Zayo Group (NYSE:ZAYO)‘s stock had its “buy” rating reaffirmed by analysts at SunTrust Banks in a report released on Thursday. They presently have a $45.00 price objective on the technology company’s stock. SunTrust Banks’ price target indicates a potential upside of 31.93% from the stock’s previous close.

Other analysts have also recently issued reports about the company. Cowen reissued a “buy” rating on shares of Zayo Group in a research note on Friday, August 11th. UBS began coverage on Zayo Group in a research note on Tuesday, October 17th. They set a “buy” rating for the company. BidaskClub cut Zayo Group from a “hold” rating to a “sell” rating in a research note on Wednesday, October 11th. William Blair reissued an “ourperform” rating on shares of Zayo Group in a research note on Tuesday, August 22nd. Finally, Oppenheimer reissued a “buy” rating and set a $42.00 target price on shares of Zayo Group in a research note on Tuesday, November 7th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the company’s stock. Zayo Group currently has an average rating of “Hold” and an average price target of $38.92.

Shares of Zayo Group (NYSE ZAYO) traded down $0.31 during trading hours on Thursday, hitting $34.11. 3,927,200 shares of the company were exchanged, compared to its average volume of 2,355,719. Zayo Group has a 1-year low of $29.30 and a 1-year high of $36.79. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 3.81. The firm has a market cap of $8,514.32, a P/E ratio of 76.49, a price-to-earnings-growth ratio of 14.01 and a beta of 0.53.

In other news, major shareholder Fund X/C Lp Gtcr sold 4,700,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $34.35, for a total transaction of $161,445,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Matt Steinfort sold 812 shares of the stock in a transaction that occurred on Wednesday, October 4th. The shares were sold at an average price of $34.95, for a total value of $28,379.40. The disclosure for this sale can be found here. Insiders have sold a total of 9,637,348 shares of company stock valued at $338,372,529 over the last ninety days. Company insiders own 5.20% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hussman Strategic Advisors Inc. acquired a new stake in shares of Zayo Group in the 3rd quarter valued at approximately $1,721,000. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Zayo Group by 10.4% in 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 buying an additional 49,044 shares during the last quarter. State of Wisconsin Investment Board boosted its holdings in shares of Zayo Group by 38.5% in 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 buying an additional 58,230 shares during the last quarter. Cibc World Markets Corp acquired a new stake in shares of Zayo Group in the 2nd quarter valued at approximately $16,995,000. Finally, Clinton Group Inc. acquired a new stake in shares of Zayo Group in the 2nd quarter valued at approximately $1,134,000. 84.11% of the stock is owned by institutional investors.

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About Zayo Group

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 (NYSE:ZAYO)

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