Royal Bank of Canada reiterated their buy rating on shares of Zayo Group Holdings Inc (NYSE:ZAYO) in a research report sent to investors on Friday morning. They currently have a $35.00 target price on the stock.
ZAYO has been the topic of a number of other research reports. SunTrust Banks, Inc. assumed coverage on shares of Zayo Group Holdings in a research note on Monday, December 12th. They set a buy rating and a $39.00 price target on the stock. BTIG Research reaffirmed a buy rating and set a $41.00 price target (up previously from $36.00) on shares of Zayo Group Holdings in a research note on Friday, January 20th. Zacks Investment Research downgraded shares of Zayo Group Holdings from a hold rating to a sell rating in a research note on Tuesday, January 24th. Morgan Stanley downgraded shares of Zayo Group Holdings from an overweight rating to an equal weight rating and set a $33.00 price target on the stock. in a research note on Wednesday, December 14th. Finally, Stifel Nicolaus assumed coverage on shares of Zayo Group Holdings in a research note on Friday, January 13th. They set a buy rating and a $40.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $33.67.
Shares of Zayo Group Holdings (NYSE:ZAYO) traded up 1.17% during midday trading on Friday, hitting $33.68. 2,024,455 shares of the stock were exchanged. Zayo Group Holdings has a 12 month low of $23.25 and a 12 month high of $35.65. The stock’s market cap is $8.22 billion. The firm has a 50 day moving average of $31.62 and a 200-day moving average of $31.78.
Zayo Group Holdings (NYSE:ZAYO) last released its quarterly earnings results on Thursday, February 9th. The company reported $0.08 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.08. The company had revenue of $506.70 million for the quarter, compared to the consensus estimate of $514.71 million. Zayo Group Holdings had a negative net margin of 0.74% and a positive return on equity of 1.53%. Zayo Group Holdings’s revenue was up 37.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.04) earnings per share. Equities research analysts anticipate that Zayo Group Holdings will post $0.31 EPS for the current year.
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In other Zayo Group Holdings news, CFO Kenneth Desgarennes sold 61,860 shares of the stock in a transaction dated Friday, January 6th. The shares were sold at an average price of $30.91, for a total transaction of $1,912,092.60. Following the transaction, the chief financial officer now directly owns 1,075,892 shares in the company, valued at approximately $33,255,821.72. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Christopher Morley sold 25,000 shares of the stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $32.00, for a total transaction of $800,000.00. Following the transaction, the chief operating officer now owns 424,967 shares in the company, valued at $13,598,944. The disclosure for this sale can be found here. Insiders sold a total of 429,665 shares of company stock worth $13,760,263 in the last ninety days. 5.80% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of ZAYO. Dodge & Cox acquired a new position in shares of Zayo Group Holdings during the fourth quarter valued at about $478,647,000. Norges Bank acquired a new position in shares of Zayo Group Holdings during the fourth quarter valued at about $28,348,000. Putnam Investments LLC boosted its position in shares of Zayo Group Holdings by 122.3% in the fourth quarter. Putnam Investments LLC now owns 1,216,256 shares of the company’s stock valued at $39,966,000 after buying an additional 669,081 shares during the last quarter. Sandler Capital Management acquired a new position in shares of Zayo Group Holdings during the fourth quarter valued at about $278,000. Finally, Castleark Management LLC boosted its position in shares of Zayo Group Holdings by 14.3% in the fourth quarter. Castleark Management LLC now owns 143,690 shares of the company’s stock valued at $4,722,000 after buying an additional 17,940 shares during the last quarter. Institutional investors own 67.35% of the company’s stock.
Zayo Group Holdings Company Profile
Zayo Group Holdings, Inc is a provider of bandwidth infrastructure in the United States, Canada and Europe. The Company operates in five segments, including Dark Fiber Solutions, Network Connectivity, Colocation and Cloud Infrastructure, Zayo Canada and Other. Its key products include leased dark fiber, fiber to cellular towers and small cell sites, wavelength connections, Ethernet, Internet Protocol (IP) connectivity and cloud services.
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