Shares of Zayo Group Holdings, Inc. (NYSE:ZAYO) have been given an average recommendation of “Buy” by the twenty research firms that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $37.75.

A number of brokerages recently issued reports on ZAYO. BidaskClub upgraded shares of Zayo Group Holdings from a “sell” rating to a “hold” rating in a report on Wednesday, June 14th. Pacific Crest reiterated an “equal weight” rating on shares of Zayo Group Holdings in a report on Friday. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and issued a $42.00 price objective (up previously from $36.00) on shares of Zayo Group Holdings in a report on Friday, May 12th. CIBC raised their price objective on shares of Zayo Group Holdings from $36.00 to $42.00 and gave the company an “outperform” rating in a report on Monday, May 15th. Finally, JPMorgan Chase & Co. lowered shares of Zayo Group Holdings from an “overweight” rating to a “neutral” rating and raised their price objective for the company from $35.00 to $36.00 in a report on Wednesday, May 10th.

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In other news, CFO Kenneth Desgarennes sold 38,885 shares of Zayo Group Holdings stock in a transaction on 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 sale, the chief financial officer now owns 1,055,045 shares in the company, valued at approximately $33,255,018.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Daniel Caruso sold 22,570 shares of Zayo Group Holdings stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $32.80, for a total transaction of $740,296.00. Following the completion of the sale, the chief executive officer now owns 4,786,546 shares of the company’s stock, valued at approximately $156,998,708.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 830,460 shares of company stock valued at $27,443,551. Company insiders own 5.80% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the stock. State Street Corp raised its stake in Zayo Group Holdings by 54.0% in the fourth quarter. State Street Corp now owns 2,727,533 shares of the technology company’s stock valued at $89,629,000 after buying an additional 956,348 shares in the last quarter. Asset Management One Co. Ltd. bought a new stake in Zayo Group Holdings during the fourth quarter valued at $6,997,000. Highbridge Capital Management LLC raised its stake in Zayo Group Holdings by 5.6% in the fourth quarter. Highbridge Capital Management LLC now owns 10,018 shares of the technology company’s stock valued at $329,000 after buying an additional 533 shares in the last quarter. State Board of Administration of Florida Retirement System raised its stake in Zayo Group Holdings by 4.0% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 195,672 shares of the technology company’s stock valued at $6,430,000 after buying an additional 7,544 shares in the last quarter. Finally, DnB Asset Management AS raised its stake in Zayo Group Holdings by 17.7% in the first quarter. DnB Asset Management AS now owns 13,995 shares of the technology company’s stock valued at $460,000 after buying an additional 2,100 shares in the last quarter. Institutional investors own 74.63% of the company’s stock.

Shares of Zayo Group Holdings (NYSE:ZAYO) traded down 0.19% during midday trading on Monday, hitting $31.48. 1,639,253 shares of the company’s stock traded hands. The firm has a market capitalization of $7.74 billion, a price-to-earnings ratio of 242.15 and a beta of 0.54. The company has a 50 day moving average price of $32.41 and a 200 day moving average price of $32.51. Zayo Group Holdings has a 1-year low of $26.10 and a 1-year high of $35.65.

Zayo Group Holdings (NYSE:ZAYO) last issued its quarterly earnings data on Tuesday, May 9th. The technology company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.03. The business had revenue of $550.20 million during the quarter, compared to analyst estimates of $545.63 million. Zayo Group Holdings had a net margin of 1.53% and a return on equity of 5.47%. The firm’s quarterly revenue was up 15.1% on a year-over-year basis. During the same quarter last year, the business earned ($0.08) EPS. Equities analysts anticipate that Zayo Group Holdings will post $0.39 earnings per share for the current year.

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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