Zayo Group (NYSE:ZAYO) had its price objective decreased by Wells Fargo & Co from $42.00 to $34.00 in a research note issued to investors on Thursday, The Fly reports. The firm currently has an “outperform” rating on the technology company’s stock. Wells Fargo & Co’s price objective would indicate a potential upside of 46.17% from the stock’s previous close.

ZAYO has been the topic of a number of other research reports. TheStreet downgraded shares of Zayo Group from a “b-” rating to a “c+” rating in a report on Tuesday, October 23rd. UBS Group downgraded shares of Zayo Group from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $45.00 to $32.00 in a report on Thursday. Jefferies Financial Group started coverage on shares of Zayo Group in a report on Tuesday, September 4th. They issued a “buy” rating and a $49.00 price objective on the stock. William Blair reissued an “outperform” rating on shares of Zayo Group in a report on Thursday, August 23rd. Finally, BTIG Research downgraded shares of Zayo Group from a “buy” rating to a “neutral” rating in a report on Thursday. Two analysts have rated the stock with a sell rating, two have given a hold rating and fifteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $38.64.

Shares of ZAYO stock opened at $23.26 on Thursday. Zayo Group has a 52 week low of $22.00 and a 52 week high of $39.66. The company has a market capitalization of $7.42 billion, a PE ratio of 38.13, a P/E/G ratio of 11.28 and a beta of 0.64. The company has a debt-to-equity ratio of 3.90, a current ratio of 1.02 and a quick ratio of 1.02.

Zayo Group (NYSE:ZAYO) last posted its quarterly earnings data on Wednesday, November 7th. The technology company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.03). The business had revenue of $641.10 million during the quarter, compared to analysts’ expectations of $647.21 million. Zayo Group had a return on equity of 9.97% and a net margin of 3.91%. The business’s quarterly revenue was down .3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.09 EPS. Equities research analysts anticipate that Zayo Group will post 0.53 EPS for the current fiscal year.

In other Zayo Group news, CFO Matt Steinfort sold 2,430 shares of Zayo Group stock in a transaction that occurred on Thursday, October 4th. The shares were sold at an average price of $34.14, for a total transaction of $82,960.20. Following the transaction, the chief financial officer now owns 17,250 shares of the company’s stock, valued at $588,915. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Daniel Caruso sold 265,866 shares of Zayo Group stock in a transaction that occurred on Tuesday, August 14th. The shares were sold at an average price of $37.61, for a total transaction of $9,999,220.26. Following the transaction, the chief executive officer now directly owns 471,851 shares in the company, valued at approximately $17,746,316.11. The disclosure for this sale can be found here. Insiders have sold 609,250 shares of company stock worth $20,215,335 in the last ninety days. Insiders own 4.50% of the company’s stock.

A number of large investors have recently modified their holdings of the business. Steward Partners Investment Advisory LLC purchased a new position in shares of Zayo Group in the third quarter worth $128,000. Signition LP purchased a new position in shares of Zayo Group in the third quarter worth $264,000. IFM Investors Pty Ltd purchased a new position in shares of Zayo Group in the second quarter worth $275,000. HL Financial Services LLC purchased a new position in shares of Zayo Group in the second quarter worth $314,000. Finally, Highland Capital Management LP purchased a new position in shares of Zayo Group in the second quarter worth $348,000. 94.97% of the stock is currently owned by institutional investors and hedge funds.

Zayo Group Company Profile

Zayo Group Holdings, Inc, through its subsidiaries, provides bandwidth infrastructure solutions for the communications industry in the United States, Canada, and Europe. The company operates in six segments: Fiber Solutions, Transport, Enterprise Networks, Zayo Colocation (zColo), Allstream, and Other.

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Analyst Recommendations for Zayo Group (NYSE:ZAYO)

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