Zayo Group (ZAYO) Upgraded by ValuEngine to “Hold”

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ValuEngine upgraded shares of Zayo Group (NYSE:ZAYO) from a sell rating to a hold rating in a report published on Thursday morning.

A number of other research analysts have also recently commented on the company. Zacks Investment Research cut Zayo Group from a buy rating to a hold rating in a report on Saturday, February 16th. Deutsche Bank upped their price objective on Zayo Group from $30.00 to $31.00 and gave the company a buy rating in a report on Monday, February 11th. Craig Hallum began coverage on Zayo Group in a report on Wednesday, January 23rd. They issued a buy rating and a $45.00 price objective on the stock. Finally, JPMorgan Chase & Co. upgraded Zayo Group from a neutral rating to an overweight rating and set a $25.48 price objective on the stock in a report on Wednesday, November 28th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Zayo Group has a consensus rating of Buy and an average target price of $35.32.

ZAYO traded down $0.09 during trading hours on Thursday, reaching $28.51. The company’s stock had a trading volume of 395,586 shares, compared to its average volume of 4,664,938. Zayo Group has a fifty-two week low of $20.27 and a fifty-two week high of $39.66. The stock has a market capitalization of $6.71 billion, a PE ratio of 46.74, a P/E/G ratio of 9.90 and a beta of 0.87. The company has a debt-to-equity ratio of 5.13, a quick ratio of 0.85 and a current ratio of 0.85.

Zayo Group (NYSE:ZAYO) last released its quarterly earnings data on Thursday, February 7th. The technology company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.02). Zayo Group had a net margin of 4.62% and a return on equity of 8.29%. The business had revenue of $639.10 million during the quarter, compared to analyst estimates of $641.73 million. During the same quarter in the prior year, the company posted $0.05 earnings per share. The company’s revenue was down 2.1% on a year-over-year basis. As a group, equities research analysts forecast that Zayo Group will post 0.56 earnings per share for the current fiscal year.

In other Zayo Group news, CFO Matt Steinfort sold 6,142 shares of the company’s stock in a transaction on Thursday, January 3rd. The stock was sold at an average price of $24.16, for a total transaction of $148,390.72. Following the transaction, the chief financial officer now directly owns 22,896 shares in the company, valued at $553,167.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO John F. Jr. Waters sold 5,548 shares of the company’s stock in a transaction on Thursday, January 3rd. The stock was sold at an average price of $24.16, for a total value of $134,039.68. Following the transaction, the chief technology officer now owns 87,309 shares in the company, valued at $2,109,385.44. The disclosure for this sale can be found here. Insiders have sold 16,144 shares of company stock worth $390,039 over the last 90 days. 4.50% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of ZAYO. Bank of New York Mellon Corp increased its position in shares of Zayo Group by 1.3% during the second quarter. Bank of New York Mellon Corp now owns 894,569 shares of the technology company’s stock worth $32,633,000 after acquiring an additional 11,554 shares during the period. Victory Capital Management Inc. increased its position in shares of Zayo Group by 12.6% during the third quarter. Victory Capital Management Inc. now owns 115,778 shares of the technology company’s stock worth $4,020,000 after acquiring an additional 12,985 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Zayo Group during the third quarter worth $1,194,000. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Zayo Group by 4.2% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 664,774 shares of the technology company’s stock worth $23,081,000 after acquiring an additional 26,653 shares during the period. Finally, Toronto Dominion Bank increased its position in shares of Zayo Group by 9.2% during the third quarter. Toronto Dominion Bank now owns 22,952 shares of the technology company’s stock worth $797,000 after acquiring an additional 1,937 shares during the period. 96.64% of the stock is currently owned by institutional investors and hedge funds.

Zayo Group Company Profile

Zayo Group Holdings, Inc, through its subsidiaries, provides bandwidth infrastructure solutions for the communications industry in the United States, Canada, and Europe. The company operates in six segments: Fiber Solutions, Transport, Enterprise Networks, Zayo Colocation (zColo), Allstream, and Other.

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Analyst Recommendations for Zayo Group (NYSE:ZAYO)

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