Zayo Group Holdings, Inc. (ZAYO) Stock Rating Lowered by TheStreet
Zayo Group Holdings, Inc. (NYSE:ZAYO) was downgraded by equities research analysts at TheStreet from a “b-” rating to a “c+” rating in a research report issued to clients and investors on Monday.
A number of other research analysts have also recently commented on the company. Cowen and Company reaffirmed a “buy” rating on shares of Zayo Group Holdings in a research report on Friday, November 10th. Zacks Investment Research cut Zayo Group Holdings from a “hold” rating to a “sell” rating in a research report on Thursday, November 9th. Oppenheimer Holdings, Inc. reissued a “buy” rating and set a $42.00 price objective on shares of Zayo Group Holdings in a report on Tuesday, November 7th. BidaskClub raised Zayo Group Holdings from a “sell” rating to a “hold” rating in a report on Friday, October 20th. Finally, Barclays PLC increased their price objective on Zayo Group Holdings from $36.00 to $40.00 and gave the stock an “overweight” rating in a report on Wednesday, October 18th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the company. Zayo Group Holdings currently has a consensus rating of “Hold” and an average price target of $38.46.
Shares of Zayo Group Holdings (ZAYO) traded up $0.46 during midday trading on Monday, hitting $35.34. The stock had a trading volume of 1,960,966 shares, compared to its average volume of 1,944,554. Zayo Group Holdings has a 1 year low of $29.30 and a 1 year high of $36.79. The company has a debt-to-equity ratio of 3.81, a current ratio of 0.91 and a quick ratio of 0.91. The stock has a market cap of $8,741.90, a PE ratio of 78.53, a PEG ratio of 14.38 and a beta of 0.56.
Zayo Group Holdings (NYSE:ZAYO) last issued its quarterly earnings results on Monday, August 21st. The technology company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.02). Zayo Group Holdings had a net margin of 3.99% and a return on equity of 8.01%. The firm had revenue of $638.00 million for the quarter, compared to analysts’ expectations of $642.67 million. During the same period in the prior year, the company earned ($0.13) EPS. The firm’s quarterly revenue was up 25.8% on a year-over-year basis. research analysts forecast that Zayo Group Holdings will post 0.49 earnings per share for the current fiscal year.
In other news, major shareholder Fund X/C Lp Gtcr sold 4,700,000 shares of the stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $34.35, for a total transaction of $161,445,000.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Daniel Caruso sold 295,078 shares of the stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $33.89, for a total value of $10,000,193.42. Following the transaction, the chief executive officer now owns 4,284,854 shares in the company, valued at $145,213,702.06. The disclosure for this sale can be found here. Insiders sold a total of 5,271,311 shares of company stock worth $180,967,923 over the last 90 days. Corporate insiders own 5.20% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Hussman Strategic Advisors Inc. bought a new position in shares of Zayo Group Holdings during the 3rd quarter valued at about $1,721,000. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Zayo Group Holdings by 10.4% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 522,662 shares of the technology company’s stock valued at $16,150,000 after purchasing an additional 49,044 shares during the last quarter. State of Wisconsin Investment Board increased its position in shares of Zayo Group Holdings by 38.5% during the 2nd quarter. State of Wisconsin Investment Board now owns 209,641 shares of the technology company’s stock valued at $6,478,000 after purchasing an additional 58,230 shares during the last quarter. Cibc World Markets Corp bought a new position in shares of Zayo Group Holdings during the 2nd quarter valued at about $16,995,000. Finally, Prudential Financial Inc. increased its position in shares of Zayo Group Holdings by 13.0% during the 1st quarter. Prudential Financial Inc. now owns 9,600 shares of the technology company’s stock valued at $316,000 after purchasing an additional 1,102 shares during the last quarter. Hedge funds and other institutional investors own 79.97% of the company’s stock.
Zayo Group Holdings Company Profile
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.
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