Zayo Group (NYSE:ZAYO) had its price target hoisted by analysts at Morgan Stanley from $40.00 to $43.00 in a research report issued to clients and investors on Thursday. The firm currently has an “overweight” rating on the technology company’s stock. Morgan Stanley’s target price suggests a potential upside of 16.47% from the stock’s previous close.
Other equities analysts have also issued reports about the stock. Barclays increased their price objective on shares of Zayo Group from $36.00 to $40.00 and gave the company an “overweight” rating in a research report on Wednesday, October 18th. KeyCorp reaffirmed a “hold” rating on shares of Zayo Group in a research report on Wednesday, October 11th. Citigroup reaffirmed a “buy” rating on shares of Zayo Group in a research report on Thursday, December 14th. BidaskClub lowered shares of Zayo Group from a “hold” rating to a “sell” rating in a research report on Wednesday, October 11th. Finally, Oppenheimer reaffirmed a “buy” rating and issued a $42.00 price objective on shares of Zayo Group in a research report on Tuesday, November 7th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $39.64.
Zayo Group (NYSE ZAYO) traded up $0.61 during trading hours on Thursday, hitting $36.92. 736,350 shares of the stock were exchanged, compared to its average volume of 1,581,740. Zayo Group has a twelve month low of $29.73 and a twelve month high of $37.95. The company has a market cap of $8,917.53, a PE ratio of 99.78, a P/E/G ratio of 14.67 and a beta of 0.47. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 3.81.
In other Zayo Group news, COO Andrew Crouch sold 19,537 shares of the firm’s stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $36.14, for a total transaction of $706,067.18. Following the completion of the transaction, the chief operating officer now directly owns 76,647 shares of the company’s stock, valued at approximately $2,770,022.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Daniel Caruso sold 123,738 shares of the firm’s stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $36.80, for a total transaction of $4,553,558.40. Following the transaction, the chief executive officer now directly owns 4,286,654 shares of the company’s stock, valued at $157,748,867.20. The disclosure for this sale can be found here. Insiders have sold a total of 4,974,932 shares of company stock valued at $178,752,336 over the last three months. 5.20% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the business. Seven Eight Capital LP purchased a new position in Zayo Group during the 4th quarter worth approximately $105,000. Thompson Davis & CO. Inc. grew its stake in shares of Zayo Group by 2,600.0% during the 3rd quarter. Thompson Davis & CO. Inc. now owns 3,375 shares of the technology company’s stock worth $116,000 after purchasing an additional 3,250 shares during the period. Cerebellum GP LLC acquired a new stake in shares of Zayo Group during the 4th quarter worth approximately $126,000. SG Americas Securities LLC acquired a new stake in shares of Zayo Group during the 4th quarter worth approximately $141,000. Finally, Mutual of America Capital Management LLC acquired a new stake in shares of Zayo Group during the 2nd quarter worth approximately $142,000. 84.71% of the stock is owned by institutional investors.
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Zayo Group 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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