Oppenheimer Holdings, Inc. Reaffirms “Buy” Rating for Zayo Group Holdings, Inc. (ZAYO)

Oppenheimer Holdings, Inc. reissued their buy rating on shares of Zayo Group Holdings, Inc. (NYSE:ZAYO) in a report published on Wednesday. They currently have a $42.00 price objective on the technology company’s stock.

Other equities analysts have also issued research reports about the company. Stifel Nicolaus reiterated a buy rating on shares of Zayo Group Holdings in a research note on Tuesday, August 22nd. Cowen and Company reiterated a buy rating on shares of Zayo Group Holdings in a research note on Friday, August 11th. Goldman Sachs Group, Inc. (The) lowered Zayo Group Holdings from a conviction-buy rating to a buy rating in a research note on Friday, May 19th. Pacific Crest reiterated an equal weight rating on shares of Zayo Group Holdings in a research note on Friday, June 23rd. Finally, BidaskClub upgraded Zayo Group Holdings from a sell rating to a hold rating in a research note on Friday, August 11th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $38.36.

Shares of Zayo Group Holdings (ZAYO) opened at 35.27 on Wednesday. The company has a market cap of $8.69 billion, a price-to-earnings ratio of 100.77 and a beta of 0.55. Zayo Group Holdings has a 12-month low of $29.10 and a 12-month high of $35.65. The firm’s 50-day moving average price is $33.82 and its 200 day moving average price is $32.76.

Zayo Group Holdings (NYSE:ZAYO) last released its quarterly earnings data on Monday, August 21st. The technology company reported $0.13 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.02). The company had revenue of $638.00 million for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 25.8% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.13) EPS. On average, analysts predict that Zayo Group Holdings will post $0.60 earnings per share for the current year.

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In related news, insider John F. Jr. Waters sold 9,220 shares of Zayo Group Holdings stock in a transaction dated Thursday, July 6th. The stock was sold at an average price of $30.18, for a total value of $278,259.60. Following the completion of the transaction, the insider now owns 41,586 shares in the company, valued at approximately $1,255,065.48. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Kenneth Desgarennes sold 38,885 shares of Zayo Group Holdings stock in a transaction dated Friday, June 23rd. The shares were sold at an average price of $31.52, for a total value of $1,225,655.20. Following the completion of the transaction, the chief financial officer now owns 1,055,045 shares of the company’s stock, valued at approximately $33,255,018.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,582,516 shares of company stock valued at $190,206,747. 5.80% of the stock is owned by company insiders.

Several institutional investors have recently made changes to their positions in ZAYO. Russell Investments Group Ltd. boosted its holdings in Zayo Group Holdings by 323.3% in the 1st quarter. Russell Investments Group Ltd. now owns 130,946 shares of the technology company’s stock worth $4,308,000 after buying an additional 100,011 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD boosted its holdings in Zayo Group Holdings by 22.3% in the 1st quarter. Sumitomo Mitsui Asset Management Company LTD now owns 12,585 shares of the technology company’s stock worth $414,000 after buying an additional 2,296 shares during the last quarter. Commerzbank Aktiengesellschaft FI acquired a new stake in Zayo Group Holdings in the 1st quarter worth about $212,000. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Zayo Group Holdings by 7.3% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 473,618 shares of the technology company’s stock worth $15,582,000 after buying an additional 32,296 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale acquired a new stake in Zayo Group Holdings in the 1st quarter worth about $364,000. Hedge funds and other institutional investors own 78.93% 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.

Analyst Recommendations for Zayo Group Holdings (NYSE:ZAYO)

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