Zayo Group Holdings, Inc. (ZAYO) Rating Increased to Hold at BidaskClub
Zayo Group Holdings, Inc. (NYSE:ZAYO) was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Friday.
Several other research firms have also issued reports on ZAYO. TheStreet upgraded shares of Zayo Group Holdings from a “c” rating to a “b-” rating in a research note on Tuesday, October 17th. UBS AG assumed coverage on shares of Zayo Group Holdings in a research note on Tuesday, October 17th. They issued a “buy” rating for the company. Oppenheimer Holdings, Inc. reiterated a “buy” rating and issued a $42.00 target price on shares of Zayo Group Holdings in a research note on Wednesday, September 13th. Stifel Nicolaus reiterated a “buy” rating on shares of Zayo Group Holdings in a research note on Tuesday, August 22nd. Finally, Cowen and Company reiterated a “buy” rating on shares of Zayo Group Holdings in a research note on Friday, August 11th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company’s stock. Zayo Group Holdings presently has a consensus rating of “Hold” and an average price target of $38.50.
Zayo Group Holdings (NYSE:ZAYO) opened at 36.52 on Friday. The company has a 50-day moving average of $34.75 and a 200-day moving average of $33.16. Zayo Group Holdings has a 52-week low of $29.30 and a 52-week high of $36.77. The company has a market cap of $9.00 billion, a P/E ratio of 104.34 and a beta of 0.55.
Zayo Group Holdings (NYSE:ZAYO) last announced its quarterly earnings results on Monday, August 21st. The technology company reported $0.13 EPS for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.02). The business had revenue of $638.00 million for the quarter, compared to the consensus estimate of $642.67 million. Zayo Group Holdings had a net margin of 3.90% and a return on equity of 7.48%. The business’s revenue for the quarter was up 25.8% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.13) EPS. On average, equities research analysts expect that Zayo Group Holdings will post $0.61 earnings per share for the current fiscal year.
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In other news, CFO Matt Steinfort sold 812 shares of the company’s stock in a transaction that occurred on Wednesday, October 4th. The stock was sold at an average price of $34.95, for a total transaction of $28,379.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Daniel Caruso sold 58,634 shares of the company’s stock in a transaction that occurred on Wednesday, October 4th. The stock was 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. Over the last three months, insiders sold 5,617,498 shares of company stock worth $192,225,997. 5.20% of the stock is owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. Mutual of America Capital Management LLC purchased a new stake in shares of Zayo Group Holdings during the 2nd quarter worth approximately $142,000. Neuberger Berman Group LLC purchased a new stake in shares of Zayo Group Holdings during the 1st quarter worth approximately $203,000. Gilder Gagnon Howe & Co. LLC raised its holdings 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 acquiring an additional 122 shares in the last quarter. Comerica Bank raised its holdings in shares of Zayo Group Holdings by 3.7% during the 1st quarter. Comerica Bank now owns 6,702 shares of the technology company’s stock worth $233,000 after acquiring an additional 238 shares in the last quarter. Finally, Achmea Investment Management B.V. purchased a new stake in shares of Zayo Group Holdings during the 1st quarter worth approximately $235,000. 78.91% of the stock is currently owned by institutional investors and hedge funds.
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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