JPMorgan Chase & Co. cut shares of Zayo Group Holdings Inc (NYSE:ZAYO) from an overweight rating to a neutral rating in a research report released on Wednesday, May 10th. JPMorgan Chase & Co. currently has $36.00 price objective on the technology company’s stock, up from their previous price objective of $35.00.
Other equities analysts have also recently issued research reports about the stock. BTIG Research restated a buy rating and set a $41.00 target price (up previously from $36.00) on shares of Zayo Group Holdings in a research note on Friday, January 20th. Stifel Nicolaus began coverage on shares of Zayo Group Holdings in a research report on Friday, January 13th. They set a buy rating and a $40.00 price target for the company. Royal Bank of Canada reaffirmed a buy rating and set a $36.00 price target on shares of Zayo Group Holdings in a research report on Tuesday, February 7th. Zacks Investment Research raised shares of Zayo Group Holdings from a hold rating to a buy rating and set a $39.00 price target for the company in a research report on Wednesday, May 3rd. Finally, Citigroup Inc upped their price target on shares of Zayo Group Holdings from $38.00 to $43.00 and gave the company a buy rating in a research report on Tuesday, April 25th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company. Zayo Group Holdings presently has a consensus rating of Buy and a consensus price target of $37.29.
Zayo Group Holdings (NYSE:ZAYO) last posted its earnings results on Tuesday, May 9th. The technology company reported $0.13 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.10 by $0.03. The business had revenue of $550.20 million for the quarter, compared to analysts’ expectations of $545.63 million. Zayo Group Holdings had a negative net margin of 0.74% and a positive return on equity of 1.53%. The business’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.08) EPS.
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In related news, Director Richard W. Connor sold 5,000 shares of the firm’s stock in a transaction on Tuesday, April 25th. The stock was sold at an average price of $35.00, for a total value of $175,000.00. Following the completion of the sale, the director now directly owns 141,883 shares in the company, valued at $4,965,905. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Christopher Morley sold 25,000 shares of the firm’s stock in a transaction on Monday, May 1st. The stock was sold at an average price of $35.00, for a total value of $875,000.00. Following the completion of the sale, the chief operating officer now owns 532,977 shares of the company’s stock, valued at $18,654,195. The disclosure for this sale can be found here. Insiders have sold a total of 903,199 shares of company stock valued at $29,891,822 over the last quarter. Corporate insiders own 5.80% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in ZAYO. Manning & Napier Advisors LLC purchased a new position in shares of Zayo Group Holdings during the third quarter valued at approximately $56,001,000. Cadence Capital Management LLC purchased a new position in shares of Zayo Group Holdings during the fourth quarter valued at approximately $201,000. BlackRock Fund Advisors raised its position in shares of Zayo Group Holdings by 7.9% in the third quarter. BlackRock Fund Advisors now owns 1,521,548 shares of the technology company’s stock valued at $45,205,000 after buying an additional 111,023 shares in the last quarter. Putnam Investments LLC raised its position in shares of Zayo Group Holdings by 122.3% in the fourth quarter. Putnam Investments LLC now owns 1,216,256 shares of the technology company’s stock valued at $39,966,000 after buying an additional 669,081 shares in the last quarter. Finally, Rhumbline Advisers raised its position in shares of Zayo Group Holdings by 4.5% in the third quarter. Rhumbline Advisers now owns 160,274 shares of the technology company’s stock valued at $4,762,000 after buying an additional 6,913 shares in the last quarter. Institutional investors and hedge funds own 67.35% of the company’s stock.
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.
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