Zayo Group (ZAYO) Raised to “Outperform” at UBS

UBS upgraded shares of Zayo Group (NYSE:ZAYO) from a market perform rating to an outperform rating in a research note issued to investors on Friday, thefly.com reports.

Other equities research analysts have also recently issued research reports about the company. SunTrust Banks raised their target price on Zayo Group to $45.00 and gave the stock a buy rating in a research note on Thursday, February 8th. Barclays reaffirmed a buy rating and set a $41.00 target price on shares of Zayo Group in a research note on Friday, January 19th. Citigroup reaffirmed a buy rating on shares of Zayo Group in a research note on Thursday, December 14th. Zacks Investment Research raised Zayo Group from a hold rating to a buy rating and set a $41.00 target price for the company in a research note on Saturday, February 10th. Finally, Royal Bank of Canada reaffirmed a buy rating on shares of Zayo Group in a research note on Friday, February 9th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the stock. The company currently has an average rating of Buy and an average price target of $41.82.

NYSE ZAYO opened at $36.20 on Friday. Zayo Group has a one year low of $29.73 and a one year high of $37.95. The company has a market cap of $8,932.79, a P/E ratio of 90.50, a price-to-earnings-growth ratio of 12.86 and a beta of 0.53. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 3.73.

Zayo Group (NYSE:ZAYO) last released its earnings results on Wednesday, February 7th. The technology company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.13 by $0.10. Zayo Group had a return on equity of 10.19% and a net margin of 3.42%. The business had revenue of $653.50 million during the quarter, compared to analysts’ expectations of $650.79 million. research analysts predict that Zayo Group will post 0.56 EPS for the current fiscal year.

In other Zayo Group news, Director Richard W. Connor sold 1,037 shares of the firm’s stock in a transaction that occurred on Monday, April 2nd. The stock was sold at an average price of $34.00, for a total value of $35,258.00. Following the completion of the sale, the director now owns 148,383 shares of the company’s stock, valued at $5,045,022. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Daniel Caruso sold 17,950 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $37.76, for a total value of $677,792.00. Following the completion of the sale, the chief executive officer now directly owns 4,274,654 shares of the company’s stock, valued at approximately $161,410,935.04. The disclosure for this sale can be found here. Insiders sold 5,371,494 shares of company stock valued at $198,569,969 in the last three months. Insiders own 5.20% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Xact Kapitalforvaltning AB lifted its holdings in shares of Zayo Group by 11.3% in the fourth quarter. Xact Kapitalforvaltning AB now owns 19,765 shares of the technology company’s stock valued at $727,000 after purchasing an additional 2,013 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. lifted its holdings in shares of Zayo Group by 102.8% in the fourth quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 7,300 shares of the technology company’s stock valued at $269,000 after purchasing an additional 3,700 shares in the last quarter. Pennant Capital Management LLC lifted its holdings in shares of Zayo Group by 6.7% in the fourth quarter. Pennant Capital Management LLC now owns 1,068,438 shares of the technology company’s stock valued at $39,319,000 after purchasing an additional 66,767 shares in the last quarter. Soapstone Management L.P. bought a new position in shares of Zayo Group in the fourth quarter valued at approximately $6,254,000. Finally, Cowen Inc. lifted its holdings in shares of Zayo Group by 2,447.0% in the fourth quarter. Cowen Inc. now owns 324,100 shares of the technology company’s stock valued at $11,927,000 after purchasing an additional 311,375 shares in the last quarter. Institutional investors own 87.27% of the company’s stock.

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About Zayo Group

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.

Analyst Recommendations for Zayo Group (NYSE:ZAYO)

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