Cowen and Company restated their buy rating on shares of Zayo Group Holdings, Inc. (NYSE:ZAYO) in a research note released on Friday morning.
A number of other analysts also recently weighed in on the company. Zacks Investment Research downgraded Zayo Group Holdings from a hold rating to a sell rating in a report on Thursday. Oppenheimer Holdings, Inc. restated a buy rating and issued a $42.00 price objective on shares of Zayo Group Holdings in a report on Tuesday. BidaskClub upgraded Zayo Group Holdings from a sell rating to a hold rating in a report on Friday, October 20th. TheStreet upgraded Zayo Group Holdings from a c rating to a b- rating in a report on Tuesday, October 17th. Finally, Barclays PLC increased their price objective on Zayo Group Holdings from $36.00 to $40.00 and gave the company an overweight rating in a report on Wednesday, October 18th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $38.46.
Shares of Zayo Group Holdings (NYSE ZAYO) remained flat at $$34.02 during trading hours on Friday. The company’s stock had a trading volume of 1,823,100 shares, compared to its average volume of 2,359,937. The company has a market capitalization of $8,415.38, a price-to-earnings ratio of 75.60, a P/E/G 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 has a one year low of $29.30 and a one year high of $36.79.
Zayo Group Holdings (NYSE:ZAYO) last posted its quarterly earnings data on Monday, August 21st. The technology company reported $0.13 earnings per share for the quarter, missing the Zacks’ consensus estimate 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 net margin of 3.99% and a return on equity of 8.01%. The business’s revenue for the quarter was up 25.8% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.13) earnings per share. research analysts predict that Zayo Group Holdings will post 0.49 earnings per share for the current year.
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In other news, COO Andrew Crouch sold 22,803 shares of the stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $34.10, for a total transaction of $777,582.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Matt Steinfort sold 812 shares of the stock in a transaction dated Wednesday, October 4th. The stock was sold at an average price of $34.95, for a total transaction of $28,379.40. The disclosure for this sale can be found here. Insiders have sold 5,271,311 shares of company stock worth $180,967,923 in the last ninety days. Insiders own 5.20% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in ZAYO. Thompson Davis & CO. Inc. boosted its position in shares of Zayo Group Holdings by 2,600.0% during the 3rd quarter. Thompson Davis & CO. Inc. now owns 3,375 shares of the technology company’s stock worth $116,000 after purchasing an additional 3,250 shares in the last quarter. Mutual of America Capital Management LLC bought a new position in shares of Zayo Group Holdings during the 2nd quarter worth about $142,000. Rehmann Capital Advisory Group bought a new position in shares of Zayo Group Holdings during the 3rd quarter worth about $212,000. Gilder Gagnon Howe & Co. LLC boosted its position in shares of Zayo Group Holdings by 1.7% during the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 7,434 shares of the technology company’s stock worth $230,000 after purchasing an additional 122 shares in the last quarter. Finally, Cadence Capital Management LLC bought a new position in shares of Zayo Group Holdings during the 3rd quarter worth about $232,000. 78.62% of the stock is currently owned by institutional investors.
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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