Oppenheimer Holdings, Inc. restated their buy rating on shares of Zayo Group Holdings, Inc. (NYSE:ZAYO) in a research report report published on Wednesday. Oppenheimer Holdings, Inc. currently has a $42.00 price target on the technology company’s stock.
Several other research firms have also commented on ZAYO. Pacific Crest restated 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 note on Friday, August 11th. Goldman Sachs Group, Inc. (The) downgraded Zayo Group Holdings from a conviction-buy rating to a buy rating in a research note on Friday, May 19th. William Blair reaffirmed an ourperform rating on shares of Zayo Group Holdings in a research note on Tuesday, August 22nd. Finally, Deutsche Bank AG initiated coverage on Zayo Group Holdings in a research note on Monday, August 28th. They set a hold rating for the company. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Zayo Group Holdings presently has a consensus rating of Hold and a consensus price target of $38.36.
Shares of Zayo Group Holdings (NYSE ZAYO) opened at 35.27 on Wednesday. The company has a market cap of $8.69 billion, a PE ratio of 100.77 and a beta of 0.55. Zayo Group Holdings has a 1-year low of $29.10 and a 1-year high of $35.65. The firm’s 50-day moving average is $33.82 and its 200-day moving average is $32.76.
Zayo Group Holdings (NYSE:ZAYO) last released its quarterly earnings data 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). Zayo Group Holdings had a return on equity of 7.48% and a net margin of 3.90%. The company had revenue of $638.00 million during the quarter, compared to analysts’ expectations of $642.67 million. During the same quarter in the prior year, the company posted ($0.13) EPS. The company’s revenue for the quarter was up 25.8% on a year-over-year basis. On average, equities analysts forecast that Zayo Group Holdings will post $0.60 earnings per share for the current fiscal year.
In related news, CEO Daniel Caruso sold 295,078 shares of the firm’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $33.89, for a total transaction of $10,000,193.42. Following the completion of the transaction, the chief executive officer now directly owns 4,284,854 shares in the company, valued at approximately $145,213,702.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Fund X/C Lp Gtcr sold 4,700,000 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $34.35, for a total value of $161,445,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,582,516 shares of company stock valued at $190,206,747. Company insiders own 5.80% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. Mutual of America Capital Management LLC acquired a new stake in Zayo Group Holdings in the 2nd quarter valued at about $142,000. Daiwa Securities Group Inc. raised its position in Zayo Group Holdings by 475.0% in the 1st quarter. Daiwa Securities Group Inc. now owns 4,600 shares of the technology company’s stock valued at $151,000 after purchasing an additional 3,800 shares in the last quarter. Point72 Asia Hong Kong Ltd acquired a new stake in Zayo Group Holdings in the 1st quarter valued at about $151,000. Nordea Investment Management AB raised its position in Zayo Group Holdings by 6.8% in the 1st quarter. Nordea Investment Management AB now owns 5,240 shares of the technology company’s stock valued at $172,000 after purchasing an additional 335 shares in the last quarter. Finally, Meadow Creek Investment Management LLC raised its position in Zayo Group Holdings by 113.6% in the 1st quarter. Meadow Creek Investment Management LLC now owns 5,536 shares of the technology company’s stock valued at $182,000 after purchasing an additional 2,944 shares in the last quarter. Institutional investors own 78.93% 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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