Zayo Group Holdings, Inc. (ZAYO) Downgraded to “Sell” at BidaskClub

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.

ILLEGAL ACTIVITY NOTICE: “Zayo Group Holdings, Inc. (ZAYO) Downgraded to “Sell” at BidaskClub” was first reported by Markets Daily and is the sole property of of Markets Daily. If you are viewing this news story on another publication, it was stolen and reposted in violation of U.S. & international copyright & trademark legislation. The legal version of this news story can be read at https://www.themarketsdaily.com/2017/10/11/zayo-group-holdings-inc-zayo-downgraded-to-sell-at-bidaskclub.html.

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.

Analyst Recommendations for Zayo Group Holdings (NYSE:ZAYO)

Receive News & Ratings for Zayo Group Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zayo Group Holdings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply