Zayo Group Holdings, Inc. (NYSE:ZAYO) had its price objective lifted by Barclays PLC from $36.00 to $40.00 in a research note issued on Wednesday, October 18th. The firm currently has an “overweight” rating on the technology company’s stock. Barclays PLC’s price target indicates a potential upside of 16.38% from the stock’s previous close.
ZAYO has been the subject of several other reports. Pacific Crest reaffirmed an “equal weight” rating on shares of Zayo Group Holdings in a research report on Friday, June 23rd. BidaskClub raised Zayo Group Holdings from a “sell” rating to a “hold” rating in a research report on Friday, August 11th. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and issued a $42.00 target price on shares of Zayo Group Holdings in a research report on Wednesday, September 13th. Moffett Nathanson reaffirmed a “neutral” rating and issued a $39.00 target price (up from $34.00) on shares of Zayo Group Holdings in a research report on Thursday, September 28th. Finally, KeyCorp reiterated a “hold” rating on shares of Zayo Group Holdings in a research note on Wednesday, October 11th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the stock. Zayo Group Holdings has an average rating of “Hold” and a consensus target price of $38.46.
Shares of Zayo Group Holdings (NYSE ZAYO) traded down $0.03 on Wednesday, hitting $34.37. The company’s stock had a trading volume of 2,453,549 shares, compared to its average volume of 1,820,000. Zayo Group Holdings has a twelve month low of $29.30 and a twelve month high of $36.79. The firm has a market cap of $8,470.00, a P/E ratio of 86.00, a PEG ratio of 11.60 and a beta of 0.56. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 3.99.
Zayo Group Holdings (NYSE:ZAYO) last issued its earnings results on Monday, August 21st. The technology company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.02). The company had revenue of $638.00 million during the quarter, compared to analyst estimates of $642.67 million. Zayo Group Holdings had a return on equity of 7.48% and a net margin of 3.90%. The firm’s revenue was up 25.8% compared to the same quarter last year. During the same period last year, the business earned ($0.13) earnings per share. equities analysts expect that Zayo Group Holdings will post 0.59 EPS for the current year.
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In other news, CFO Kenneth Desgarennes sold 38,885 shares of the business’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 value of $1,325,200.80. Following the transaction, the chief financial officer now owns 1,018,044 shares of the company’s stock, valued at $34,694,939.52. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Daniel Caruso sold 58,634 shares of the business’s stock in a transaction that occurred on Wednesday, October 4th. The shares were sold at an average price of $34.55, for a total value of $2,025,804.70. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,271,311 shares of company stock worth $180,967,923. 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. BlackRock Inc. grew its holdings in Zayo Group Holdings by 5,686.4% during the first quarter. BlackRock Inc. now owns 9,393,691 shares of the technology company’s stock worth $309,054,000 after acquiring an additional 9,231,349 shares during the period. Carmignac Gestion acquired a new position in Zayo Group Holdings during the second quarter worth $150,427,000. Neuberger Berman Group LLC grew its holdings in Zayo Group Holdings by 43,789.5% during the second quarter. Neuberger Berman Group LLC now owns 2,707,985 shares of the technology company’s stock worth $83,677,000 after acquiring an additional 2,701,815 shares during the period. USS Investment Management Ltd acquired a new position in Zayo Group Holdings during the second quarter worth $63,335,000. Finally, Vanguard Group Inc. grew its holdings in Zayo Group Holdings by 12.7% during the first quarter. Vanguard Group Inc. now owns 12,658,989 shares of the technology company’s stock worth $416,480,000 after acquiring an additional 1,428,585 shares during the period. 78.62% of the stock is currently 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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