Zayo Group Holdings Inc (ZAYO) Receives $43.00 Consensus Target Price from Brokerages

Zayo Group Holdings Inc (NYSE:ZAYO) has been assigned a consensus rating of “Buy” from the twenty brokerages that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $43.00.

ZAYO has been the topic of several recent analyst reports. ValuEngine raised shares of Zayo Group from a “hold” rating to a “buy” rating in a report on Monday, July 2nd. Jefferies Financial Group initiated coverage on shares of Zayo Group in a report on Tuesday, September 4th. They issued a “buy” rating and a $49.00 target price on the stock. Zacks Investment Research lowered shares of Zayo Group from a “hold” rating to a “sell” rating in a report on Sunday, July 8th. William Blair reissued an “outperform” rating on shares of Zayo Group in a report on Thursday, August 23rd. Finally, TheStreet raised shares of Zayo Group from a “c+” rating to a “b-” rating in a report on Friday, August 24th.

ZAYO stock traded down $0.02 during mid-day trading on Wednesday, hitting $35.11. The stock had a trading volume of 19,051 shares, compared to its average volume of 2,203,120. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 3.90. Zayo Group has a 52 week low of $32.91 and a 52 week high of $39.66. The firm has a market cap of $8.66 billion, a P/E ratio of 57.48, a P/E/G ratio of 13.01 and a beta of 0.44.

Zayo Group (NYSE:ZAYO) last released its earnings results on Wednesday, August 22nd. The technology company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.09 by $0.09. Zayo Group had a net margin of 3.91% and a return on equity of 9.97%. The firm had revenue of $657.60 million for the quarter, compared to analyst estimates of $655.78 million. During the same period last year, the firm earned $0.09 EPS. The business’s quarterly revenue was up 3.1% compared to the same quarter last year. equities analysts predict that Zayo Group will post 0.54 EPS for the current year.

In related news, Director Richard W. Connor sold 1,096 shares of Zayo Group stock in a transaction that occurred on Tuesday, July 3rd. The shares were sold at an average price of $37.41, for a total transaction of $41,001.36. Following the sale, the director now directly owns 147,281 shares in the company, valued at approximately $5,509,782.21. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Daniel Caruso sold 265,866 shares of Zayo Group stock in a transaction that occurred on Tuesday, August 14th. The stock was sold at an average price of $37.61, for a total transaction of $9,999,220.26. Following the sale, the chief executive officer now owns 471,851 shares in the company, valued at $17,746,316.11. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 297,521 shares of company stock worth $11,197,143. 5.20% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of the stock. Northern Trust Corp boosted its position in Zayo Group by 6.3% during the 2nd quarter. Northern Trust Corp now owns 1,101,082 shares of the technology company’s stock worth $40,168,000 after buying an additional 65,458 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Zayo Group by 1.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 894,569 shares of the technology company’s stock worth $32,633,000 after purchasing an additional 11,554 shares during the period. Public Employees Retirement System of Ohio lifted its position in shares of Zayo Group by 0.7% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 196,197 shares of the technology company’s stock worth $7,157,000 after purchasing an additional 1,359 shares during the period. Senator Investment Group LP lifted its position in shares of Zayo Group by 11.3% in the 2nd quarter. Senator Investment Group LP now owns 10,000,000 shares of the technology company’s stock worth $364,800,000 after purchasing an additional 1,015,000 shares during the period. Finally, California Public Employees Retirement System lifted its position in shares of Zayo Group by 29.0% in the 2nd quarter. California Public Employees Retirement System now owns 500,417 shares of the technology company’s stock worth $18,255,000 after purchasing an additional 112,451 shares during the period. Institutional investors and hedge funds own 94.66% of the company’s stock.

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.

Further Reading: How to interpret a stock’s beta number

Analyst Recommendations for Zayo Group (NYSE:ZAYO)

Receive News & Ratings for Zayo Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zayo Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply