Zayo Group Holdings, Inc. (NYSE:ZAYO) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Wednesday.
Several other research firms have also recently commented on ZAYO. Pacific Crest reaffirmed an “equal weight” rating on shares of Zayo Group Holdings in a research report on Friday, June 23rd. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and issued a $42.00 target price on shares of Zayo Group Holdings in a research report on Wednesday, September 13th. Moffett Nathanson reaffirmed a “neutral” rating and issued a $39.00 target price (up from $34.00) on shares of Zayo Group Holdings in a research report on Thursday, September 28th. William Blair reaffirmed an “ourperform” rating on shares of Zayo Group Holdings in a research report on Tuesday, August 22nd. Finally, Deutsche Bank AG initiated coverage on shares of Zayo Group Holdings in a research report on Monday, August 28th. They issued a “hold” rating for the company. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Zayo Group Holdings currently has an average rating of “Hold” and a consensus target price of $38.36.
Shares of Zayo Group Holdings (ZAYO) opened at 34.30 on Wednesday. The firm has a 50-day moving average of $34.48 and a 200 day moving average of $33.03. Zayo Group Holdings has a 1-year low of $29.30 and a 1-year high of $35.65. The company has a market capitalization of $8.45 billion, a P/E ratio of 98.00 and a beta of 0.55.
Zayo Group Holdings (NYSE:ZAYO) last posted its earnings results on Monday, August 21st. The technology company reported $0.13 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.02). Zayo Group Holdings had a return on equity of 7.48% and a net margin of 3.90%. The company had revenue of $638.00 million during the quarter, compared to analysts’ expectations of $642.67 million. During the same period in the prior year, the business posted ($0.13) earnings per share. The company’s revenue for the quarter was up 25.8% on a year-over-year basis. On average, equities research analysts expect that Zayo Group Holdings will post $0.61 earnings per share for the current year.
In related news, CFO Kenneth Desgarennes sold 38,885 shares of Zayo Group Holdings stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $32.37, for a total transaction of $1,258,707.45. Following the completion of the transaction, the chief financial officer now directly owns 1,047,687 shares of the company’s stock, valued at approximately $33,913,628.19. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Daniel Caruso sold 58,634 shares of Zayo Group Holdings stock in a transaction dated Wednesday, October 4th. The shares were sold at an average price of $34.55, for a total transaction of $2,025,804.70. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,617,498 shares of company stock valued at $192,225,997. 5.20% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Mutual of America Capital Management LLC purchased a new position in Zayo Group Holdings during the 2nd quarter valued at about $142,000. Point72 Asia Hong Kong Ltd purchased a new position in Zayo Group Holdings during the 1st quarter valued at about $151,000. Nordea Investment Management AB lifted its position in Zayo Group Holdings by 6.8% during the 1st quarter. Nordea Investment Management AB now owns 5,240 shares of the technology company’s stock valued at $172,000 after acquiring an additional 335 shares during the period. Neuberger Berman Group LLC purchased a new position in Zayo Group Holdings during the 1st quarter valued at about $203,000. Finally, Comerica Bank lifted its position in Zayo Group Holdings by 3.7% during the 1st quarter. Comerica Bank now owns 6,702 shares of the technology company’s stock valued at $233,000 after acquiring an additional 238 shares during the period. 78.91% of the stock is owned by institutional investors.
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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