A number of other equities analysts also recently weighed in on ZAYO. Citigroup reiterated a buy rating on shares of Zayo Group in a report on Thursday, December 14th. BidaskClub upgraded Zayo Group from a sell rating to a hold rating in a report on Friday, October 20th. TheStreet upgraded Zayo Group from a c rating to a b- rating in a report on Tuesday, October 17th. Morgan Stanley upgraded Zayo Group from an equal weight rating to an overweight rating and upped their target price for the company from $33.00 to $40.00 in a report on Tuesday, December 12th. Finally, Oppenheimer reiterated a buy rating and issued a $42.00 target price on shares of Zayo Group in a report on Tuesday, November 7th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $39.50.
Zayo Group (ZAYO) traded up $0.35 during mid-day trading on Friday, reaching $35.98. 1,512,273 shares of the company’s stock were exchanged, compared to its average volume of 1,221,616. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 3.81. Zayo Group has a 52 week low of $29.73 and a 52 week high of $37.26. The stock has a market capitalization of $8,813.63, a price-to-earnings ratio of 97.24, a PEG ratio of 14.50 and a beta of 0.53.
In related news, CEO Daniel Caruso sold 123,738 shares of the stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $36.80, for a total value of $4,553,558.40. Following the transaction, the chief executive officer now owns 4,286,654 shares in the company, valued at $157,748,867.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Fund X/A Lp Gtcr sold 4,700,000 shares of the stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $35.90, for a total value of $168,730,000.00. The disclosure for this sale can be found here. Insiders sold 4,974,932 shares of company stock worth $178,752,336 in the last 90 days. 5.20% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in ZAYO. Schwab Charles Investment Management Inc. grew its holdings in Zayo Group by 6.1% during the second quarter. Schwab Charles Investment Management Inc. now owns 347,291 shares of the technology company’s stock valued at $10,732,000 after purchasing an additional 19,942 shares during the last quarter. Comerica Bank grew its holdings in Zayo Group by 23.1% during the second quarter. Comerica Bank now owns 8,248 shares of the technology company’s stock valued at $266,000 after purchasing an additional 1,546 shares during the last quarter. Prudential Financial Inc. grew its holdings in Zayo Group by 25.0% during the second quarter. Prudential Financial Inc. now owns 12,000 shares of the technology company’s stock valued at $371,000 after purchasing an additional 2,400 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Zayo Group by 16.8% during the second quarter. Principal Financial Group Inc. now owns 32,298 shares of the technology company’s stock valued at $998,000 after purchasing an additional 4,657 shares during the last quarter. Finally, Alliancebernstein L.P. grew its holdings in Zayo Group by 11.1% during the second quarter. Alliancebernstein L.P. now owns 98,542 shares of the technology company’s stock valued at $3,045,000 after purchasing an additional 9,863 shares during the last quarter. Institutional investors own 84.08% of the company’s stock.
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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.
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