Zayo Group Holdings, Inc. (NYSE:ZAYO)‘s stock had its “buy” rating reiterated by analysts at Cowen and Company in a research report issued to clients and investors on Friday.
ZAYO has been the subject of several other reports. UBS AG began coverage on Zayo Group Holdings in a research note on Tuesday, October 17th. They issued a “buy” rating for the company. Zacks Investment Research lowered Zayo Group Holdings from a “hold” rating to a “sell” rating in a research note on Thursday, July 13th. TheStreet upgraded Zayo Group Holdings from a “c” rating to a “b-” rating in a research note on Tuesday, October 17th. BidaskClub upgraded Zayo Group Holdings from a “sell” rating to a “hold” rating in a research note on Friday, October 20th. Finally, Stifel Nicolaus reiterated a “buy” rating on shares of Zayo Group Holdings in a research note on Tuesday, August 22nd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $38.46.
Zayo Group Holdings (ZAYO) opened at $34.02 on Friday. Zayo Group Holdings has a 1-year low of $29.30 and a 1-year high of $36.79. The firm has a market capitalization of $8,415.38, a price-to-earnings ratio of 75.60, a PEG ratio of 13.85 and a beta of 0.56. The company has a debt-to-equity ratio of 3.81, a current ratio of 0.91 and a quick ratio of 0.83.
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 the Thomson Reuters’ consensus estimate of $0.15 by ($0.02). The business had revenue of $638.00 million during the quarter, compared to analyst estimates of $642.67 million. Zayo Group Holdings had a net margin of 3.99% and a return on equity of 8.01%. The business’s revenue for the quarter was up 25.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.13) earnings per share. equities research analysts anticipate that Zayo Group Holdings will post 0.49 EPS for the current year.
In other Zayo Group Holdings news, CFO Kenneth Desgarennes sold 38,885 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $34.08, for a total transaction of $1,325,200.80. Following the sale, the chief financial officer now owns 1,018,044 shares in the company, valued at $34,694,939.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Matt Steinfort sold 812 shares of the company’s stock in a transaction that occurred on Wednesday, October 4th. The shares were sold at an average price of $34.95, for a total value of $28,379.40. The disclosure for this sale can be found here. Insiders sold 5,271,311 shares of company stock valued at $180,967,923 in the last three months. 5.20% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Zayo Group Holdings by 10.4% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 522,662 shares of the technology company’s stock valued at $16,150,000 after buying an additional 49,044 shares in the last quarter. State of Wisconsin Investment Board raised its stake in Zayo Group Holdings by 38.5% during the second quarter. State of Wisconsin Investment Board now owns 209,641 shares of the technology company’s stock valued at $6,478,000 after buying an additional 58,230 shares in the last quarter. Cibc World Markets Corp acquired a new stake in Zayo Group Holdings during the second quarter valued at approximately $16,995,000. Prudential Financial Inc. raised its stake in Zayo Group Holdings by 13.0% during the first quarter. Prudential Financial Inc. now owns 9,600 shares of the technology company’s stock valued at $316,000 after buying an additional 1,102 shares in the last quarter. Finally, Hussman Strategic Advisors Inc. acquired a new stake in Zayo Group Holdings during the third quarter valued at approximately $1,721,000. Hedge funds and other institutional investors own 78.62% of the company’s stock.
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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