares of the technology company’s stock valued at $182,000 after buying an additional 2,944 shares in the last quarter. Finally, Neuberger Berman Group LLC purchased a new stake in shares of Zayo Group Holdings during the first quarter valued at $203,000. 74.40% of the stock is owned by hedge funds and other institutional investors.
Zayo Group Holdings 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.
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