Zayo Group Holdings, Inc. (NYSE:ZAYO) Lifted to “B-” at TheStreet

TheStreet upgraded shares of Zayo Group Holdings, Inc. (NYSE:ZAYO) from a c rating to a b- rating in a research note issued to investors on Tuesday, October 17th.

A number of other brokerages have also issued reports on ZAYO. Pacific Crest reissued an equal weight rating on shares of Zayo Group Holdings in a research report on Friday, June 23rd. BidaskClub upgraded shares of Zayo Group Holdings from a sell rating to a hold rating in a research note on Friday, August 11th. Oppenheimer Holdings, Inc. restated a buy rating and issued a $42.00 price target on shares of Zayo Group Holdings in a research note on Wednesday, September 13th. Moffett Nathanson restated a neutral rating and issued a $39.00 price target (up previously from $34.00) on shares of Zayo Group Holdings in a research note on Thursday, September 28th. Finally, Barclays PLC boosted their price target on shares of Zayo Group Holdings from $36.00 to $40.00 and gave the stock an overweight rating in a research note on Wednesday, October 18th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $38.46.

Shares of Zayo Group Holdings (ZAYO) traded down $0.41 during midday trading on Tuesday, reaching $33.99. The company’s stock had a trading volume of 987,668 shares, compared to its average volume of 1,685,047. The company has a market cap of $8,479.18, a PE ratio of 86.00, a price-to-earnings-growth 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 announced 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 firm had revenue of $638.00 million during the quarter, compared to analysts’ expectations of $642.67 million. Zayo Group Holdings had a net margin of 3.90% and a return on equity of 7.48%. The firm’s revenue for the quarter was up 25.8% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.13) EPS. equities research analysts predict that Zayo Group Holdings will post 0.59 EPS for the current fiscal year.

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In other Zayo Group Holdings news, CFO Kenneth Desgarennes sold 38,885 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $34.08, for a total transaction of $1,325,200.80. Following the transaction, the chief financial officer now directly owns 1,018,044 shares in the company, valued at $34,694,939.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Daniel Caruso sold 295,078 shares of the stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $33.89, for a total transaction of $10,000,193.42. Following the completion of the sale, the chief executive officer now owns 4,284,854 shares in the company, valued at $145,213,702.06. The disclosure for this sale can be found here. Insiders have sold 5,271,311 shares of company stock worth $180,967,923 over the last 90 days. 5.20% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Dodge & Cox grew its position in shares of Zayo Group Holdings by 0.6% in the second quarter. Dodge & Cox now owns 16,565,828 shares of the technology company’s stock valued at $511,884,000 after purchasing an additional 96,250 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Zayo Group Holdings by 8.9% in the second quarter. Vanguard Group Inc. now owns 13,786,315 shares of the technology company’s stock valued at $425,998,000 after purchasing an additional 1,127,326 shares during the last quarter. BlackRock Inc. grew its position in shares of Zayo Group Holdings by 8.7% in the second quarter. BlackRock Inc. now owns 10,207,343 shares of the technology company’s stock valued at $315,410,000 after purchasing an additional 813,652 shares during the last quarter. Carmignac Gestion acquired a new stake in shares of Zayo Group Holdings in the second quarter valued at approximately $150,427,000. Finally, State Street Corp grew its position in shares of Zayo Group Holdings by 9.6% in the second quarter. State Street Corp now owns 3,117,303 shares of the technology company’s stock valued at $96,324,000 after purchasing an additional 272,503 shares during the last quarter. Institutional investors and hedge funds own 78.62% of the company’s stock.

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.

Analyst Recommendations for Zayo Group Holdings (NYSE:ZAYO)

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