Zayo Group Holdings, Inc. (NYSE:ZAYO) was downgraded by stock analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report issued on Saturday, July 8th.
Several other research analysts have also weighed in on the stock. Citigroup Inc. raised their price objective on shares of Zayo Group Holdings from $38.00 to $43.00 and gave the stock a “buy” rating in a report on Tuesday, April 25th. Raymond James Financial, Inc. reissued a “market perform” rating on shares of Zayo Group Holdings in a report on Wednesday, May 10th. Barclays PLC reissued an “overweight” rating and set a $38.00 price objective on shares of Zayo Group Holdings in a report on Thursday, March 30th. Goldman Sachs Group, Inc. (The) lowered shares of Zayo Group Holdings from a “conviction-buy” rating to a “buy” rating in a report on Friday, May 19th. Finally, Zacks Investment Research raised shares of Zayo Group Holdings from a “hold” rating to a “buy” rating and set a $39.00 price objective for the company in a report on Wednesday, May 3rd. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $37.85.
Shares of Zayo Group Holdings (ZAYO) opened at 32.58 on Friday. Zayo Group Holdings has a 12 month low of $27.74 and a 12 month high of $35.65. The company has a 50-day moving average of $31.50 and a 200-day moving average of $32.20. The stock has a market capitalization of $8.01 billion, a PE ratio of 250.62 and a beta of 0.56.
Zayo Group Holdings (NYSE:ZAYO) last announced its quarterly earnings data on Tuesday, May 9th. The technology company reported $0.13 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.03. The company had revenue of $550.20 million during the quarter, compared to analyst estimates of $545.63 million. Zayo Group Holdings had a net margin of 1.53% and a return on equity of 5.47%. The firm’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period last year, the business earned ($0.08) EPS. On average, equities research analysts expect that Zayo Group Holdings will post $0.39 EPS for the current fiscal year.
In related news, CEO Daniel Caruso sold 101,840 shares of Zayo Group Holdings stock in a transaction dated Thursday, July 6th. The shares were sold at an average price of $30.30, for a total value of $3,085,752.00. Following the sale, the chief executive officer now directly owns 4,645,393 shares in the company, valued at approximately $140,755,407.90. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Kenneth Desgarennes sold 1,796 shares of Zayo Group Holdings stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $30.58, for a total transaction of $54,921.68. Following the completion of the sale, the chief financial officer now owns 1,095,852 shares in the company, valued at $33,511,154.16. The disclosure for this sale can be found here. Over the last quarter, insiders sold 637,306 shares of company stock worth $20,270,946. 5.80% of the stock is currently owned by insiders.
Hedge funds have recently modified their holdings of the stock. Highbridge Capital Management LLC increased its stake in shares of Zayo Group Holdings by 5.6% in the fourth quarter. Highbridge Capital Management LLC now owns 10,018 shares of the technology company’s stock valued at $329,000 after buying an additional 533 shares in the last quarter. Teachers Advisors LLC increased its stake in Zayo Group Holdings by 5.1% in the fourth quarter. Teachers Advisors LLC now owns 146,140 shares of the technology company’s stock worth $4,802,000 after buying an additional 7,155 shares during the period. UBS Asset Management Americas Inc. increased its stake in Zayo Group Holdings by 2,273.8% in the fourth quarter. UBS Asset Management Americas Inc. now owns 307,745 shares of the technology company’s stock worth $10,112,000 after buying an additional 294,781 shares during the period. Quadrature Capital Ltd increased its stake in Zayo Group Holdings by 190.3% in the fourth quarter. Quadrature Capital Ltd now owns 50,042 shares of the technology company’s stock worth $1,644,000 after buying an additional 32,805 shares during the period. Finally, Dodge & Cox bought a new stake in Zayo Group Holdings during the fourth quarter worth approximately $478,647,000. Hedge funds and other institutional investors own 74.26% of the company’s stock.
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.