Zayo Group (NYSE:ZAYO) was upgraded by stock analysts at Moffett Nathanson from a “neutral” rating to a “buy” rating in a note issued to investors on Monday.
A number of other research analysts have also recently weighed in on the stock. Jefferies Financial Group initiated coverage on shares of Zayo Group in a research note on Tuesday, September 4th. They set a “buy” rating and a $49.00 target price on the stock. ValuEngine cut shares of Zayo Group from a “buy” rating to a “hold” rating in a research note on Thursday, August 23rd. Zacks Investment Research cut shares of Zayo Group from a “hold” rating to a “sell” rating in a research note on Sunday, July 8th. William Blair restated an “outperform” rating on shares of Zayo Group in a research note on Thursday, August 23rd. Finally, TheStreet upgraded shares of Zayo Group from a “c+” rating to a “b-” rating in a research note on Friday, August 24th. One analyst has rated the stock with a sell rating, two have given a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $43.22.
Shares of ZAYO traded up $0.63 during trading hours on Monday, reaching $31.58. 74,079 shares of the stock traded hands, compared to its average volume of 2,472,074. The company has a debt-to-equity ratio of 3.90, a quick ratio of 1.02 and a current ratio of 1.02. Zayo Group has a 52-week low of $30.34 and a 52-week high of $39.66. The stock has a market cap of $8.56 billion, a price-to-earnings ratio of 51.67, a price-to-earnings-growth ratio of 12.86 and a beta of 0.43.
In other news, CEO Daniel Caruso sold 265,866 shares of the business’s stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $37.61, for a total value of $9,999,220.26. Following the sale, the chief executive officer now directly owns 471,851 shares in the company, valued at approximately $17,746,316.11. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Richard W. Connor sold 1,038 shares of the business’s stock in a transaction dated Tuesday, October 2nd. The stock was sold at an average price of $33.95, for a total transaction of $35,240.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 272,171 shares of company stock worth $10,214,201. Corporate insiders own 4.50% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Cerebellum GP LLC increased its holdings in shares of Zayo Group by 56.5% in the 2nd quarter. Cerebellum GP LLC now owns 5,048 shares of the technology company’s stock worth $184,000 after buying an additional 1,822 shares during the last quarter. IFM Investors Pty Ltd bought a new stake in shares of Zayo Group in the 2nd quarter worth about $275,000. HL Financial Services LLC bought a new stake in shares of Zayo Group in the 2nd quarter worth about $314,000. Highland Capital Management LP bought a new stake in shares of Zayo Group in the 2nd quarter worth about $348,000. Finally, D.A. Davidson & CO. increased its holdings in shares of Zayo Group by 30.5% in the 2nd quarter. D.A. Davidson & CO. now owns 9,871 shares of the technology company’s stock worth $360,000 after buying an additional 2,307 shares during the last quarter. Hedge funds and other institutional investors own 94.73% 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.
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