Zayo Group Holdings, Inc. (ZAYO) Downgraded to “C+” at TheStreet
A number of other analysts have also recently commented on the company. Deutsche Bank AG assumed coverage on Zayo Group Holdings in a research report on Monday, August 28th. They set a hold rating for the company. BidaskClub raised Zayo Group Holdings from a sell rating to a hold rating in a report on Friday, October 20th. KeyCorp reissued a hold rating on shares of Zayo Group Holdings in a report on Wednesday, October 11th. Oppenheimer Holdings, Inc. reissued a buy rating and issued a $42.00 price objective on shares of Zayo Group Holdings in a report on Wednesday, September 13th. Finally, Barclays PLC boosted 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 given a hold rating and eleven have issued a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $38.46.
Shares of Zayo Group Holdings (NYSE ZAYO) traded up $0.38 on Monday, reaching $34.37. The company’s stock had a trading volume of 1,717,300 shares, compared to its average volume of 2,354,831. Zayo Group Holdings has a 12 month low of $29.30 and a 12 month high of $36.79. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 3.81. The firm has a market cap of $8,406.72, a PE ratio of 75.52, a P/E/G ratio of 13.83 and a beta of 0.56.
Zayo Group Holdings (NYSE:ZAYO) last issued 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). Zayo Group Holdings had a return on equity of 8.01% and a net margin of 3.99%. The firm had revenue of $638.00 million for the quarter, compared to analyst estimates of $642.67 million. During the same period in the prior year, the firm posted ($0.13) EPS. The business’s revenue was up 25.8% compared to the same quarter last year. equities research analysts predict that Zayo Group Holdings will post 0.49 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 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 transaction of $1,325,200.80. Following the completion of the sale, the chief financial officer now directly owns 1,018,044 shares in the company, valued at approximately $34,694,939.52. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Matt Steinfort sold 812 shares of the business’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 value of $28,379.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,271,311 shares of company stock valued at $180,967,923. 5.20% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the business. Hussman Strategic Advisors Inc. purchased a new stake in Zayo Group Holdings during the 3rd quarter worth approximately $1,721,000. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Zayo Group Holdings by 10.4% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 522,662 shares of the technology company’s stock worth $16,150,000 after buying an additional 49,044 shares in the last quarter. State of Wisconsin Investment Board increased its stake in Zayo Group Holdings by 38.5% during the 2nd quarter. State of Wisconsin Investment Board now owns 209,641 shares of the technology company’s stock worth $6,478,000 after buying an additional 58,230 shares in the last quarter. Cibc World Markets Corp purchased a new stake in Zayo Group Holdings during the 2nd quarter worth approximately $16,995,000. Finally, Prudential Financial Inc. increased its stake in Zayo Group Holdings by 13.0% during the 1st quarter. Prudential Financial Inc. now owns 9,600 shares of the technology company’s stock worth $316,000 after buying an additional 1,102 shares in the last quarter. Institutional investors own 78.15% 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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