Zayo Group (NYSE:ZAYO) was upgraded by investment analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research note issued on Tuesday, MarketBeat reports. The firm currently has a $40.00 price objective on the technology company’s stock, up from their previous price objective of $33.00. Morgan Stanley’s price target would indicate a potential upside of 9.41% from the company’s previous close.
ZAYO has been the subject of a number of other research reports. UBS began coverage on shares of Zayo Group in a report on Tuesday, October 17th. They issued a “buy” rating for the company. Cowen reiterated a “buy” rating on shares of Zayo Group in a report on Friday, November 10th. TheStreet upgraded shares of Zayo Group from a “c” rating to a “b-” rating in a report on Tuesday, October 17th. BidaskClub upgraded shares of Zayo Group from a “sell” rating to a “hold” rating in a report on Friday, October 20th. Finally, Stifel Nicolaus restated a “buy” rating on shares of Zayo Group in a report on Tuesday, August 22nd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $39.46.
Shares of Zayo Group (NYSE ZAYO) traded up $0.08 during midday trading on Tuesday, reaching $36.56. 2,509,324 shares of the company were exchanged, compared to its average volume of 2,355,616. The company has a market cap of $9,043.70, a price-to-earnings ratio of 81.24, a PEG ratio of 14.88 and a beta of 0.53. Zayo Group has a 1-year low of $29.30 and a 1-year high of $37.18. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 3.81.
Hedge funds have recently made changes to their positions in the company. Hussman Strategic Advisors Inc. acquired a new stake in shares of Zayo Group during the 3rd quarter worth approximately $1,721,000. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Zayo Group by 10.4% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 522,662 shares of the technology company’s stock worth $16,150,000 after buying an additional 49,044 shares during the period. State of Wisconsin Investment Board grew its position in shares of Zayo Group by 38.5% during the 2nd quarter. State of Wisconsin Investment Board now owns 209,641 shares of the technology company’s stock worth $6,478,000 after buying an additional 58,230 shares during the period. Cibc World Markets Corp acquired a new stake in shares of Zayo Group during the 2nd quarter worth approximately $16,995,000. Finally, Clinton Group Inc. acquired a new stake in shares of Zayo Group during the 2nd quarter worth approximately $1,134,000. 84.11% of the stock is owned by institutional investors.
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.